CHART: US average airfares 1979 to 2014 measured in number of hours work at the average wage. @chartoftheday http://t.co/q7Phz3VkU0—
Mark J. Perry (@Mark_J_Perry) August 02, 2015
The Left opposed airline deregulation
05 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economic history, economics of regulation, entrepreneurship, income redistribution, industrial organisation, politics - Australia, politics - New Zealand, politics - USA, Public Choice, rentseeking, survivor principle Tags: airline deregulation, antimarket bias, bootleggers and baptists, expressive voting, Leftover Left, rational ignorance, rational irrationality
The discovery process in student athlete wages
04 Aug 2015 Leave a comment
in economics of education, entrepreneurship, human capital, labour economics, labour supply, sports economics Tags: entrepreneurial alertness, on-the-job training, superstar wages, superstars
FiveThirtyEightSports has a great piece about how much college quarterbacks are really worth in terms of market value. I’m neutral-but-leaning-against on the issue of paying college athletes, but the piece begins with University of Iowa Athletic Director Gary Barta giving a very bad reason to oppose it: it’s too complicated to figure out how much they should be paid. He’s right given how he’s conceiving the issue, he’s just not conceiving the issue in the right way.
Wages are not determined by a person or group of people independently evaluating what a job is “really” worth. That’s what markets do, i.e. that’s what innumerable decisions over time by innumerable anonymous consumers operating within the price system do. The failure to understand how the price system works in allocating resources by preferences is not unique to Barta. Very few people understand it, and lamentably even people who do understand it often…
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The tax rates of the top 1%
04 Aug 2015 Leave a comment
in applied welfare economics, entrepreneurship, fisheries economics, income redistribution, politics - USA, rentseeking Tags: entrepreneurial alertness, envy, taxation and entrepreneurship, taxation and investment, taxation and the labour supply, top 1%
Historical Tax Rates of Top 0.01% (15,000 returns reporting more than $8 million in 2010) visualizingeconomics.com/blog/2013/8/14… http://t.co/XygW0t0npu—
Catherine Mulbrandon (@VisualEcon) August 15, 2013
Kerry Packer in full flight before a parliamentary committee
03 Aug 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, income redistribution, Public Choice Tags: Kerry Packer
The Paul Berry biography of Kerry Packer is a brilliant read. A hundred hilarious stories to tell at a party and that’s just about Kerry Packer’s father, Sir Frank Packer.
Deirdre McCloskey’s speech on ‘Bourgeois Dignity’
03 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, economic history, entrepreneurship, industrial organisation, law and economics, property rights, survivor principle Tags: Deirdre McCloskey, entrepreneurial alertness, industrial revolution, The Great Enrichment, The Great Fact
40% of Fortune 500 companies were started by immigrants or children of immigrants
02 Aug 2015 Leave a comment
in economic history, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, economics of immigration, entrepreneurial alertness, top 1%
The first-ever video played on MTV TD 1981 was?
01 Aug 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, industrial organisation, Music, survivor principle Tags: competition as a discovery procedure, creative destruction, entrepreneurial alertness, legacy media, The meaning of competition
Amazon.com as a gale of creative destruction
30 Jul 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, industrial organisation, survivor principle Tags: Amazon.com, business history, creative destruction, e-commerce, entrepreneurial alertness, Walmart
Amazon is now bigger than Walmart read.bi/1Lyy93u http://t.co/XBsLW2HG8o—
Business Insider (@businessinsider) July 24, 2015
If bureaucrats were any good at picking winners, they would be hedge funds managers
30 Jul 2015 Leave a comment
in applied price theory, comparative institutional analysis, economics of bureaucracy, entrepreneurship, financial economics, human capital, industrial organisation, labour economics, managerial economics, occupational choice, organisational economics, rentseeking, survivor principle Tags: active investing, corporate welfare, efficient markets hypothesis, entrepreneurial alertness, hedge funds, industry policy, passive investing, picking winners, The fatal conceit, The pretence to knowledge
Page 32 of "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/12SEI9p http://t.co/HYm0II2UNI—
Catherine Mulbrandon (@VisualEcon) May 08, 2013
Page 33 of "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/10M7lqR http://t.co/FcmaqZWB32—
Catherine Mulbrandon (@VisualEcon) May 09, 2013
The hedge fund industry held $2.9 trillion of assets in June. Exchange-traded funds did better econ.st/1DdXgWS http://t.co/CK2foqMOpw—
The Economist (@EconEconomics) August 01, 2015
@ReserveBankofNZ will never be any good at forecasting
30 Jul 2015 Leave a comment
in economics of information, entrepreneurship, financial economics, macroeconomics, monetary economics, politics - New Zealand Tags: entrepreneurial alertness, forecasting errors, The pretence to knowledge
.@ReserveBankofNZ MPS inflation forecasts vs. actual. Via @jamespeshaw: http://t.co/TjPvcoVsbI—
Jayne Ihaka (@Jayniehaka) July 29, 2015
Deirdre McCloskey on the Samaritan’s dilemma
30 Jul 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, development economics, economic history, economics of regulation, entrepreneurship, growth disasters, growth miracles, history of economic thought, income redistribution, industrial organisation, liberalism, Public Choice, rentseeking, survivor principle Tags: Age of Innovation, bourgeoisie deal, capitalism and freedom, Deirdre McCloskey, The Great Enrichment, The Great Escape, The Great Fact
The occupations of the top 1% and the top 0.1%
29 Jul 2015 Leave a comment
in applied price theory, applied welfare economics, entrepreneurship, financial economics, human capital, labour economics, occupational choice Tags: CEO pay, compensating differentials, entrepreneurial alertness, top 0.1%, top 1%, top income earners, top wage earners
Page 41 from "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/11v2e9k http://t.co/7Hlgk4AjZn—
Catherine Mulbrandon (@VisualEcon) May 22, 2013
More evidence on the rise and rise of the working super rich – the top income earners are top wage earners now
28 Jul 2015 Leave a comment
in economic history, economics of education, entrepreneurship, financial economics, human capital, labour supply, occupational choice, politics - USA Tags: creative destruction, entrepreneurial alertness, top 1%, top income earners, top wage earners
Page 47 from "An Illustrated Guide to Income" more economic #dataviz at: bit.ly/10QWgyR http://t.co/d1dhSYKWDC—
Catherine Mulbrandon (@VisualEcon) June 03, 2013
Utopia, you are standing in it! 
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