The population bust
07 May 2026 Leave a comment
in economics of love and marriage, gender, labour economics, labour supply, law and economics, population economics Tags: ageing society, population bust
The Tragic Hysteria of Abortion
06 May 2026 Leave a comment
in discrimination, economics of crime, gender, health economics, law and economics Tags: abortion law reform
The radical pro-life position — “Abortion is as immoral as murdering a baby” — is easily refuted with a simple thought experiment. Namely: If you could either save one human baby from a fire, or a dozen human embryos, what are you morally obliged to do? 2,263 more words
The Tragic Hysteria of Abortion
African and Muslim roles in the African slave trade
01 May 2026 Leave a comment
in economic history, economics of crime, labour economics, labour supply, law and economics Tags: economics of slavery
The False Simplicity of Blaming “the West” Alone for the African Slave Trade On March 25, 2026, the UN General Assembly adopted a controversial resolution declaring the transatlantic slave trade and racialized chattel enslavement of Africans as the “gravest crime against humanity,” championed by Ghana on behalf of the African Union. The resolution, passed with 123 votes […]
African and Muslim roles in the African slave trade
Technological unemployment in Victorian Britain
29 Apr 2026 Leave a comment
in applied price theory, econometerics, economic history, human capital, labour economics, labour supply, occupational choice Tags: creative destruction
We do not know whether technological unemployment swept across England in the wake of the British Industrial Revolution. In this paper, I propose an approach to quantify jobs lost to, and created by, creative destruction in the 19th century. Using over 170 million individual records from the full-count British census (1851–1911), I generate sub-industry “task”…
Technological unemployment in Victorian Britain
Quotation of the Day…
28 Apr 2026 Leave a comment
in discrimination, labour economics, Thomas Sowell
Tweet… is from page 125 of Thomas Sowell’s 1999 book, Barbarians Inside the Gates: Ironically, both affirmative action and the argument for genetic inferiority of blacks use the same logic. They assume that statistical results not explainable by obvious gross differences must be explainable by the underlying factor they prefer to believe in. DBx: Indeed.…
Quotation of the Day…
The Luddites Were the First to Attack AI
28 Apr 2026 Leave a comment
in applied price theory, economic history, industrial organisation, labour economics, labour supply Tags: creative destruction
Everyone knows the Luddites smashed looms. What is less appreciated is that the loom was the first serious programmable device — the direct ancestor of the computer. Thus, the Luddites weren’t just the first to resist automation. They were the first to attack AI. The Jacquard loom, introduced in France circa 1805, used a chain…
The Luddites Were the First to Attack AI
Why do Americans No Longer Work So Much More Than Non-Americans?
27 Apr 2026 Leave a comment
in applied price theory, econometerics, economic history, labour economics, labour supply
In the 1990s, Americans used to work much more than non-Americans. Nowadays, about half of the gap in hours worked has reversed. To evaluate the convergence of working hours, we develop a tractable model of labor supply enriched with multiple sources of heterogeneity across individuals, an extensive margin of participation, multi-member households, and an elaborate…
Why do Americans No Longer Work So Much More Than Non-Americans?
Quotation of the Day…
25 Apr 2026 Leave a comment
in applied price theory, history of economic thought, industrial organisation, international economics, labour economics, labour supply Tags: India
Tweet… is from page 150 of Columbia University economics professor Arvind Panagariya’s brilliant 2019 book, Free Trade and Prosperity: In India, Bihar is the poorest state and Kerala one of the richest. Going by the Gini coefficient, Bihar is among the states with the least inequality and Kerala among those with the highest inequality. If…
Quotation of the Day…
The Washington Post vs Elizabeth Warren
25 Apr 2026 Leave a comment
in applied price theory, economics of media and culture, fiscal policy, human capital, income redistribution, labour economics, labour supply, macroeconomics, politics - USA, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
People sometimes will get excited about big-picture tax fights – whether politicians should raise taxes, whether they should add a VAT, or whether they should scrap the IRS for a flat tax. On the other had, there are a handful of tax issues that induce drowsiness but are nonetheless very important for purposes of tax […]
The Washington Post vs Elizabeth Warren
The Chinese Current Account Imbalances
21 Apr 2026 Leave a comment
in applied price theory, development economics, econometerics, economic history, economics of love and marriage, financial economics, growth miracles, labour economics, labour supply, population economics Tags: China
The subtitle of the paper is Puzzles, Patterns, and Possible Causes. Here is the abstract: China’s large current account surplus has been an irritant to its trading partners. While industrial and trade policies often lead to sector-level imbalances, they play a relatively limited role in the economy-wide surplus. Structural factors such as an unbalanced sex…
The Chinese Current Account Imbalances
Does this have implications for higher ed in particular?
