This is what it’s like to go undercover in North Korea | Suki Kim
04 Jun 2019 Leave a comment
in defence economics, development economics, economics of education, growth disasters Tags: North Korea
Why renewables can’t save the planet | Michael Shellenberger | TEDxDanubia
04 Jun 2019 Leave a comment
in energy economics, environmental economics, global warming Tags: The fatal conceit
Robustness in Economics and Econometrics: Interview with Tom Sargent
04 Jun 2019 Leave a comment
in budget deficits, business cycles, econometerics, economic growth, economic history, economics of information, Edward Prescott, financial economics, global financial crisis (GFC), great depression, great recession, macroeconomics, market efficiency, monetary economics, Robert E. Lucas Tags: Thomas Sargent
Paleo Got It Wrong: We’ve Loved Carbs for Over 100,000 Years
04 Jun 2019 Leave a comment
in economics of media and culture
How the Atomic Race Was Won
04 Jun 2019 Leave a comment
in defence economics, war and peace Tags: Atomic weapons, World War II
Homeopathy, quackery and fraud | James Randi
04 Jun 2019 Leave a comment
in economics of crime, economics of information, economics of media and culture, law and economics Tags: cranks
Why @BernieSanders’ Communist Misadventures Still Matter
04 Jun 2019 Leave a comment
in comparative institutional analysis, constitutional political economy, development economics, economic growth, economic history, economics of bureaucracy, economics of information, energy economics, environmental economics, financial economics, growth disasters, health economics, income redistribution, industrial organisation, international economics, labour economics, law and economics, macroeconomics, Marxist economics, politics - USA, property rights, Public Choice, public economics Tags: 2020 presidential election, The fatal conceit, useful idiots
IEA Big IdEAs: Professor William Nordhaus
04 Jun 2019 Leave a comment
in applied price theory, applied welfare economics, energy economics, environmental economics, global warming Tags: The fatal conceit
An Inconvenient Border: Where China Meets North Korea | ABC News 2017
04 Jun 2019 Leave a comment
in defence economics, development economics, growth disasters, growth miracles, law and economics, war and peace Tags: China, North Korea
Ten Minute History – Mussolini and Fascist Italy
04 Jun 2019 Leave a comment
in defence economics, economic history, war and peace Tags: Italy, World War I, World War II
The Laffer curve is in the news
03 Jun 2019 Leave a comment
in applied price theory, politics - USA, public economics
Why Wind Power Can Never Work (Unless it’s Rocketing Power Prices & Environmental Destruction You’re After?)
03 Jun 2019 Leave a comment
Australian voters just rejected a massive increase in wind and solar, relegating Bill Shorten and his 50% RET to the dusty pages of history.
Having had 20 years or so to convince Australians of the purported ‘merits’ of throwing more than $4,000,000,000 in subsidies at chaotically intermittent wind and solar each year, the rent seekers behind those ‘industries’ are struggling to gain traction these days. And they’re struggling to remain relevant, sane and upbeat about their future, when the subsidies inevitably run out or get scrapped, whichever occurs first.
The “shock” election result has left many of them suicidal, which probably has something to do with the fact that they went after the Liberal Energy Minister, Angus Taylor before the election, haranguing him about his personal vendetta against subsidies for wind power. Now that he’s back in power, they understand that their nightmare has only just begun. Oops!
As to…
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The Macroeconomics of the Greek Depression: Would devaluation have helped
03 Jun 2019 Leave a comment
The Greek economy experienced a boom until 2007, followed by a prolonged depression resulting in a 25 percent shortfall of GDP by 2016. Informed by a detailed analysis of macroeconomic patterns in Greece, we develop and estimate a rich dynamic general equilibrium model to assess quantitatively the sources of the boom and bust.
Lower external demand for traded goods and contractionary fiscal policies account for the largest fraction of the Greek depression. A decline in total factor productivity, due primarily to lower factor utilization, substantially amplifies the depression.
Given the significant adjustment of prices and wages observed throughout the cycle, a nominal devaluation would only have short-lived stabilizing effects.
By contrast, shifting the burden of adjustment from taxes toward spending or from capital taxes toward other taxes would generate significant longer-term production and consumption gains.
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