Minimum wages kill opportunity
25 Oct 2021 Leave a comment
in applied price theory, income redistribution, industrial organisation, labour economics, minimum wage, personnel economics, Public Choice, rentseeking, survivor principle, unemployment
Have You Seen The Guardian’s Climate Disaster? It Appears To Have Gone Missing!
25 Oct 2021 Leave a comment
Biden’s Befuddlement on Corporate Taxation
25 Oct 2021 Leave a comment
Let’s look today at the wonky issue of “book income” because it’s an opportunity to point out that there are three types of leftists.
- Honest leftists who understand economics and recognize tradeoffs (I think of them as “Okunites“).
- Dishonest leftists who understand economics but pretend that tradeoffs don’t exist (the “demagogues“).
- Leftists who have no idea what they’re saying or thinking (I think of them as, well, Joe Biden).
I’m being snarky about the President because of this recent tweet, which contains a couple of big, glaring mistakes.
What are the mistakes (I’m not calling them lies because I don’t think Biden has the slightest idea that he is wrong, much less why he’s wrong).
- The first mistake is that corporations pay a lot of tax (payroll tax, property tax, etc) even if they are losing money and don’t owe any corporate income…
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David Friedman on national security without a state
25 Oct 2021 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, David Friedman, defence economics, economics of crime, law and economics, property rights
The Fog Of War
25 Oct 2021 Leave a comment
in defence economics, economics of bureaucracy, laws of war, movies, Public Choice, war and peace Tags: atomic bombings, Vietnam war, World War II
“The economic impact of climate and weather” by Richard Tol
25 Oct 2021 Leave a comment
in comparative institutional analysis, development economics, econometerics, economic history, energy economics, environmental economics, global warming, growth disasters, growth miracles Tags: economics of agriculture
Several German cities halt use of e-buses following series of unresolved cases of fire
25 Oct 2021 Leave a comment
Socialism explained
24 Oct 2021 Leave a comment
in labour economics, labour supply, Marxist economics, occupational choice, Rawls and Nozick Tags: economics of socialism, regressive left
Great ‘Green’ Job Hoax: Only China Profits From Making Wind Turbines & Solar Panels
24 Oct 2021 Leave a comment
The promise of thousands of jobs building wind turbines and solar panels is a renewable energy mantra; there are – but only in China.
China itself is building nuclear power plants and hundreds more coal-fired power plants, as if its economic livelihood depends on it.
Meanwhile, in those Western countries foolish enough to attempt to run on sunshine and breezes, those few jobs that did materialise are fast disappearing.
The article by David Rose below should be essential reading for Australians, where the corporate crony capitalist class is pushing a net-zero carbon dioxide gas emissions target, based on the ludicrous claim that hundreds of thousands of new jobs will be generated.
Net-zero carbon dioxide gas emissions targets are all about increasing and extending subsidies to costly and unreliable wind and solar, with further subsidies to pipe dream projects such as ‘green’ hydrogen and mythical mega-batteries. Rent-seekers already in on…
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#GMOs
24 Oct 2021 Leave a comment
in environmental economics Tags: anti-GMOs movement, Anti-Science left
Cosmetic Surgery and the Economics of Healthcare
24 Oct 2021 Leave a comment
The healthcare sector is a tragic example of Mitchell’s Law in action, with politicians expanding the role of government in response to problems (rising prices and inefficiency) caused by previous expansions of government.
The solution is free markets, and Hannah Cox points the way in this short video.
Ms. Cox is definitely correct to use cosmetic surgery as an example of how free markets work.
I’ve previously cited great research from Mark Perry 
showing how prices for various procedures have risen by less than the overall consumer price index.
And far less than prices for the parts of the health care system where government plays a big role (in the table, see the section outlined in red).
The bottom line is that we get lower costs and greater efficiency when buyers and sellers directly interact without lots of interference from government.
Ms. Cox also wrote about this…
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Utopia, you are standing in it! 
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