Celebrating humanity's flourishing through the spread of capitalism and the rule of law
18 Sep 2024 Leave a comment
in applied price theory, comparative institutional analysis, economic history, history of economic thought, human capital, job search and matching, labour economics, labour supply, law and economics, occupational choice, poverty and inequality Tags: British politics, compensating differences, pay equity
The UK’s Orwellian sounding Equality Act 2010 is strikingly Marxist. It demands equal pay for work of equal value where these are defined as follows: A’s work is equal to that of B if it is like B’s work, rated as equivalent to B’s work, or of equal value to B’s work. A’s work is […]
Equality Act 2010
17 Sep 2024 Leave a comment
in applied price theory, econometerics, economic history, entrepreneurship, fiscal policy, human capital, income redistribution, labour economics, labour supply, macroeconomics, occupational choice, poverty and inequality, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
By Eric Pichet, here is the abstract: Despite attempts to ‘unwind’ the Impôt de Solidarité sur la Fortune (‘Solidarity Wealth Tax,’ the French wealth tax) during the last legislature (2002-2007), ISF yields had soared by 2006, jumping from €2.5 billion in 2002 to €3.6 billion. Analysis of the economic consequences of this ISF wealth tax […]
The Economic Consequences of the French Wealth Tax
17 Sep 2024 Leave a comment
in applied price theory, economic growth, entrepreneurship, Federalism, fiscal policy, human capital, income redistribution, labour economics, labour supply, macroeconomics, occupational choice, politics - USA, poverty and inequality, Public Choice, public economics Tags: capital gains tax, taxation and investment taxation and entrepreneurship, taxation and labour supply
I’m a big fan of tax competition. I cheer when jobs, investment, and people (or even booze) move from high-tax jurisdictions to low-tax jurisdictions. This increases the rewards for good policy and also increases the punishment for bad policy. Given my interest in the topic, I obviously can’t resist sharing this chart, which shows the […]
Tax-Motivated Domestic Migration
11 Sep 2024 Leave a comment
in applied price theory, comparative institutional analysis, economics of regulation, entrepreneurship, industrial organisation, labour economics, labour supply, law and economics, occupational choice, politics - New Zealand, property rights, Public Choice, transport economics, urban economics Tags: employment law, Uber
Caught a fun phone call from an accountant after this week’s column over at the Dom Post (and Christchurch Press, etc) on the court’s decision in the Uber case.If Uber drivers are employees, rather than contractors, as the Court sees things, how will depreciation on their cars be handled? Contractors can count all those expenses…
Uber messy
09 Sep 2024 Leave a comment
in applied price theory, economics of regulation, labour economics, labour supply, law and economics, occupational choice, occupational regulation, property rights, Public Choice, rentseeking, transport economics, urban economics Tags: employment law, Uber
Dr Oliver Hartwich writes – Last week, an Uber driver surprised me in a conversation about the recent Court of Appeal decision classifying four Uber drivers as employees rather than contractors. My driver was blunt. He has no desire to be an employee. He values his flexibility to take breaks and drive when and where […]
Uber ruling – driving in the wrong direction
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
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
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
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
28 Jul 2024 Leave a comment
in applied price theory, discrimination, economic history, economics of education, gender, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: gender wage gap, sex discrimination
23 Jul 2024 Leave a comment
in applied price theory, econometerics, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: basic income
By Eva Vivalt, Elizabeth Rhodes, Alexander W. Bartik, David E. Broockman, Sarah Miller, Here is the link, but I am still sleeping. Here is the abstract: We study the causal impacts of income on a rich array of employment outcomes, leveraging an experiment in which 1,000 low-income individuals were randomized into receiving $1,000 per month […]
The employment effects of a guaranteed income
29 Jun 2024 Leave a comment
in discrimination, economic history, economics of education, gender, history of economic thought, human capital, labour economics, labour supply, occupational choice, politics - USA, poverty and inequality Tags: gender wage gap, sex discrimination
Claudia Goldin’s Nobel prize lecture, “An Evolving Economic Force,” has now been published in the June 2024 issue of the American Economic Review. Or if you prefer, you can watch the watch the lecture (with more numerous slides!) from the link at the Nobel website. She writes: Women are now at the center of the…
The Evolving Economic Role of Women: Goldin’s Nobel Lecture
23 Jun 2024 Leave a comment
in applied price theory, applied welfare economics, economics of regulation, health and safety, labour economics, labour supply, law and economics, occupational choice, politics - New Zealand
Peter Dunne writes – In 2016 New Zealand instituted comprehensive new health and safety laws for workplaces and other areas of activity. The expectation was that the new regime the legislation introduced would dramatically improve the culture and practice around safety in the workplace, reduce the numbers of accidents and save lives. However, the most […]
Health and Safety laws
19 Jun 2024 Leave a comment
in applied price theory, labour economics, labour supply, market efficiency, occupational choice, personnel economics Tags: working from home
From a new NBER working paper by Steven J. Davis: Two extraordinary U.S. labor market developments facilitated the sharp disinflation in 2022-23 without raising the unemployment rate. First, pandemic-driven infection worries and social distancing intentions caused a sizable drag on labor force participation that began to reverse in the first quarter of 2022, and perhaps […]
Extraordinary Labor Market Developments and the 2022-23 Disinflation
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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