In a recent paper, Christopher L. Foote, Kristopher S. Gerardi, and Paul S. Willen report (pdf): This paper presents 12 facts about the mortgage market. The authors argue that the facts refute the popular story that the crisis resulted from financial industry insiders deceiving uninformed mortgage borrowers and investors. Instead, they argue that borrowers and […]
Why the housing market imploded
Why the housing market imploded
29 Apr 2025 Leave a comment
in applied price theory, behavioural economics, economic history, economics of information, financial economics, global financial crisis (GFC), great recession, macroeconomics, monetary economics
Our Mayor dons a keffiyeh
29 Apr 2025 1 Comment
in defence economics, economics of crime, law and economics, politics - USA Tags: Gaza, Israel, Middle-East politics, political correctness, regressive left, war against terror
Ever since the City of Chicago dropped the charges against 26 pro-Palestinian students and two faculty arrested on our campus for trespassing, I’ve wondered whether mayor Brandon Johnson, elected in 2023, has some sympathies for Palestine contrasted with some opprobrium for Israel. (The city also refused to send Chicago cops to take down our encampment, […]
Our Mayor dons a keffiyeh
The Execution of Benito Mussolini and Clara Petacci
29 Apr 2025 Leave a comment
in defence economics, war and peace Tags: Italy, World War II
The final chapter of Benito Mussolini’s life, marked by betrayal, capture, and execution, symbolizes the brutal end of Fascism in Italy. Alongside him was his mistress, Clara Petacci, whose loyalty led her to a tragic end. Their deaths on April 28, 1945, not only concluded Mussolini’s two-decade rule but also sent a powerful message about […]
The Execution of Benito Mussolini and Clara Petacci
“This is Not Normal”: Democrats Miss an Obvious Problem with the Arrest of the Wisconsin Judge
28 Apr 2025 Leave a comment
in economics of crime, law and economics, politics - USA Tags: 2024 presidential election, economics of immigration
“This is not normal.” Those words from Sen. Amy Klobuchar, D-Minn., are undeniably true after the arrest of Wisconsin Judge Hannah Dugan. However, the reason it is not normal is far more debatable. Dugan is accused of becoming a lawbreaker in seeking to obstruct an effort to arrest a man wanted by federal authorities. If […]
“This is Not Normal”: Democrats Miss an Obvious Problem with the Arrest of the Wisconsin Judge
Can Trump’s Tariff Offensive Deliver New American Jobs?
28 Apr 2025 Leave a comment
in applied price theory, entrepreneurship, industrial organisation, international economics, politics - USA Tags: 2024 presidential election, free trade, tariffs
By Lauren Weber of The WSJ. Excerpts:”Most economists and other experts are skeptical that job creation will happen on a large scale because planning and building new factories is an incredibly complex and lengthy process. Businesses will be reluctant to do that unless they’re sure the investment is worth it over the long term. A fairly…
Can Trump’s Tariff Offensive Deliver New American Jobs?
Raskin: Trump Officials Can Be Arrested for “Kidnapping” Undocumented Persons
28 Apr 2025 Leave a comment
in defence economics, economics of crime, labour economics, labour supply, law and economics, politics - USA Tags: 2024 presidential election, economics of immigration
For some on the far left, “The Rachel Maddow Show” is a godsend. Otherwise, you would have to go to the subway to compete against others raving about microchips and oligarchies. Just take Rep. Jamie Raskin (D-MD), who went on the show on Friday to explain that Trump officials can now be arrested for “interfering with […]
Raskin: Trump Officials Can Be Arrested for “Kidnapping” Undocumented Persons
‘Rule of Two’ medicines approval needs improving
28 Apr 2025 Leave a comment
in applied price theory, economics of bureaucracy, economics of regulation, health economics, politics - New Zealand, Public Choice Tags: drug lags
Eric Crampton writes – Come the next pandemic, we are going to be in the same stupid mess that we were in during the last one. Trusted pharmaceutical regulators overseas, like those in Australia, Canada, Europe, and the UK, will have given provisional approvals for vaccines that are safe. And Kiwis will have to wait, […]
‘Rule of Two’ medicines approval needs improving
The First Tank-on-Tank Battle in History – The Zeebrugge Raid I THE GREA…
27 Apr 2025 Leave a comment
in defence economics, war and peace Tags: World War I
Weak Essay? Student Rejected by Top Universities Despite Near Perfect Scores and $30 Million App
27 Apr 2025 Leave a comment
in discrimination, economics of education, human capital, labour economics, labour supply, politics - USA Tags: affirmative action, free speech, political correctness, racial discrimination, regressive left
After the Supreme Court declared an end to the use of race criteria in college admissions, many administrators pledged to find a way around the decision. Schools are using essay prompts to flag race while rejecting the use of standardized testing to boost diversity in admissions. In the meantime, these schools are rejecting students with […]
Weak Essay? Student Rejected by Top Universities Despite Near Perfect Scores and $30 Million App
Smoking
27 Apr 2025 Leave a comment
in economic history, health economics Tags: economics of smoking
How a Secretive Gambler Called ‘The Joker’ Took Down the Texas Lottery
26 Apr 2025 Leave a comment
in applied price theory, economics of information, economics of media and culture
A global team of gambling whizzes hatched a scheme to snag the jackpot; millions of tickets in 72 hoursBy Joe Wallace and Katherine Sayre of The WSJ. Excerpts:”There were 25.8 million potential number combinations. The tickets were $1 apiece. The jackpot was heading to $95 million. If nobody else also picked the winning numbers, the…
How a Secretive Gambler Called ‘The Joker’ Took Down the Texas Lottery
The challenge for Parliament: striking a balance between historic traditions and tikanga
26 Apr 2025 Leave a comment
in law and economics, politics - New Zealand
Peter Dunne writes – A tense and intriguing political chess game is being played out in Parliament’s Privileges Committee at present. It is a game none of those involved can afford to lose, yet inevitably someone will. On the face of it, the issue at hand is whether the spontaneous haka performed by three Te […]
The challenge for Parliament: striking a balance between historic traditions and tikanga
The Persecution of Jehovah’s Witnesses in Nazi Germany
26 Apr 2025 Leave a comment
in defence economics, economics of religion, war and peace Tags: Nazi Germany, World War II
The Nazi regime, targeted numerous groups during its reign from 1933 to 1945. Among those persecuted were Jehovah’s Witnesses, a Christian denomination whose beliefs and practices placed them in direct opposition to Nazi ideology. Unlike many other victims of the regime, Jehovah’s Witnesses were not targeted based on race or ethnicity, but because of their […]
The Persecution of Jehovah’s Witnesses in Nazi Germany
Socialism Is an Economic Cancer
26 Apr 2025 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, growth disasters, Marxist economics Tags: economics of central planning
Building on my four-part series (here, here, here, and here) explaining the case against socialism and my five-part series (here, here, here, here, and here) on socialism in the modern world, today’s column will look at the economic argument against that statist ideology. Practically speaking, this seems unnecessary. After all, we can simply look at […]
Socialism Is an Economic Cancer
Utopia, you are standing in it! 
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