Eamonn Butler on the knowledge problem
31 Mar 2020 Leave a comment
in Austrian economics, comparative institutional analysis, economics of bureaucracy, economics of regulation, entrepreneurship, history of economic thought, industrial organisation, law and economics, managerial economics, organisational economics, property rights, Public Choice, survivor principle Tags: offsetting behaviour, The fatal conceit, The pretence of knowledge, unintended consequences
Coronavirus: Do socialists understand socialism?
29 Mar 2020 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, constitutional political economy, development economics, economic history, economics of bureaucracy, economics of information, economics of regulation, entrepreneurship, growth disasters, growth miracles, income redistribution, industrial organisation, law and economics, liberalism, libertarianism, Marxist economics, Public Choice, public economics, rentseeking, survivor principle Tags: economics of pandemics
wage cuts are so common that they throw efficient contracting theory into doubt
28 Mar 2020 Leave a comment
in industrial organisation, job search and matching, labour economics, labour supply
From https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.33.3.185
Employees are more likely to accept cuts in hours than cuts in wages per hour because a reduction in hours reduces output and profits for the employer too and therefore is less likely to be opportunistic.
How The Ford Model T Took Over The World
26 Mar 2020 Leave a comment
in economic history, entrepreneurship, industrial organisation, managerial economics, organisational economics, personnel economics, survivor principle Tags: mass production
Samsung and Hyundai are 35% of Korean exports; their sales are 22% of Korean GDP. Nokia represented 26% of Finnish GDP!
25 Mar 2020 Leave a comment
in business cycles, economic growth, industrial organisation, macroeconomics
Plosser on money and business cycles
20 Mar 2020 Leave a comment
in business cycles, econometerics, economic history, financial economics, great depression, industrial organisation, labour economics, labour supply, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: Keynesian macroeconomics, real business cycle theory
.@Bryan_Caplan’s best presentation of the case against education
18 Mar 2020 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economics of education, economics of information, history of economic thought, human capital, income redistribution, industrial organisation, labour economics, labour supply, managerial economics, occupational choice, organisational economics, personnel economics, Public Choice, public economics, rentseeking, survivor principle Tags: adverse selection, asymmetric information, College premium, graduate premium, screening, self-selection, signaling
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