Larry White | UCLA Price Theory and Macroeconomics | Economic Forces Podcast Episode 1
05 Feb 2022 Leave a comment
in applied price theory, history of economic thought, macroeconomics, monetary economics
Milton Friedman Interview with Dallas Fed President Richard W. Fisher
05 Feb 2022 Leave a comment
in business cycles, development economics, economic growth, economic history, growth disasters, growth miracles, history of economic thought, law and economics, liberalism, macroeconomics, Marxist economics, property rights
Gas! – A New Horror On The Battlefield I THE GREAT WAR Week 28
05 Feb 2022 Leave a comment
in defence economics, laws of war, war and peace Tags: World War I
Development of British Tank Tactics 1917 I THE GREAT WAR Special
05 Feb 2022 Leave a comment
in defence economics, war and peace Tags: World War I
The political foundations of Northern Ireland are at risk of crumbling
04 Feb 2022 Leave a comment
Not for the first time in recent memory, Northern Irish politics is in flux, the UK government’s Brexit deal is causing ructions and the power-sharing institutions are on the brink of collapse. Alan Whysall assesses the current crisis and argues that the foundations of the Belfast/Good Friday Agreement are at serious risk of crumbling.
Northern Ireland appears headed for further political turbulence, and it is not clear that devolved government will survive. Two steps within 24 hours by the Democratic Unionist Party (DUP), currently the largest party in the Assembly, have triggered this.
On Wednesday night, the DUP Agriculture Minister, Edwin Poots, announced that his staff would no longer carry out checks required at Northern Ireland ports under the Northern Ireland Protocol.
On Thursday afternoon, the DUP First Minister (FM) of Northern Ireland, Paul Givan, announced that he would resign his office on Friday morning over the Protocol, although…
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Vernon Smith on Behavioral in 2008
04 Feb 2022 Leave a comment
Like last week, this post is adjacent to the internet chattering over whether behavioral economics is “dead”.
Vernon Smith wrote a book Rationality in Economics that came out in 2008. I’m going to pull some quotes from that book that I think are relevant. This is not an attempt to summarize the main point of the book.
I began developing and applying experimental economics methods to the study of behavior and market performance in the 1950s and 1960s…
Preface, pg xiii
Repetitive or real-time action in incomplete information environments is an operating skill different from modeling based on the “given” information postulated to drive the economic environment that one seeks to understand in the sense of equilibrium, optimality, and welfare. This decision skill is based on a deep human capacity to acquire tacit knowledge that defies all but fragmentary articulation in natural or written language.
Preface, pg xv
I think…
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Not Green: Offshore Wind ‘Industry’ Destroying Fishing Grounds, Birds & Marine Life
04 Feb 2022 Leave a comment
Taking wind turbines out to sea not only escalates the cost of the occasional power they produce, it destroys coastal landscapes, birds and other marine life.
Millions of birds of battered out of existence by these things every year. And offshore turbines are driving puffins and other threatened species to the brink of extinction.
Wind turbine noise has been proven to disrupt whales’ sonar guidance and communication systems, creating another threat to the already threatened Atlantic Right Whale.
The damage done by offshore wind farms to fishing grounds is met with practiced contempt by wind power outfits and malign indifference by their political enablers.
And, as Viv Forbes puts it, offshore wind power facilities threaten the lives and lifestyles of coastal communities, everywhere.
Whirling ‘Triffids’ are now cluttering our coastlines
Spectator Australia
Viv Forbes
29 December 2021
‘I saw them now with a disgust that they had…
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Teaching Price Controls (Poorly)
04 Feb 2022 Leave a comment
Economics textbooks differ in their treatment of price controls. None of them does a great job, in my opinion. The reason is mostly due to the purpose of textbooks. Despite what you might suspect, most undergraduate textbooks are not used primarily to give students an understanding of the world. They are often used as a bound list of things to know and to create easy test questions. If a textbook has to change the assumptions of a model too much from what the balance of the chapter assumes, then the book fails to make clear what students are supposed to know for the test.
I think that this is the most charitable reason for books’ poor treatment of price controls – even graduate level books. The less charitable reasons include sloppy exposition due to author ignorance or an over-reliance on math. I honestly would have trouble believing these less charitable…
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Josh Wright | UCLA Law and Economics, Relational Contracts, and Antitrust
04 Feb 2022 Leave a comment
in applied price theory, applied welfare economics, Armen Alchian, comparative institutional analysis, economics of regulation, F.A. Hayek, history of economic thought, industrial organisation, law and economics, Ronald Coase, theory of the firm Tags: competition law
Why Finland “joined” the Axis
04 Feb 2022 Leave a comment
in defence economics, war and peace Tags: World War II
Climate prophesies
03 Feb 2022 Leave a comment
in economic history, environmental economics, global warming Tags: climate alarmists
Utopia, you are standing in it! 
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