A few weeks ago I joined some contemporaries by abandoning the near sixty year habit of watching nightly TV news. I dropped it because I felt it did not give me real information that I had not acquired from other media sources, including some I pay for – The Economist, the NZ Herald, The Atlantic […]
TV layoffs not a threat to democracy
TV layoffs not a threat to democracy
10 Mar 2024 Leave a comment
in applied price theory, economic history, economics of bureaucracy, economics of information, economics of media and culture, economics of regulation, entrepreneurship, income redistribution, industrial organisation, managerial economics, market efficiency, organisational economics, personnel economics, politics - New Zealand, Public Choice, public economics, rentseeking, survivor principle, theory of the firm Tags: media bias
PETER WILLIAMS: RIP Newshub
03 Mar 2024 Leave a comment
in economics of information, economics of media and culture, entrepreneurship, financial economics, industrial organisation, politics - New Zealand, survivor principle Tags: media bias
Could anything have saved it? The real surprise is not that Newshub is going under but that it’s lasted this long. TV 3 started broadcasting in November 1989, almost 35 years ago. It was a different era. There was no Sky, no digital platforms and the new kid on the block was going head to head…
PETER WILLIAMS: RIP Newshub
ROBERT MacCULLOCH: Economics 101 explains why Newshub Bankrupted
02 Mar 2024 Leave a comment
in economics of information, economics of media and culture, industrial organisation, market efficiency, politics - New Zealand, survivor principle, theory of the firm Tags: creative destruction
Economics 101 explains why Newshub Bankrupted – it was the fault of its own journalists who should recognize they were the architects of their own demise. A thousand books and papers in economics and business strategy are about the topic of product differentiation – ensuring that what you sell is different from others in order…
ROBERT MacCULLOCH: Economics 101 explains why Newshub Bankrupted
“We Don’t Do That Here.”: Former NY Times Editor Blasts the “Gray Lady” for Bias and Activism
28 Feb 2024 Leave a comment
in economics of information, economics of media and culture, entrepreneurship, industrial organisation, liberalism, Marxist economics, politics - USA, survivor principle Tags: free speech, media bias, political correctness, regressive left
Former New York Times editor Adam Rubenstein has a lengthy essay at The Atlantic that pulls back the curtain on the newspaper and its alleged bias in its coverage. The essay follows similar pieces from former editors and writers that range from Bari Weiss to Rubenstein’s former colleague James Bennet. The essay describes a similar […]
“We Don’t Do That Here.”: Former NY Times Editor Blasts the “Gray Lady” for Bias and Activism
Genetic Insurance
28 Feb 2024 Leave a comment
in applied price theory, economics of information, entrepreneurship, health economics Tags: adverse selection, health insurance, moral hazard, screening, self-selection, signaling
Genetic testing identifies disease risk, enabling individuals to dodge environmental triggers, optimize treatments, and improve planning. Yet, the fear of increased insurance premiums deters many from undergoing tests. Genetic testing offers societal benefits but also presents significant distributional challenges. To address this, my 1994 paper proposed the idea of genetic insurance. For a small fee […]
Genetic Insurance
Science Feedback (a “fact-checker organization”) have generated disinformation about CERES-Science
23 Feb 2024 Leave a comment
in economics of education, economics of information, energy economics, environmental economics, global warming Tags: climate activists
In recent years, a real-life equivalent to “the Ministry of Truth” has arisen with the rise of so-called “fact-checking organizations”.
Science Feedback (a “fact-checker organization”) have generated disinformation about CERES-Science
About right
22 Feb 2024 Leave a comment
in economics of information, economics of media and culture Tags: cranks
Creative destruction in dating
14 Feb 2024 Leave a comment
in economics of education, economics of information, economics of love and marriage, economics of media and culture, law and economics Tags: dating markets, marriage and divorce
Weaponizing ‘The Science’
14 Feb 2024 Leave a comment
in economics of education, economics of information, economics of media and culture, health economics, liberalism, Marxist economics, politics - USA Tags: Age of Enlightenment, conjecture and refutation, free speech, philosophy of science, political correctness, regressive left
Pielke Jr. argues like this: “The notion of consensus-as-truth has been operationalized in various forms: journalistic “fact checkers,” academic “misinformation” researchers, and content moderation on social media platforms. The practical effect is the creation of self-appointed arbiters of truth — journalists, academics, social media platforms, and even governments — who render judgments on acceptable and unacceptable speech according to conformance with an acceptable view.”
Weaponizing ‘The Science’
*The Case Against Education* Makes the WSJ
01 Feb 2024 Leave a comment
in applied price theory, econometerics, economics of education, economics of information, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: screening, signaling
Douglas Belkin, who has an admirably adversarial publication record on higher ed, spotlights my The Case Against Education in his latest piece in The Wall Street Journal:One result of this transactional attitude has been a sharp increase in cheating. College is one of the few products whose consumers try to get as little out of…
*The Case Against Education* Makes the WSJ
Creative destruction
23 Jan 2024 Leave a comment
in economic history, economics of information, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction
📸 Look at this post on Facebook
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Unfettered: Fishback 25 Years Later
17 Jan 2024 Leave a comment
in applied price theory, discrimination, economic history, economics of information, economics of regulation, health and safety, history of economic thought, human capital, industrial organisation, international economics, labour economics, labour supply, liberalism, macroeconomics, Marxist economics, minimum wage, occupational choice, occupational regulation, poverty and inequality, unemployment, unions
A quarter century ago, economist Price Fishback published “Operations of ‘Unfettered’ Labor Markets: Exit and Voice in American Labor Markets at the Turn of the Century” in the prestigious Journal of Economic Literature. Fishback’s article is packed with insight… and understatement. But let’s back up. Virtually every standard history textbook describes U.S. labor markets before…
Unfettered: Fishback 25 Years Later
#GMOs
14 Jan 2024 Leave a comment
in economics of education, economics of information, health economics Tags: anti-GMOs movement
190308 [Webinar] Consistent Economic Policy and Economic Development
29 Dec 2023 Leave a comment
in applied price theory, budget deficits, business cycles, defence economics, economic growth, economic history, economics of information, Euro crisis, fiscal policy, fisheries economics, global financial crisis (GFC), great recession, growth disasters, growth miracles, history of economic thought, human capital, inflation targeting, labour economics, labour supply, macroeconomics, monetary economics, Public Choice, public economics, unemployment
Invincible ignorance
25 Dec 2023 Leave a comment
in economics of information Tags: cognitive psychology, conjecture and refutation, philosophy of science
“Invincible ignorance” refers to a state of ignorance that cannot be overcome because the individual has no way of accessing or understanding the necessary information. This concept is often discussed in moral and ethical contexts, particularly in philosophy and theology. In these contexts, invincible ignorance is the lack of knowledge that is literally impossible for […]
Invincible ignorance
Utopia, you are standing in it! 
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