Climate Change Is NOT An Emergency
14 Apr 2022 Leave a comment
in applied welfare economics, comparative institutional analysis, development economics, economic history, energy economics, environmental economics, global warming Tags: climate alarmism
The Toledo War: When Ohio and Michigan Went to War and Wisconsin Lost
14 Apr 2022 Leave a comment
in economic history, law and economics
The Social Contagion Of Mental Disorders
14 Apr 2022 Leave a comment
in economics of education, health economics, liberalism, Marxist economics, politics - Australia, politics - New Zealand, politics - USA Tags: economics of mental illness, free speech, political correctness, regressive left
Democrat’s Green New Deal: Part Energy Fantasy/Part Economic Suicide Pact
13 Apr 2022 Leave a comment
Hubris and arrogance are essential character traits for those pretending that we’re well on our way to an all-wind and sun-powered future. Helpfully, the terrible events unfolding in Ukraine have exposed that whopping lie, for all to see.
Energy self-reliance is back on the agenda, with a vengeance, and that means fossil fuels and nuclear power are back in vogue, like long-lost relatives.
But, not for want of trying, the Democrats and their senile leader would have Americans believe that all is well with their Great Green Reset aka the Green New Deal.
Jerry Shenk retorts in fine style, below.
Sow the wind (power), reap the whirlwind
The Mercury
Jerry Shenk
14 March 2022
The Law of Supply and Demand is as consistent as gravity.
Americans who understand the benefits of ample supply — seventy percent — favor producing more domestic oil and gas.
Nonetheless, President(ish) Joe Biden, his administration…
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Israel 1983: A bout of unpleasant monetarist arithmetic
13 Apr 2022 Leave a comment
in applied price theory, budget deficits, economic history, financial economics, fiscal policy, macroeconomics, monetarism, monetary economics Tags: hyperinflation
France’s toxic combo of institutions finally bites
13 Apr 2022 Leave a comment
I still think Emmanuel Macron will win reelection, but it is going to be a closer fight than most prognosticators expected before this past Sunday’s first round. In the results of that vote, Macron has the expected plurality, and it was a few percentage points higher than he got in 2017 (27.8% vs. 24.0%). His runoff opponent in both 2017 and later this month, Marine Le Pen, also improved a bit over last time (23.3% vs. 21.3%). What is new–or really accelerating a trend that was already there–is the total collapse of older established parties. The Republican (mainstream right) got 20% in 2017 but only 4.8% this time, fifth place. The Socialists were already in dire shape in 2017 with 6.4%, but did even worse this time, 1.75%, despite (or because?) of running the mayor of Paris. Jean-Luc Mélenchon of La France Insoumise, a far left group, made the race…
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Leftist Tax Policy: Shoot at the Rich, Wound the Poor
13 Apr 2022 Leave a comment
Folks on the left tell us that they want to help the less fortunate.
I sometimes wonder if their real motive is to penalize success and punish the “rich,” but let’s be charitable and assume that many of them truly wish to help the poor.
That’s a noble sentiment, to be sure, but this is why it’s also important to look at the consequences of policy, not just the intentions.
I explained last year that certain left-wing fiscal, regulatory, and monetary policies actually harm the poor and help the rich, and I augmented that analysis earlier this year by showing how farm policies line the pockets of upper-income people.
Let’s now add to this research by looking at a new study (h/t: Tyler Cowen) from Mario Alloza of University College London. Here are some of the key findings from the study’s abstract.
Household panel…between 1967 and 1996 is employed…
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Thomas Piketty: Bad Numbers and Bad Economics
13 Apr 2022 Leave a comment
Thomas Piketty is a big proponent of class-warfare tax policy because he views inequality as a horrible outcome.
But a soak-the-rich policy agenda, echoed by many other academics such as Emmanuel Saez and Gabriel Zucman, is fundamentally misguided.
If people really care about helping the poor, they should focus instead on reforms that actually have a proven track record of reducing poverty.
The fact that they fixate on inequality makes me wonder about their motives.
And it also leads me to find their work largely irrelevant. I don’t care if they produce detailed long-run data on changes in inequality.
I prefer detailed long-run data on changes in poverty.
That being said, it appears that some of Piketty’s data is sloppy.
I shared some evidence about his bad numbers back in 2014. And, in a column for the Wall Street Journal, Phil Magness of the…
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Well said
13 Apr 2022 Leave a comment
in economics of information, health economics Tags: consumer fraud, cranks

