George Stigler 50 Years Later: Part 2 – Advancing The Theory of Economic Regulation
05 Aug 2021 Leave a comment
in applied welfare economics, behavioural economics, comparative institutional analysis, economics of bureaucracy, economics of information, economics of regulation, history of economic thought, income redistribution, law and economics, Public Choice, rentseeking, Sam Peltzman
August 4, 1900: Birth of Queen Elizabeth The Queen Mother
05 Aug 2021 Leave a comment
Elizabeth Angela Marguerite Bowes-Lyon (August 4, 1900 – March 30, 2002) was Queen of the United Kingdom 1936 to 1952 as the wife of King George VI. She was the last Empress of India from 1936 until India gained independence from Britain in 1947. After her husband died, she was known as Queen Elizabeth The Queen Mother, to avoid confusion with her daughter, Queen Elizabeth II.
Born into a family of British nobility, Elizabeth was the youngest daughter and the ninth of ten children of Claude Bowes-Lyon, Lord Glamis (later the 14th Earl of Strathmore and Kinghorne in the Peerage of Scotland), and his wife, Cecilia Cavendish-Bentinck. Her mother was descended from British Prime Minister William Cavendish-Bentinck, 3rd Duke of Portland, and Governor-General of India Richard Wellesley, 1st Marquess Wellesley, who was the elder brother of another prime minister, Arthur Wellesley, 1st Duke of Wellington.
Elizabeth spent much of her…
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Oil – Hitler’s Only Chance to Win the War? – WW2 Special
05 Aug 2021 Leave a comment
in defence economics, war and peace Tags: World War II
Prohibition and The Fall of the Russian Empire
05 Aug 2021 Leave a comment
in defence economics, economic history, economics of regulation, war and peace Tags: meddlesome preferences, nanny state, prohibition, Russia
Wind Turbines & Solar Panels Deliver Tiny Fraction of Their Total Capacity
04 Aug 2021 Leave a comment
There’s a yawning gulf between what wind turbines and solar panels are capable of delivering and what’s actually delivered. Sunset and calm weather will do it every time.
Terms like “capacity factor” and the “Levelized Cost Of Energy” are bandied about with great scientific certitude by renewable energy rent-seekers.
As to the first, wind and solar advocates always overstate the output of wind turbines and solar panels; and then, only in terms of pointless averages. As to the second, these characters are bound to lie about the true LCOE of wind and solar, as well. The subterfuge is as much about omission as embellishment.
Willis Eschenbach explains the nature of the game below.
The Real Cost of Wind and Solar
Watts Up With That?
Willis Eschenbach
25 June 2021
I keep reading how wind and solar are finally cheaper than fossil fuels … and every time I’ve read it, my…
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Net Zero heat pump plans are dead and buried
04 Aug 2021 Leave a comment
Hydrogen future? [image credit: cleantechnica.com] The UK’s next problem is that there’s no domestic hydrogen supply, and it will be costly to create one, then (in theory) produce vast amounts of hydrogen from renewables and/or nuclear power. Unless hydrogen for homes is going to be cheaper than electricity then electric boilers, with none of hydrogen’s safety issues and available now, could be a viable competitor in the home heating market if/when gas is shut down.
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It would appear that Boris Johnson’s Net Zero promise to install 600,000 heat pumps per year by 2028 won’t happen after all now that Britain’s big boiler firms have promised households that they will be able to buy cheap hydrogen boilers instead says The GWPF.
The only question is how much the hydrogen that is supposed to heat our homes will cost consumers.
We’ll have to wait for the government’s…
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The gender pay gap: An interview with with Daniel S. Hamermesh
04 Aug 2021 Leave a comment
in applied price theory, applied welfare economics, gender, health and safety, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: gender wage gap
Atlantic Meeting, by H.V. Morton
04 Aug 2021 Leave a comment
80 years ago on this day, August 4th 1941, Britain’s Prime Minister Winston Churchill set sail across the Atlantic to make history.
Upon Sunday, August 3rd, 1941, Mr Winston Churchill and the Chiefs of Staff travelled by train to the North, where on the following day, and in conditions of the greatest secrecy, they embarked in a battleship. Five days later, upon Saturday, August 9th, the battleship dropped anchor in a lonely bay off the shores of Newfoundland. American warships were waiting there with President Roosevelt, who had come so secretly to the rendezvous that the entire Press of America was speculating on his disappearance. In that desolate bay, which reminded everyone of the Hebrides, with low hills rising mistily in the air, the warships lay at anchor while the two statesmen conducted their conference, the published outcome of which was the Atlantic Charter. (p.9)
So begins H V Morton’s…
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August 1, 1714: The Elector of Hanover becomes King George I of Great Britain and Ireland. Conclusion.
04 Aug 2021 Leave a comment
Elector Ernst-August died on January 23, 1698, leaving all of his territories to George with the exception of the Prince-Bishopric of Osnabrück, an office he had held since 1661. George thus became Duke of Brunswick-Lüneburg as well as Archbannerbearer and a Prince-Elector of Hanover within the Holy Roman Empire. His court in Hanover was graced by many cultural icons such as the mathematician and philosopher Gottfried Leibniz and the composers George Frideric Händel and Agostino Steffani.
Shortly after George’s accession to his paternal duchy, Prince William, Duke of Gloucester, son of Queen Anne, who was second-in-line to the English and Scottish thrones, died. By the terms of the English Act of Settlement 1701, George’s mother, Sophia, was designated as the heir to the English throne if the then reigning monarch, William III, and his sister-in-law, Anne, died without surviving issue.
The succession was so designed because Sophia was the closest…
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George Stigler 50 Years Later: Part 1 – George Stigler’s Contribution and Lasting Impact
04 Aug 2021 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, economics of bureaucracy, economics of information, economics of regulation, George Stigler, income redistribution, Public Choice, rentseeking, Sam Peltzman
William I, The Conqueror, as King of the English. Part II.
04 Aug 2021 Leave a comment
Administration
After 1066, William did not attempt to integrate his separate domains into one unified realm or Kingdom with one set of laws. His seal from after 1066, of which six impressions still survive, was made for him after he conquered England and stressed his role as king, while separately mentioning his role as Duke. When in Normandy, William acknowledged that he owed fealty to the King of the Franks, but in England no such acknowledgment was made – further evidence that the various parts of William’s lands were considered separate.
The administrative machinery of Normandy, England, and Maine continued to exist separate from the other lands, with each one retaining its own forms. For example, England continued the use of writs, which were not known on the continent. Also, the charters and documents produced for the government in Normandy differed in formulas from those produced in England.
In common…
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Upon Sunday, August 3rd, 1941, Mr Winston Churchill and the Chiefs of Staff travelled by train to the North, where on the following day, and in conditions of the greatest secrecy, they embarked in a battleship. Five days later, upon Saturday, August 9th, the battleship dropped anchor in a lonely bay off the shores of Newfoundland. American warships were waiting there with President Roosevelt, who had come so secretly to the rendezvous that the entire Press of America was speculating on his disappearance. In that desolate bay, which reminded everyone of the Hebrides, with low hills rising mistily in the air, the warships lay at anchor while the two statesmen conducted their conference, the published outcome of which was the Atlantic Charter. (p.9)
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