An example of confirmation bias in reporting and citations
02 May 2018 Leave a comment
in discrimination, gender, human capital, labour supply Tags: confirmation bias, gender gap, media bias, pessimism bias, regressive left
Income Inequality: The Role of Markets & Government (Sam Peltzman and Bruce Meyer)
01 May 2018 Leave a comment
in applied price theory, applied welfare economics, economic history, labour economics, labour supply, poverty and inequality, Sam Peltzman
John Rawls on the duty to assist loafers
26 Apr 2018 Leave a comment
in development economics, international economics, labour supply, poverty and inequality, Rawls and Nozick
Sustaining Total War – Women in World War One
25 Apr 2018 Leave a comment
in defence economics, gender, labour supply, war and peace Tags: female labour force participation, World War I
The robot-proof job men aren’t taking
21 Apr 2018 Leave a comment
in gender, labour economics, labour supply, occupational choice, population economics, unemployment Tags: ageing society, automation, creative destruction
Why We Should Repeal The Fair Work Act
19 Apr 2018 Leave a comment
in applied price theory, economics of regulation, labour economics, labour supply, politics - Australia, unemployment Tags: employment law, employment protection regulation
Real Time with Bill Maher: Ann Coulter on Immigration
17 Apr 2018 Leave a comment
in development economics, economic history, labour economics, labour supply, politics - USA, television Tags: economics of immigration, illegal immigration
The robots are coming! One in 5 Japanese were on a farm in 1970. Where did they find new jobs?
13 Apr 2018 Leave a comment
in economic history, labour economics, labour supply Tags: creative destruction, Japan
The Truth About Ancient Gladiators
12 Apr 2018 Leave a comment
in economic history, economics of media and culture, health and safety, human capital, labour economics, labour supply, sports economics Tags: Roman empire
How to Calculate the Gender Pay Gap: The case of Uber
09 Apr 2018 Leave a comment
in applied price theory, discrimination, gender, health and safety, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: gender wage gap
How Americans spend their days over the course of life
09 Apr 2018 Leave a comment
in labour supply, population economics
Sowell – The Myth of Proportional Racial and Gender Distribution
03 Apr 2018 Leave a comment
in applied price theory, discrimination, gender, human capital, labour economics, labour supply, occupational choice Tags: gender wage gap, racial discrimination, sex discrimination
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
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