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Employers are reluctant to admit workers work because they are paid wages
09 Sep 2024 Leave a comment
in applied price theory, labour economics, labour supply, managerial economics, organisational economics, personnel economics
Recovering from New Zealand’s worst ever economic decision: The cancellation of the Kirk Government’s superannuation scheme
08 Sep 2024 1 Comment
in economic growth, economic history, fiscal policy, income redistribution, labour economics, labour supply, macroeconomics, politics - New Zealand, poverty and inequality, Public Choice, public economics
EEconomists wonder about the “New Zealand paradox”, which is that New Zealand under-performs economically given its policies, institutions, natural resources, educated people, and compliance with trade and other multi-lateral agreements. Our economic reforms from the mid-1980s and on were textbook economic theory and yet the real-world results disappointed. However, New Zealand has different policy settings […]
Recovering from New Zealand’s worst ever economic decision: The cancellation of the Kirk Government’s superannuation scheme
Jim Crow and Black Economic Progress After Slavery
05 Sep 2024 Leave a comment
in applied price theory, discrimination, economic history, economics of education, human capital, labour economics, labour supply, politics - USA, poverty and inequality Tags: economics of slavery, racial discrimination
This paper studies the long-run effects of slavery and restrictive Jim Crow institutions on Black Americans’ economic outcomes. We track individual-level census records of each Black family from 1850 to 1940, and extend our analysis to neighborhood-level outcomes in 2000 and surname-based outcomes in 2023. We show that Black families whose ancestors were enslaved until […]
Jim Crow and Black Economic Progress After Slavery
Marx explained
01 Sep 2024 Leave a comment
in applied price theory, Austrian economics, entrepreneurship, history of economic thought, human capital, income redistribution, labour economics, labour supply, law and economics, liberalism, Marxist economics, occupational choice, poverty and inequality, property rights, Public Choice
Why the @NZGreens are beside the point
31 Aug 2024 Leave a comment
in applied welfare economics, Austrian economics, comparative institutional analysis, constitutional political economy, development economics, economic growth, economic history, entrepreneurship, growth miracles, history of economic thought, human capital, income redistribution, industrial organisation, labour economics, labour supply, law and economics, liberalism, macroeconomics, Marxist economics, politics - New Zealand, poverty and inequality, property rights, Public Choice, rentseeking, technological progress Tags: child poverty, family poverty, The Great Enrichment
European Policies = European Stagnation
31 Aug 2024 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, constitutional political economy, economic growth, economic history, economics of bureaucracy, entrepreneurship, human capital, income redistribution, labour economics, labour supply, liberalism, macroeconomics, Marxist economics, politics - USA, poverty and inequality, Public Choice, public economics, rentseeking, welfare reform Tags: Europe, social insurance
I’ve written many times about how Americans are much richer than Europeans. And I’ve also written many times that the U.S. economy has been growing faster (which shouldn’t happen according to convergence theory). There’s a simple reason for America’s superior performance. The U.S. is burdened by a medium-sized welfare state and a bad tax system […]
European Policies = European Stagnation
The Obstacles for Escape
25 Aug 2024 Leave a comment
in defence economics, economics of crime, Economics of international refugee law, labour economics, labour supply, law and economics, war and peace Tags: Nazi Germany, The Holocaust, World War II
I often hear the argument, “Why did the Jews not simply leave Germany when Hitler got to power?” It was just not as simple as that. Many German and Austrian Jews saw themselves as German or Austrian first, and they considered themselves to be part of society. Why would they leave their homes and their […]
The Obstacles for Escape
Why Top CEOs Earn Big Paychecks
22 Aug 2024 Leave a comment
in applied price theory, economic history, economics of education, entrepreneurship, human capital, industrial organisation, labour economics, labour supply, liberalism, managerial economics, market efficiency, occupational choice, organisational economics, personnel economics, politics - USA, poverty and inequality, survivor principle Tags: CEO pay, superstar wages
