Economist: In America returns are especially large in computer science and in engineering. They are slightly smaller in other science subjects, in part because an undergraduate degree in these already bumps up salaries by quite a lot. Teachers who bag graduate degrees in education tend to earn more, even if wages for the profession as…
Is your master’s degree worthless?
Is your master’s degree worthless?
11 Mar 2025 Leave a comment
in applied price theory, econometerics, economics of education, human capital, labour economics, labour supply
SEC Climate Risk Rule is Entrapment
11 Mar 2025 Leave a comment
in economic history, economics of climate change, economics of regulation, environmental economics, environmentalism, financial economics, global warming, law and economics, politics - USA, property rights Tags: climate activists, efficient markets hypothesis
Stone Washington and William Happer explain the nefarious and ill-advised decree in their article SEC’s Climate Risk Disclosure Rule Would Compel Companies to Make Scientifically False and Misleading Disclosures. Excerpts in italics with my bolds and added images. In March last year, the Securities and Exchange Commission issued its climate risk disclosure rule, called “The […]
SEC Climate Risk Rule is Entrapment
US AID, current status
11 Mar 2025 Leave a comment
in development economics, economics of bureaucracy, politics - USA, Public Choice Tags: 2024 presidential election, overseas aid
After a 6 week review we are officially cancelling 83% of the programs at USAID. The 5200 contracts that are now cancelled spent tens of billions of dollars in ways that did not serve, (and in some cases even harmed), the core national interests of the United States. In consultation with Congress, we intend for […]
US AID, current status
The WaPo describes (and distorts) a big “culture war” in New Zealand
10 Mar 2025 Leave a comment
in defence economics, discrimination, economic history, law and economics, politics - New Zealand, property rights, Public Choice Tags: affirmative action, Age of Enlightenment, constitutional law, free speech, media bias, political correctness, racial discrimination, regressive left
ADDENDUM: See added comments and clarifications under “addendum” at bottom. ******************** I’ve written many times about the battle of the indigenous people in New Zealand (the Māori) to get their “way of knowing”—which includes a lot of superstition and unreliable word-of-mouth “knowledge,” as well as legends and morality—adopted as official policy or as a “way […]
The WaPo describes (and distorts) a big “culture war” in New Zealand
My Former Economics MPhil and DPhil Class-Mate for many hard years, Mark Carney, becomes PM of Canada.
10 Mar 2025 Leave a comment
in business cycles, economic history, economics of bureaucracy, economics of education, history of economic thought, human capital, inflation targeting, labour economics, labour supply, macroeconomics, monetary economics, occupational choice, politics - New Zealand, Public Choice Tags: Canada, monetary policy
Congratulations Mark Carney. When I went to the UK to study economics, we started off doing a degree called Master of Philosophy in…
My Former Economics MPhil and DPhil Class-Mate for many hard years, Mark Carney, becomes PM of Canada.
Jane Austen was wrong: women don’t marry up for money and status
10 Mar 2025 1 Comment
in economics of love and marriage, economics of marriage, human capital, labour economics, law and economics, poverty and inequality Tags: dating markets, gender wage gap, marriage and divorce, sex discrimination
A new study debunks the myth of the gold-digging wife, finding that women are no more likely to marry above their social class than menBy Ben Spencer, Science Editor of The Sunday Times. Excerpts:”The young pretty women who seek to “marry up” for money and status, from the Bennet sisters in Pride and Prejudice to…
Jane Austen was wrong: women don’t marry up for money and status
Gavin Newsom breaks with “progressive” Democrats, proclaims that trans-identified men competing in women’s sports is “unfair”
10 Mar 2025 1 Comment
in discrimination, economics of education, gender, liberalism, Marxist economics, politics - USA Tags: Age of Enlightenment, free speech, political correctness, regressive left, sex discrimination
It’s not only unconscionable for “progressive” Democrats to cheer on trans-identified males (“transwomen”) who compete in women’s sports, but that behavior certainly hurt the Democrats, especially because most Americans, including Democrats, think that this kind of participation should be forbidden: A recent New York Times/Ipsos survey found the vast majority of Americans, including a majority…
Gavin Newsom breaks with “progressive” Democrats, proclaims that trans-identified men competing in women’s sports is “unfair”
