Uber: Revolutionary but Controversial – (The Story of Uber)
30 Mar 2018 Leave a comment
in economics of bureaucracy, entrepreneurship, industrial organisation, Public Choice, rentseeking, survivor principle, transport economics Tags: creative destruction, taxi regulation, Uber
The labour theory of value
29 Mar 2018 Leave a comment
in applied price theory, entrepreneurship, human capital, industrial organisation, labour economics, labour supply, Marxist economics, survivor principle Tags: labour theory of value
“A few observations:
- The Labor Theory of Value is incapable of functionally explaining even basic economic relationships. See Menger 1871.
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The notion that class identity functionally drives political or any other type of collective action is hopelessly incoherent and undermined by a pervasive free rider problem. See Olson 1965.
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Even if one were to assume that the initial allocation of all property is by mere theft (and it is not), its effectual consequences are entirely subordinate to the question of whether property rights exist in the first place. See Coase 1960.
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The predictive ability of historical materialism in the ~150 years since its formulation is practically zero, although the cost of attempting to force its predictions into being is several hundred million bodies.
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In practice, the concept of alienation is indistinguishable from subjective emoting about things that the individual exhibiting “estrangement” envies, and envy is a difficult concept to defend as the basis of a system of social allocation as it reduces to little more than subjective valuation executed by forcible acquisition.
If the above observations are true, what exactly remains again of the Marxist system of thought that is of any value in explaining anything?”
- Phil Magness
Philippe Aghion: “Innovation will relocate old jobs to new jobs” – “Safety Last” pt. 1
27 Mar 2018 Leave a comment
in applied price theory, economic history, entrepreneurship, industrial organisation, labour economics, labour supply, survivor principle Tags: automation
Entrepreneurial alertness alert: When they realized women were using sacks to make clothes for their kids, flour mills started using flowered fabric
27 Mar 2018 Leave a comment
Didn’t know Starbucks and McDonald’s were doing so well
16 Mar 2018 Leave a comment
in economic history, entrepreneurship, financial economics, industrial organisation, survivor principle
The guide book that helped black Americans travel during segregation
16 Mar 2018 1 Comment
in applied price theory, discrimination, entrepreneurship, industrial organisation, survivor principle Tags: racial discrimination
We’re All Gonna Starve!
12 Mar 2018 Leave a comment
in development economics, economic history, entrepreneurship, growth miracles, health economics, population economics Tags: agricultural economics, green revolution, India, pessimism bias, population bomb
Philip Payton Jr.: The Crusading Capitalist Who Outwitted New York’s Racist Landlords
08 Mar 2018 Leave a comment
in applied price theory, discrimination, economic history, entrepreneurship, poverty and inequality, urban economics Tags: racial discrimination
Wooden skyscrapers could be the future for cities | The Economist
15 Feb 2018 Leave a comment
in entrepreneurship, environmental economics, global warming, urban economics
The urban legend that preprepared dinners took off when mothers could add an egg is true, apparently
12 Feb 2018 Leave a comment
in economic history, economics of information, entrepreneurship
How Musicians Smashed Racial Barriers
02 Feb 2018 Leave a comment
in discrimination, economic history, entrepreneurship, industrial organisation, survivor principle
The Vision of Jeffrey Sachs
28 Jan 2018 Leave a comment
in applied price theory, development economics, economic history, economics of bureaucracy, entrepreneurship, growth disasters, growth miracles, Public Choice, rentseeking Tags: overseas aid, The fatal conceit
Our house too big for ultrafast broadband hook-up @stevenljoyce @TaxpayersUnion @EricCrampton
26 Jan 2018 Leave a comment
in economics of bureaucracy, entrepreneurship, industrial organisation, politics - New Zealand, Public Choice
Your picking loses detector is at maximum when governments are retrofitting infrastructure in the suburbs. We just had Chorus in to retrofit ultrafast broadband to our house. Our house is too big and complicated to rewire.
In addition to stringing a wire from the road to a ATC box, as with everybody, we need to rewire from that box to my office for another ultrafast broadband box next to my computer on the other side of the house 2 floors up. I was told I would need an electrician to do that as the house is already built, most of the wires will probably be external, ugly and I would have to pay for it and the drilling through my floors.
Seems like the political genius behind government paying for ultra fast broadband including fitting it into my house assumed everybody had a nice simple one story house where the office was near the ACT box so there would be minimal rewiring. That would involve minimal internal wiring.
If I want to proceed, I need to bring in an electrician and as the house is already been built, he will need to drill holes, string wires and then the chorus team will come back. The alternative was to have my modem just above the ATC box in the spare bedroom and the rest of the house operate including my desktop in my office on Wi-Fi which seems to very must defeat point of ultrafast broadband indeed.
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