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College premium
18 Jun 2024 Leave a comment
in economics of education, human capital, labour economics, labour supply, occupational choice, poverty and inequality, unemployment Tags: graduate premium
The 2024 Hayek Lecture: Phil Gramm & John Early on “The Myth of American…
04 Jun 2024 Leave a comment
in applied price theory, applied welfare economics, economic history, economics of education, entrepreneurship, human capital, labour economics, labour supply, occupational choice, politics - USA, poverty and inequality
Has Worker Pay Kept Up with Productivity Growth?
02 Jun 2024 Leave a comment
in applied price theory, econometerics, economic history, human capital, labour economics, labour supply, poverty and inequality
You will be astonished, gentle reader, to learn that the question of whether worker pay has kept up with productivity growth turns out to depend on 1) how you measure worker pay; and 2) how you measure productivity growth. Scott Winship considers the alternatives and issues in “Understanding Trends in Worker Pay over the Past…
Has Worker Pay Kept Up with Productivity Growth?
Karen Chhour Skewers The Maori Party
31 May 2024 Leave a comment
in economic history, economics of crime, economics of education, income redistribution, labour economics, law and economics, liberalism, Marxist economics, politics - New Zealand, poverty and inequality, property rights, Public Choice, public economics Tags: child abuse, child poverty, crime and punishment, family poverty, law and order
Article is by Chris Lynch and I have pinched this one from The BFD Blog. `ĀCT MP Karen Chhour has responded to the Maori Party’s “divisive outbursts.” Co-leader Rawiri Waititi said yesterday, ‘It’s now time for us to step comfortably into our rangatiratanga and to not give too much to this Pakeha Government with their […]
Karen Chhour Skewers The Maori Party
The Patriarchy Must Be Smashed
26 May 2024 Leave a comment
in discrimination, economic history, economics of education, economics of information, gender, health and safety, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: gender wage gap, sex discrimination
And it looks like it’s well on the way to being so, given these interesting stats out of the USA. I’d love to know how New Zealand compares in many of these categories One more generation should see large numbers of these well-educated female graduates rising to high levels of private and public sector power. […]
The Patriarchy Must Be Smashed
Debunking Bad Class Warfare and Debunking Nonsensical Class Warfare
19 May 2024 Leave a comment
in applied price theory, economic history, economics of education, entrepreneurship, human capital, income redistribution, industrial organisation, labour economics, labour supply, occupational choice, politics - USA, poverty and inequality, Public Choice Tags: taxation and entrepreneurship, taxation and investment
Like Thomas Piketty, Gabriel Zucman is a French economist who promotes economically destructive class-warfare tax policy. He’s also infamous for dodgy data manipulation, as Phil Magness explains in this Reason discussion. The interview lasts for 64 minutes, and I recommend the entire discussion. Yes, that’s a lot of time, but Phil has encyclopedic knowledge and […]
Debunking Bad Class Warfare and Debunking Nonsensical Class Warfare
Why the Global Free Market Will Save the World
23 Apr 2024 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, development economics, economic growth, economic history, energy economics, environmental economics, global warming, growth disasters, growth miracles, health economics, history of economic thought, income redistribution, labour economics, law and economics, liberalism, macroeconomics, Marxist economics, politics - Australia, politics - New Zealand, politics - USA, poverty and inequality, property rights, Public Choice, public economics, rentseeking Tags: anticapitalist mentality, capitalism and freedom
Hiring discrimination sentences to ponder
23 Apr 2024 Leave a comment
in applied price theory, discrimination, econometerics, economics of education, economics of information, human capital, labour economics, labour supply, law and economics, managerial economics, organisational economics, personnel economics, politics - USA, poverty and inequality Tags: gender wage gap, implicit bias, racial discrimination, sex discrimination
Several common measures — like employing a chief diversity officer, offering diversity training or having a diverse board — were not correlated with decreased discrimination in entry-level hiring, the researchers found. But one thing strongly predicted less discrimination: a centralized H.R. operation. The researchers recorded the voice mail messages that the fake applicants received. When a company’s […]
Hiring discrimination sentences to ponder
