Celebrating humanity's flourishing through the spread of capitalism and the rule of law
23 May 2025 Leave a comment
in applied price theory, budget deficits, economic growth, economics of regulation, entrepreneurship, fiscal policy, macroeconomics, politics - New Zealand, Public Choice, public economics
Michael Reddell writes – There were good things in the Budget. There may be few/no votes in better macroeconomic statistics and, specifically, a monthly CPI but – years late (for which the current government can’t really be blamed) – it is finally going to happen.
The (deeply underwhelming) Budget
22 May 2025 Leave a comment
in applied price theory, comparative institutional analysis, economics of information, economics of regulation, entrepreneurship, history of economic thought, industrial organisation, labour economics, law and economics, property rights
22 May 2025 Leave a comment
in applied price theory, development economics, economics of regulation, entrepreneurship, health economics, law and economics, politics - USA, property rights Tags: 2024 presidential election, patents and copyrights, price controls, price discrimination
Econ 101 is often dismissed as too simplistic. Yet recent events suggest that Econ 101 is underrated. Take the tariff debate: understanding that a tariff is a tax, that prices represent opportunity costs, that a bilateral trade deficit is largely meaningless, that a so-called trade “deficit” is equally a goods surplus or an investment surplus—these […]
Econ 101 is Underrated: Pharma Price Controls
20 May 2025 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, development economics, economic history, economics of regulation, entrepreneurship, history of economic thought
TweetThanks for the honor, Kevin! The post Kevin Gentry Talks With Me About Trade and Phil Gramm’s and My New Book appeared first on Cafe Hayek.
Kevin Gentry Talks With Me About Trade and Phil Gramm’s and My New Book
19 May 2025 Leave a comment
in economics of media and culture, entrepreneurship, industrial organisation, movies, politics - New Zealand, Public Choice, rentseeking, survivor principle, television Tags: corporate welfare
Ani O’Brien writes – On Friday night, having imbibed a few wines I strayed onto X to unwisely engage in some (slightly drunk) opinion sharing. I tweeted:
Propping up the film sector or stimulating growth?
14 May 2025 Leave a comment
in applied price theory, entrepreneurship, health economics, industrial organisation, politics - USA, Public Choice, rentseeking Tags: price controls
Numerous empirical studies show a relationship between a drug’s expected market size and the magnitude of research and development investments. Early studies focused on changes to market size resulting from the demographics of disease burden (Acemoglu and Linn 2004) and policy changes influencing market demand (Finkelstein 2004). These findings have largely been confirmed by more […]
Supply is elastic, installment #6437
10 May 2025 1 Comment
in applied price theory, economic growth, entrepreneurship, human capital, labour economics, labour supply, macroeconomics, Public Choice Tags: Finland, taxation and entrepreneurship, taxation and investment, taxation and labour supply
I’m currently in Finland for meetings with various people and I learned that the country’s bloated public sector and expensive welfare state are imposing a very heavy cost on the economy. How heavy of a cost? According to IMF data, there’s been no growth in per-capita GDP over the past 18 years. Why is Finland […]
The Economic Consequences of Ever-Growing Government in Finland
05 May 2025 Leave a comment
in entrepreneurship, financial economics Tags: active investing
Berkshire Hathaway has realized a Sharpe ratio of 0.76, higher than any other stock or mutual fund with a history of more than 30 years, and Berkshire has a significant alpha to traditional risk factors. However, we find that the alpha becomes insignificant when controlling for exposures to Betting-Against-Beta and Quality-Minus-Junk factors. Further, we estimate […]
Buffett’s Alpha
01 May 2025 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, entrepreneurship, history of economic thought, industrial organisation Tags: capitalism and freedom
An excerpt from the Introduction of *Unbeatable*
Capitalism, Socialism, and Social Desirability Bias
30 Apr 2025 Leave a comment
in applied price theory, entrepreneurship, financial economics
When interest rates go up, the price of bonds goes down. As Tyler and I discuss in Modern Principles, the inverse relationship between interest rates and prices holds for any asset that pays out over time. In particular, as Patrick McKenzie points out, when interest rates go up, the value of a loan goes down. […]
In Praise of the Danish Mortgage System
28 Apr 2025 Leave a comment
in applied price theory, entrepreneurship, industrial organisation, international economics, politics - USA Tags: 2024 presidential election, free trade, tariffs
By Lauren Weber of The WSJ. Excerpts:”Most economists and other experts are skeptical that job creation will happen on a large scale because planning and building new factories is an incredibly complex and lengthy process. Businesses will be reluctant to do that unless they’re sure the investment is worth it over the long term. A fairly…
Can Trump’s Tariff Offensive Deliver New American Jobs?
24 Apr 2025 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, economics of information, economics of regulation, entrepreneurship, experimental economics, history of economic thought, industrial organisation
Vernon Smith reviews Joe Stiglitz’s book The Road to Freedom: Stiglitz did work in the abstract intellectual theoretical tradition of neoclassical economics showing how the standard results were changed by asymmetric or imperfect information. He is oblivious, however, to the experimental lab and field empirical research showing that agent knowledge of all such information is […]
Smith Reviews Stiglitz
18 Apr 2025 Leave a comment
in economics of climate change, energy economics, entrepreneurship, environmental economics, environmentalism, global warming, industrial organisation, politics - USA, survivor principle Tags: electric cars
Leasing companies have gambled that second hand values for EVs would be as strong as for conventional cars. It is a gamble that could cost them billions.
Car Leasing Association Wants Govt Support As EV Second Hand Prices Plummet!
12 Apr 2025 Leave a comment
in discrimination, entrepreneurship, law and economics, liberalism, Marxist economics, politics - New Zealand, property rights Tags: affirmative action, free speech, political correctness, racial discrimination, regressive left
Written by Don Brash in his capacity as Hobson’s Pledge trustee This morning, you were meant to open the New Zealand Herald and see a…
DON BRASH: NZME can get stuffed – the ad they rejected
10 Apr 2025 1 Comment
in applied price theory, business cycles, economic growth, economics of information, economics of regulation, entrepreneurship, financial economics, global financial crisis (GFC), history of economic thought, industrial organisation, macroeconomics, politics - USA
Myron Scholes was on top of the world in 1997, having won the Nobel Prize in economics that year for his work in financial economics, work that he had applied in the real world in a wildly successful hedge fund, Long Term Capital Management. But just one year later, LTCM was saved from collapse only […]
When Genius Failed
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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