Should We Subsidize Scientific Research?
18 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, entrepreneurship, industrial organisation, Public Choice, rentseeking, survivor principle Tags: competition as a discovery procedure, economics of science, industry policy, losers, picking winners, R&D, The meaning of competition, The pretence the knowledge
Creative destruction in advertising revenue
16 Aug 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, entrepreneurial alertness, legacy media
Soon American internet-ad revenue will surpass newspapers, magazines and billboards combined econ.st/1GjiIny http://t.co/17pxfdVWcE—
The World in 2015 (@EconWorldin) July 14, 2015
Puerto Rico’s predicaments: Is its minimum wage the culprit?
15 Aug 2015 Leave a comment
in applied price theory, development economics, economic history, industrial organisation, politics - USA, public economics, rentseeking, survivor principle Tags: Puerto Rico
(Co-authored with Ben Zipperer. Posted at Washington Center for Equitable Growth)
Puerto Rico today faces a serious debt crisis, recently defaulting on a bond payment. The proximate cause is a slowdown in economic growth since the mid-2000s, which has reduced tax revenues, and a declining labor market, where employment growth has been mostly in the red since 2007.
There are many explanations for the economic downturn and the resulting fiscal crisis, but some commentators have incorrectly blamed the island’s high minimum wage. To be sure, the federal minimum wage—which has applied to Puerto Rico since 1983—is much more binding there than it is on the mainland. Because hourly wages are substantially lower in Puerto Rico compared to the U.S. mainland, the federal minimum wage policy affects more of the workforce there. In 2014, for example, the federal minimum wage stood at 77 percent of the median hourly wage in Puerto Rico…
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More on the rise and the rise of the working super rich
15 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, economic history, entrepreneurship, industrial organisation, survivor principle Tags: antimarket bias, entrepreneurial alertness, superstar wages, superstars, top 0.1%, top 1%, top wage earners
How many of the richest Americans inherited their fortune? Find out. buff.ly/1DNM3g2 http://t.co/QlarE5yAdT—
HumanProgress.org (@humanprogress) August 14, 2015
Creative destruction in car manufacturing
14 Aug 2015 Leave a comment
in development economics, economic history, entrepreneurship, growth miracles, industrial organisation, international economics, survivor principle Tags: automotive industry, car industry, comparative advantage, creative destruction, entrepreneurial alertness, manufacturing industry, market selection, The meaning of competition
Changing shares of car production since 1950
(source bit.ly/1hn1l0Y) http://t.co/VPhianlBBX—
Max Roser (@MaxCRoser) August 07, 2015
Creative destruction in news
14 Aug 2015 Leave a comment
in economics of media and culture, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, legacy media, media bias
Apparently, some people still buy CDs
13 Aug 2015 Leave a comment
in economic history, economics of media and culture, industrial organisation, survivor principle Tags: CDs, creative destruction, legacy media
In the last 40 years, there have been huge shifts in how Americans spend money on music
redef.com/original/less-… http://t.co/jumI47aYAn—
Conrad Hackett (@conradhackett) August 05, 2015
Creative destruction in taxi rent capitalisation
13 Aug 2015 Leave a comment
in economics of regulation, entrepreneurship, industrial organisation, Public Choice, rentseeking, survivor principle Tags: creative destruction, Uber
The unicorns of the US tech sector share market
13 Aug 2015 Leave a comment
in entrepreneurship, industrial organisation, survivor principle Tags: competition as a discovery procedure, efficient markets hypothesis, entrepreneurial alertness, market selection, technology diffusion, Uber
There are 74 "unicorns” in US tech sector, valued at $273 billion. Will they become extinct? econ.st/1ISYkvd http://t.co/ATyuzMsZwA—
The Economist (@EconBizFin) August 11, 2015
Cost control at Google in two charts
12 Aug 2015 Leave a comment
in economics of media and culture, entrepreneurship, industrial organisation, survivor principle Tags: competition as a discovery procedure, creative destruction, economics of advertising, entrepreneurial alertness, Google, innovation, legacy media, market selection, The meaning of competition
Google's core business explained in two charts buff.ly/1UBysMC http://t.co/V6uRrPVKMk—
Business Insider (@businessinsider) August 12, 2015
12 Aug 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, financial economics, industrial organisation, survivor principle Tags: creative destruction, entreprenurial alertness, Google
Does fair trade help the poor?
11 Aug 2015 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, growth disasters, growth miracles, health and safety, human capital, industrial organisation, international economics, labour economics, survivor principle Tags: agricultural economics, expressive voting, fair trade, rational irrationality
Israel outdoes Canada in venture capitalism
10 Aug 2015 Leave a comment
in entrepreneurship, financial economics, industrial organisation, managerial economics, organisational economics, survivor principle Tags: creative destruction, Israel, venture capital
Swedosclerosis and Eurosclerosis compared
10 Aug 2015 Leave a comment
in applied welfare economics, comparative institutional analysis, economic growth, economic history, economics of regulation, industrial organisation, labour economics, labour supply, macroeconomics, survivor principle Tags: Eurosclerosis, Sweden, taxation and entrepreneurship, taxation and investment, taxation and labour supply, welfare state
What watch a movie 2-D when you can watch it in 3-D?
08 Aug 2015 Leave a comment
in economics of media and culture, industrial organisation, survivor principle Tags: 10-90 lag, consumer sovereignty, creative destruction, entrepreneurial alertness, Hollywood economics, technology diffusion
We were watching some movie trailers last week-end. One of the 3-D movies also mentioned that it was available in 2-D.
I am surprised that there is still a market for movies in 2-D when people have the option for a tiny sum of money to watch it in 3-D. Of course, this market survives therefore it must be efficient and somebody must like watching 2-D movies over the 3-D movie option.
Is also the case that there is considerable difference in the quality of 3-D movies. There must be trade secrets. For example, Peter Jackson’s films in 3-D are excellent. Some 3-D movies sometimes look like they are in 2-D all to frequently. I saw one trailer for a 3-D movie that looked like it was just 2-D with beer goggles on.
Utopia, you are standing in it! 
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