20 Apr 2026 Leave a comment
in economics of education, human capital, labour economics, labour supply, population economics
Declining fertility and population loss pose significant challenges for state and federal local governments responsible for providing a range of services to citizens, including education, health care, and infrastructure. Indeed, many areas are already experiencing outright population decline, with roughly half of U.S. counties losing population between 2010 and 2020. This paper examines how shrinking…
Does this have implications for higher ed in particular?
The Laffer Curve and Limits to Class Warfare Tax Policy, Part II
19 Apr 2026 Leave a comment
in applied price theory, econometerics, entrepreneurship, fiscal policy, human capital, income redistribution, labour economics, labour supply, macroeconomics, poverty and inequality, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
In Part I of this series back in 2014, we looked at some academic research from Canada showing that the revenue-maximizing tax rate on the richest taxpayers was 27.5 percent. A key insight from that research is that high-income taxpayers have considerable control over the timing, level, and composition of their income (just like in […]
The Laffer Curve and Limits to Class Warfare Tax Policy, Part II
The President(s) Fought the Law and the Law Won
18 Apr 2026 Leave a comment
in applied price theory, economic history, history of economic thought, income redistribution, industrial organisation, international economics, labour economics, labour supply, politics - USA, poverty and inequality, Public Choice, rentseeking, survivor principle Tags: creative destruction, free trade, tarrifs
In our textbook, Modern Principles, Tyler and I emphasize that Congress and the President are subject to a higher law, the law of supply and demand. In an excellent column, Jason Furman gives a clear example of how difficult it is to fight the law of inelastic demand: …Today a given number of autoworkers can…
The President(s) Fought the Law and the Law Won
Interview with Ellen McGrattan: Business Cycles and Intangible Capital
17 Apr 2026 Leave a comment
in business cycles, Edward Prescott, entrepreneurship, financial economics, global financial crisis (GFC), great recession, history of economic thought, human capital, labour economics, macroeconomics, monetary economics, occupational choice, Robert E. Lucas
Tim Sablik of the Richmond Fed interviews “Ellen McGrattan: On measuring what businesses do, developing effective tax policy, and searching for answers beyond the lamppost” (Econ Focus: Federal Reserve Bank of Richmond, First/Second Quarter 2026). Here are a few of the comments that caught my eye: How did McGrattan become interested in business cycles? In…
Interview with Ellen McGrattan: Business Cycles and Intangible Capital
Guest Post: IOC Restores Common Sense to Women’s Sport – Now It’s Time for New Zealand to Follow Suit
16 Apr 2026 Leave a comment
in discrimination, gender, politics - New Zealand, sports economics Tags: sex discrimination
A guest post by Ro Edge, New Zealand Spokesperson, Save Women’s Sport Australasia (SWSA): The decision by the International Olympic Committee to restore the core purpose of women’s sport: providing biological females with a fair and safe arena to compete, is long-overdue. For years, many sporting bodies adopted the IOC’s earlier open-door policy, leading to…
Guest Post: IOC Restores Common Sense to Women’s Sport – Now It’s Time for New Zealand to Follow Suit
Utopia, you are standing in it! 
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