Bill Maher’s New Rule: Guilt by Civilization
09 Mar 2025 Leave a comment
in development economics, discrimination, economic history, economics of crime, economics of education, law and economics, liberalism, Marxist economics, politics - New Zealand, politics - USA, property rights, television, TV shows Tags: Age of Enlightenment, free speech, political correctness, regressive left, The Great Enrichment
For some reason Bill Maher’s latest comedy/news video, “New Rules: Guilt by Civilization”, is age-restricted (it must be the photo of Bianca Censori in her see-through outfit) , but you can see it by clicking either here or on the “Watch on YouTube” line below. The beginning is great, as Maher claims that the Democrats […]
Bill Maher’s New Rule: Guilt by Civilization
Women’s rights vs men’s demands
09 Mar 2025 Leave a comment
in discrimination, economics of education, gender, law and economics, liberalism, Marxist economics, politics - Australia, property rights Tags: conjecture and refutation, free speech, philosophy of science, political correctness, regressive left, sex discrimination
It’s still International Women’s Day in some parts of the world. There are still people who believe their feelings about their gender can trump biological facts. There are still people who risk their jobs if they question gender ideology. But there are also people fighting back, among them is Sall Grover: The founder of a […]
Women’s rights vs men’s demands
Working paper: Why nationalize the production of public goods?
09 Mar 2025 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, economic history, economics of bureaucracy, entrepreneurship, health economics, history of economic thought, Public Choice, public economics, rentseeking
I have a new working paper out. It proposes a price theory-based explanation of why states nationalize the production of “public goods” (i.e., non-excludable and non-rivalrous). This is different than existing explanations as the theory ignores whether private provision is efficient or superior to public provision. I call it the “redistributive engine” theory whereby the […]
Working paper: Why nationalize the production of public goods?
Bernanke on inflation targeting
09 Mar 2025 Leave a comment
in applied price theory, budget deficits, business cycles, economic growth, economic history, financial economics, fiscal policy, history of economic thought, inflation targeting, labour economics, macroeconomics, monetary economics, politics - New Zealand, unemployment Tags: monetary policy
Former chairman of the Federal Reserve Board of Governors (and FOMC), Ben Bernanke, was yesterday the first of two keynote speakers at the Reserve Bank’s conference to mark 35 years of inflation targeting, which first became a formalised thing here in New Zealand. He indicated that he’d be speaking about inflation targeting in general and […]
Bernanke on inflation targeting
Max Rashbrooke has been kidnapped again to be replaced by a neoliberal doppelganger
08 Mar 2025 Leave a comment
in applied price theory, comparative institutional analysis, economics of bureaucracy, industrial organisation, managerial economics, market efficiency, organisational economics, politics - New Zealand, Public Choice, public economics Tags: privatisation
Jury nullification in the air for terrorists
08 Mar 2025 Leave a comment
in economics of climate change, economics of crime, environmental economics, environmentalism, global warming, law and economics, politics - New Zealand Tags: climate activists, juries
How Much Do Tariffs Raise Prices?
08 Mar 2025 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation, international economics, politics - USA Tags: 2024 presidential election, free trade, tariffs
We break down how much of a tariff is ‘passed through’ to customersBy Jason Douglas, Anthony DeBarros and Danny Dougherty of The WSJ. Excerpts:”For example, a 10% tariff on shoes from China would raise their sticker price 4% or so, but on wine or olive oil from Italy, almost 10%.Why the difference? Tariffs aren’t the…
How Much Do Tariffs Raise Prices?
The Licensing Racket
08 Mar 2025 Leave a comment
in applied price theory, economics of bureaucracy, entrepreneurship, human capital, income redistribution, industrial organisation, labour economics, labour supply, law and economics, occupational choice, occupational regulation, property rights, Public Choice, rentseeking
I review a very good new book on occupational licensing, The Licensing Racket by Rebecca Haw Allensworth in the WSJ. Most people will concede that licensing for hair braiders and interior decorators is excessive while licensing for doctors, nurses and lawyers is essential. Hair braiders pose little to no threat to public safety, but subpar […]
The Licensing Racket
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