Remember MySpace?
15 Apr 2018 Leave a comment
in entrepreneurship, industrial organisation, survivor principle Tags: competition law, creative destruction
HT Lorenzo Warby
Easterly: Sachs & Individual Rights
01 Apr 2018 Leave a comment
in applied price theory, development economics, entrepreneurship, growth disasters, growth miracles Tags: overseas aid, The fatal conceit
Iggy Pop – John Peel Lecture 2014 Free music in a capitalist society
30 Mar 2018 Leave a comment
in entrepreneurship, industrial organisation, Music, survivor principle Tags: creative destruction, digital goods, economics of copyright, intellectual property rights
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
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