“The Simple Macroeconomics of AI”
21 Apr 2024 Leave a comment
in applied price theory, economic growth, entrepreneurship, human capital, industrial organisation, labour economics, labour supply, macroeconomics, poverty and inequality Tags: artificial intelligence
That is the new Daron Acemoglu paper, and he is skeptical about its overall economic effects. Here is part of the abstract: Using existing estimates on exposure to AI and productivity improvements at the task level, these macroeconomic effects appear nontrivial but modest—no more than a 0.71% increase in total factor productivity over 10 years.…
“The Simple Macroeconomics of AI”
Diverse MBA teams perform worse
14 Apr 2024 Leave a comment
in applied price theory, discrimination, economics of education, entrepreneurship, gender, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: gender wage gap, sex discrimination
From “Diversity and Performance in Entrepreneurial Teams” (SSRN): Among the randomly-assigned teams [of MBA students], greater diversity along the intersection of gender and race/ethnicity significantly reduced performance. However, the negative effect of this diversity is alleviated … [when teams can choose their teammates]…teams with more female members perform substantially better when their faculty section leader was also…
Diverse MBA teams perform worse
A Socialist Explains Why Socialism Can’t Work
13 Apr 2024 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, economics of bureaucracy, economics of regulation, history of economic thought, human capital, income redistribution, industrial organisation, labour economics, labour supply, law and economics, liberalism, Marxist economics, poverty and inequality, property rights, Public Choice, public economics, survivor principle, theory of the firm Tags: economics of socialism, regressive left
Not that the socialist in question, Professor Richard D. Wolff, realises that’s what he’s doing in the Q&A video below – and he’s not talking about traditional Communist Command and Controlled Economies. What he’s actually describing is a very pure form of socialism, the sort only vaguely imagined by Marx, Engels and other communists when […]
A Socialist Explains Why Socialism Can’t Work
Handbag authenticators (creative destruction and how the economy just keeps creating new types of occupations & professions)
10 Apr 2024 Leave a comment
in applied price theory, development economics, economics of information, human capital, industrial organisation, labour economics, labour supply, occupational choice, poverty and inequality Tags: consumer fraud, creative destruction
I’ve posted about many new jobs like this. See related posts below. Also, this post is based on yesterday’s post You Spent $6,000 on a Secondhand Chanel Bag. Now Find Out if It Is Real. It had excerpts from an article by Chavie Lieber of The WSJ. Here are excerpts related to today’s post:”Many secondhand luxury shoppers…
Handbag authenticators (creative destruction and how the economy just keeps creating new types of occupations & professions)
A Conversation with Gary Becker
10 Apr 2024 Leave a comment
in applied price theory, behavioural economics, comparative institutional analysis, discrimination, economic history, economics of education, economics of information, Gary Becker, gender, history of economic thought, human capital, labour economics, labour supply, occupational choice, poverty and inequality
Harris’ Major Malfunction
09 Apr 2024 Leave a comment
in economics of education, economics of media and culture, health economics, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: behavioural genetics
Judith Harris’ The Nurture Assumption was a huge influence on me, and the top inspiration for my Selfish Reasons to Have More Kids. Her book’s first main lesson is that family resemblance, defined in the broadest possible way to include physical, psychological, and social outcomes, is mostly driven by genetics rather than upbringing. Her book’s…
Harris’ Major Malfunction
Cuba Libre
05 Apr 2024 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, development economics, economic history, economics of bureaucracy, economics of crime, growth disasters, history of economic thought, human capital, income redistribution, industrial organisation, labour economics, labour supply, law and economics, liberalism, Marxist economics, politics - USA, poverty and inequality, Public Choice, public economics, rentseeking Tags: Cuba
Martin Gurri has a very good, deep-dive on the current situation in Cuba. The wreckage of the Cuban economy really can’t be exaggerated. The perpetual blackouts are an apt symbol of a country that is headed for the dark ages. For the first time since the revolution, Cuba is begging the United Nations for food aid. Nearly […]
Cuba Libre
Utopia, you are standing in it! 
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