CEO compensation at large firms is high, especially in comparison to average worker wages, sparking debates over income inequality. Critics argue that such pay packages are unfair and disproportionate to actual company performance. Proponents contend that high pay reflects productivity and is necessary to attract scarce top talent to large firms. Let’s go to the […]
Why Top CEOs Earn Big Paychecks
Telephone Operators: The Elimination of a Job
20 Aug 2024 Leave a comment
in economic growth, economic history, gender, history of economic thought, industrial organisation, labour economics, labour supply, macroeconomics, market efficiency, occupational choice, survivor principle, unemployment Tags: creative destruction
My tradition on this blog is to take a break (mostly!) from current events in the later part of August. Instead, I pre-schedule daily posts based on things I read during the previous year about three of my preoccupations: economics, editing/writing, and academia. With the posts pre-scheduled, I can then relax more deeply when floating…
Telephone Operators: The Elimination of a Job
New Zealand fact of the day
19 Aug 2024 Leave a comment
in international economics, labour economics, labour supply, politics - Australia, politics - New Zealand Tags: economics of immigration
In the year to June, 80,200 New Zealand citizens moved abroad, almost double the numbers prior to the Covid-19 pandemic. Meanwhile, just 24,900 returned, according to Stats NZ — the country’s official data agency. The net loss of 55,300 citizens (which follows a net loss of 56,500 in the year to April) smashed the previous record […]
New Zealand fact of the day
NZ now has an asylum problem
12 Aug 2024 Leave a comment
in Economics of international refugee law, labour economics, labour supply, law and economics, politics - New Zealand Tags: economics of immigration
Stuff reports: The number of people claiming refugee status in New Zealand has exploded in the past two years, statistics released by Immigration New Zealandshow. In the 11 months to 31 May 2024, a total of 2220 people claimed refugee status in New Zealand. Half of these asylum seekers – 1108 people – were from a […]
NZ now has an asylum problem
Minnesota’s Failed Class-Warfare Tax Policy
11 Aug 2024 Leave a comment
in applied price theory, applied welfare economics, economic growth, fiscal policy, labour economics, labour supply, macroeconomics, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
Writing about Mitt Romney’s selection of Paul Ryan in 2012, I opined that, “…it probably means nothing. I don’t think there’s been an election in my lifetime that was impacted by the second person on a presidential ticket.” I feel the same way about Tim Walz, who is Kamala Harris’ pick for Vice President. But […]
Minnesota’s Failed Class-Warfare Tax Policy
The Creation of Ride-sharing and the Creativity of Markets
10 Aug 2024 Leave a comment
in applied price theory, econometerics, economic history, economics of regulation, income redistribution, industrial organisation, labour economics, labour supply, law and economics, occupational choice, politics - USA, property rights, Public Choice, public economics, regulation, rentseeking, survivor principle, theory of the firm Tags: barriers to entry, creative destruction, taxi regulation
The idea behind Uber first arose, the story goes, on a snowy evening in Paris back around 2008, when Travis Kalanick and Garrett Camp found themselves stuck in Paris on a snowy evening, unable to find a taxi. They wondered “What if you could request a ride simply by tapping your phone?” They co-founded Uber based…
The Creation of Ride-sharing and the Creativity of Markets
Basic income, again
09 Aug 2024 Leave a comment
in applied price theory, econometerics, labour economics, labour supply, poverty and inequality, unemployment, welfare reform Tags: universal basic income
This week’s column for the Stuff papers covered the excellent new US work testing the effects of a UBI. From November 2020, 3000 low-income people were randomly assigned into two groups for three years. One thousand people each received $1000 per month in unconditional funds for three years. Two thousand people each received $50 per month.Both…
Basic income, again
Communism still doing well in Cuba
05 Aug 2024 Leave a comment
in comparative institutional analysis, constitutional political economy, development economics, economic history, economics of bureaucracy, economics of crime, growth disasters, income redistribution, labour economics, labour supply, law and economics, Marxist economics, property rights, Public Choice, public economics Tags: Cuba
The Miami Herald reports: A stunning 10% of Cuba’s population — more than a million people — left the island between 2022 and 2023, the head of the country’s national statistics office said during a National Assembly session Friday, the largest migration wave in Cuban history. Isn’t it such a weird coincidence that the queue […]
Communism still doing well in Cuba
Utopia, you are standing in it! 
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