Like immigrants, aboriginals’ success may be enhanced by the acquisition of skills and traits of the “majority” culture in which they reside
12 Apr 2022 Leave a comment
in economics of education, human capital, labour economics, labour supply, occupational choice
From a review of The Mystery of the Kibbutz: Egalitarian Principles in a Capitalist World Ran Abramitzky
12 Apr 2022 Leave a comment
in applied price theory, comparative institutional analysis, economics of education, human capital, labour economics, labour supply, Marxist economics, personnel economics

From https://www.marketsandmorality.com/index.php/mandm/article/view/1453
“The Mystery of the Kibbutz explores the history of the kibbutz movement and its vision of economic equality, how it thrived despite inherent economic contradictions, and why it eventually declined. He focuses on three challenges in particular: first, the free rider problem, that there is no benefit for working harder when you get the same salary or personal economic benefits; second, adverse selection – that such a social system would tend to attract people who would not be as successful in a capitalist market; or the inverse, a brain drain, that the smartest people or those who could find success outside the kibbutz would tend to leave. Finally, the question of human capital investment: that there would be a tendency to underinvest in human capital, in other words that there would be a lack of incentive for young people to study or work hard because in the end as kibbutz members they can depend on equal income no matter what their contribution is.”
Star Trek: Pilot Episode “The Cage” (1965)
12 Apr 2022 Leave a comment
Original Air Date: February 1965/October 14, 1986
Star Date: 2254 (unknown in-universe date)
Writer: Gene Roddenberry
Director: Robert Butler
“There’s a way out of any cage and I’ll find it.”

Once notoriously rejected by NBC for being too “too cerebral,” this now legendary pilot episode of Star Trek offers a panoply of rich, complex ideas worthy of consideration. Rather than easily hooking its audience with flashy effects or explosive gun fights, “The Cage” is a slow-burn prison mystery which forces us to examine the nature of evil. Are the Talosians truly an evil alien species? According to the Talosians, the answer is emphatically “no.” The Talosians believe they are mere investigators and conjurers of innocent but deceptive imagery in order to offer a better world, test humanity’s limits, and hopefully save the future of Talos IV, their own decaying planet. The Talosians are anthropologists and…
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Star Trek: Season 1, Episode Three “Where No Man Has Gone Before”
12 Apr 2022 Leave a comment
Original Air Date: September 8, 1966
Stardate: 1312.4
Writer: Samuel A. Peeples
Director: James Goldstone
“Morals are for men, not gods.”
After NBC initially rejected Gene Roddenberry’s pilot episode for Star Trek entitled “The Cage” (they claimed it was too cerebral) Star Trek was offered the rarest of opportunities: a second chance. This was thanks in part to the earlier efforts of Lucille Ball and her company Desilu Studios which was impressed by the show’s diverse cast, in particular its elevation of women to more prominent roles. Somewhat ironically the series’s second chance removed “Number Two” (Majel Barrett) from the show. Instead of Captain Pike’s character (played by Jeffrey Hunter as featured in “The Cage”) he was replaced by Captain Kirk (played by William Shatner). Shatner had previously made a name for himself in a variety of Broadway productions as well as on The Twilight…
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Welsh family farms threatened by corporates pursuing ‘carbon offsetting’ schemes
12 Apr 2022 Leave a comment
Sheep farming in Wales [image credit: BBC]
Another example of unintended consequences caused by the irrational pursuit of climate obsessions by governments.
– – –
A fifth of Welsh farms are running at a loss and there is a risk that farmers will be priced out of agriculture by big corporations buying up farmland for carbon offsetting schemes, according to a new report on family farms in Wales.
The findings of an inquiry by the Welsh Affairs Select Committee published today (7 April) paint a concerning picture for Welsh agriculture, an industry where the average farm size is just 48ha, compared to 87ha in England, says TW News.
From pressure on incomes and land availability to a lack of opportunity for new entrants, the report highlights some of the key concerns and sets out a series of recommendations to governments to address the issues.
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