Another steel mill just entered administration.
Mad Miliband’s British Net Zero Industrial Collapse
Mad Miliband’s British Net Zero Industrial Collapse
23 Aug 2025 Leave a comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming, industrial organisation, survivor principle Tags: British politics
An attempt to lower NZ electricity prices could end up doing the opposite – here’s why
23 Aug 2025 Leave a comment
in energy economics, industrial organisation, politics - New Zealand Tags: competition law
Richard Meade writes – In its quest to lower electricity prices for New Zealand households, the Electricity Authority may inadvertently make the situation worse. This week, the authority announced plans to require New Zealand’s “gentailers” – firms that both generate electricity and retail it to consumers – to offer the same supply terms to independent retailers as […]
An attempt to lower NZ electricity prices could end up doing the opposite – here’s why
Milei’s Achievements…and Challenges
17 Aug 2025 1 Comment
in development economics, economic growth, economics of bureaucracy, economics of regulation, fiscal policy, growth disasters, income redistribution, industrial organisation, labour economics, law and economics, liberalism, libertarianism, macroeconomics, Marxist economics, monetary economics, property rights, Public Choice, public economics, rentseeking, unemployment Tags: Argentina
I’m back in Argentina, the South American country with the world’s best leader. What Javier Milei has accomplished is amazing. And the economic effects have been wonderful. One of my meetings earlier this week was with Marcelo Elizondo, the head of the International Chamber of Commerce for Argentina. He shared a presentation with me that […]
Milei’s Achievements…and Challenges
For a de minimus threshold for mergers
16 Aug 2025 1 Comment
in applied price theory, economics of bureaucracy, industrial organisation, law and economics, politics - New Zealand, Public Choice Tags: competition law, merger law enforcement
I’ve spent the last couple of days at the Competition Law and Policy Institute’s annual workshop.Webb-Henderson’s Lucy Wright made a good case for a de minimus threshold for merger controls. Small mergers could have a safe harbour, or mergers in markets of insufficient NZ importance.If we need to set a monetary threshold for a market…
For a de minimus threshold for mergers
A Final Attempt to Explain My Disagreement With John Lott on Trump’s Tariffs
13 Aug 2025 1 Comment
in applied welfare economics, industrial organisation, international economics, politics - USA Tags: tarrifs
TweetHere’s a follow-up letter to a new correspondent. Mr. K__: Thanks for your follow-up email, and no need to apologize for what you call your “continued confusion about tariffs as taxes.” It’s I who apologize for communicating unclearly. So, especially because you’re not the only person who I managed to confuse, I’ll take one more…
A Final Attempt to Explain My Disagreement With John Lott on Trump’s Tariffs
Is anyone worth a billion dollars?
12 Aug 2025 1 Comment
in applied price theory, entrepreneurship, industrial organisation Tags: superstar wages
That is the topic of my latest Free Press column. Excerpt: …in recent years they [Meta] have moved into AI in a big way. Over that same time period, the valuation of the company has risen from about $236 billion in November 2022 to almost $2 trillion at the end of this July. The reasons for […]
Is anyone worth a billion dollars?
The US Auto Industry: Evolving, not Evaporating
09 Aug 2025 Leave a comment
in economic history, industrial organisation, labour economics, labour supply, survivor principle, transport economics, urban economics
One of those facts that “everyone knows” is that the US auto industry has been crushed by foreign competition. As Adam Ozimek points out in “Myths and Lessons from a Century of American Automaking” (Economic Innovation Institute, August 1, 2025), while the US car industry certainly no longer features large manufacturing plants in the city…
The US Auto Industry: Evolving, not Evaporating
The economics of the U.S. auto industry, a brief history
03 Aug 2025 Leave a comment
in economic history, entrepreneurship, industrial organisation, survivor principle
From Adam Ozimek: The economic value of the cars being made has climbed substantially through the years. As a result, real value added and industrial production — two different ways of measuring actual output — are now at all-time highs. And this: What about jobs? The auto industry today employs 1 million workers. Between 1950 and […]
The economics of the U.S. auto industry, a brief history
Shorting Your Rivals: A Radical Antitrust Remedy
24 Jul 2025 Leave a comment
in applied price theory, economics of regulation, entrepreneurship, financial economics, industrial organisation Tags: competition law, competition law enforcement, mergers
Conventional antitrust enforcement tries to prevent harmful mergers by blocking them but empirical evidence shows that rival stock prices often rise when a merger is blocked—suggesting that many blocked mergers would have increased competition. In other words, we may be stopping the wrong mergers. In a clever proposal, Ayres, Hemphill, and Wickelgren (2024) argue that […]
Shorting Your Rivals: A Radical Antitrust Remedy
Creative destruction
23 Jul 2025 Leave a comment
in economic history, entrepreneurship, industrial organisation Tags: creative destruction
Stop the corporate welfare
22 Jul 2025 Leave a comment
in applied price theory, comparative institutional analysis, economics of bureaucracy, income redistribution, industrial organisation, politics - New Zealand, Public Choice, rentseeking
The Herald reports: More than half of the $257 million loan book held by the Government entity formerly known as the Provincial Growth Fund is considered to be at risk of impairment or default. The surge in at-risk loan advances made by Crown Regional Holdings (CRH) – a vehicle used by the Government to warehouse […]
Stop the corporate welfare
Technology Transfer and Development Economics
14 Jul 2025 1 Comment
in development economics, health economics, history of economic thought, industrial organisation, international economics Tags: technology diffusion
Willis Carrier invented modern air conditioning around 1904 but technological innovations often take a long time to travel to less developed regions of the world. FT.
Technology Transfer and Development Economics
Dr. Matthew Wielicki Torches the $7 Trillion Fossil Fuel Subsidy Myth
10 Jul 2025 1 Comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming, income redistribution, industrial organisation, politics - USA, Public Choice, rentseeking
Let this article be Exhibit A in the case against climate policy by fiat. And remember: when someone tells you fossil fuels are living off your tax dollars, ask them to show the receipts. Odds are, they’re pointing to a spreadsheet full of make-believe.
Dr. Matthew Wielicki Torches the $7 Trillion Fossil Fuel Subsidy Myth
Victor Davis Hanson Continues to Write Foolishly About Economics
07 Jul 2025 Leave a comment
in applied price theory, history of economic thought, industrial organisation, international economics, politics - USA, Public Choice, rentseeking Tags: tarrifs
TweetEvery time Victor Davis Hanson comments on the economics of international trade he displays his utter ignorance of the most basic facts and theories of that topic. Editor, Real Clear Politics Editor: Victor Davis Hanson’s declaration of victory for Trump’s tariffs is premature and confused (“The Decline and Fall of Our So-Called Degreed Experts,” July…
Victor Davis Hanson Continues to Write Foolishly About Economics
The Weird and Lovely Surge of US Productivity Growth
04 Jul 2025 Leave a comment
in applied price theory, econometerics, economic growth, economic history, industrial organisation, labour economics, labour supply, macroeconomics, politics - USA
In the long run, a rising standard of living is always and everywhere based on productivity growth. Thus, Austan Goolsbee notedin a keynote address at the “Summit” conference held at the Stanford Institute of Economic Policy Research (SIEPR) in February (“Remarks on Productivity Growth and Monetary Policy,” February 28, 2025): As Goolsbee notes, annual productivity…
The Weird and Lovely Surge of US Productivity Growth
Utopia, you are standing in it! 
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