From https://www.brookings.edu/wp-content/uploads/2012/09/Arcidiacono.pdf
Peter Arcidiacono on the dirty secret of affirmative action
04 Mar 2020 Leave a comment
in discrimination, economics of education, politics - USA
Horses and mules held their own for decades against tractors
04 Mar 2020 Leave a comment
in economic history, industrial organisation, survivor principle
False Dawn: On The Hollow Promise Of An All Wind & Solar Powered Future
04 Mar 2020 Leave a comment
Back in 1983 the American Wind Industry Association claimed that solar and wind would be “competitive and self-supporting on a national level by the end of the decade if assisted by tax credits and augmented by federally sponsored R&D”. That was 36 years ago.
There has been no lack of assistance in the form of tax credits and federally sponsored R&D, along with a whole bunch of other punitive mandates and targets designed to cripple conventional generators and favour chaotically intermittent wind and solar. And yet, the contribution to world energy demand from wind and solar remains trivial, at best.
Notwithstanding $trillions in subsidies, no country has ever powered itself entirely with wind and solar; no country ever will. Ronald Stein explains why.
U.S. Government continues to dump funds into an electrical sinkhole
Fox & Hounds
Ronald Stein
27 January 2020
When I read the WSJ article “The Best-Laid Energy Plans”
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The wages of sin since 1926 has been 2.5% per year @jamespeshaw @NZGreens @Greens @greenpeaceusa @mfe_news
04 Mar 2020 Leave a comment
in defence economics, economics of regulation, financial economics, health economics, politics - New Zealand
From https://www.forbes.com/2009/10/21/sin-stocks-outperform-personal-finance-sin-stocks.html#3b5f89954cfd and http://pages.stern.nyu.edu/~sternfin/mkacperc/public_html/sin.pdf
Why do @AOC @BernieSanders @SenWarren lie about the rich are getting richer and the poor are getting poorer?
04 Mar 2020 Leave a comment
in applied welfare economics, economic history, income redistribution, labour economics, politics - USA, poverty and inequality, Public Choice Tags: 2020 presidential election, child poverty, family poverty, social insurance
Sound #globalwarming #climateemergency advice to @BernieSanders @SenWarren @Greens @NZGreens @jamespeshaw @mfe_news @AOC @greenpeaceusa
04 Mar 2020 Leave a comment
in development economics, economics of natural disasters, energy economics, environmental economics, global warming, politics - Australia, politics - New Zealand, politics - USA Tags: China, climate alarmists, expressive voting, India, nuclear energy, pessimism bias, rational irrationality, The fatal conceit, virtue signaling
Monopsony and @Fightfor15
04 Mar 2020 Leave a comment
in applied price theory, labour economics, labour supply, minimum wage, politics - USA Tags: 2020 presidential election, inequality of bargaining power, monopsony, offsetting behaviour, The fatal conceit, unintended consequences
Antidiscrimination conundrum for the Left
04 Mar 2020 Leave a comment
in discrimination, labour economics, labour supply, law and economics, occupational choice, politics - Australia, politics - New Zealand, politics - USA, property rights, Public Choice Tags: antidiscrimination laws, Freedom of religion, political correctness, regressive left, The fatal conceit, unexpected consequences
#climateemergency #globalwarming @GreenpeaceAP @Greens scare campaigns failed
04 Mar 2020 Leave a comment
in economics of natural disasters, energy economics, environmental economics, global warming, politics - Australia Tags: climate alarmists, pessimism bias
Thomas Humphrey recall Ricardo and Thornton on monetary policy and supply shocks
04 Mar 2020 Leave a comment
in business cycles, economic growth, fiscal policy, history of economic thought, labour economics, labour supply, macroeconomics, monetary economics, Thomas M. Humphrey Tags: monetary policy, real business cycle theory
Gary Becker on affirmative action
04 Mar 2020 Leave a comment
in applied price theory, discrimination, economics of education, Gary Becker, labour economics
Jason Riley On “False Black Power?”
04 Mar 2020 Leave a comment
in discrimination, economic history, economics of education, human capital, labour economics, labour supply, occupational choice, politics - USA, poverty and inequality, unemployment, welfare reform Tags: affirmative action, racial discrimination, regressive left
Stossel: End Racial Preferences at Colleges?
04 Mar 2020 Leave a comment
in economics of education, income redistribution, politics - USA, Public Choice, rentseeking Tags: affirmative action, political correctness, racial discrimination, regressive left
The envelope (theorem) please: Profits, efficiency wages, and monopsony
04 Mar 2020 Leave a comment
In a very helpful blog post, Paul Krugman tries to make sense of Wal-Mart’s recent statement that it is already reaping some gains from raising wages via reduced turnover costs. Krugman’s main point is as follows. If worker productivity is a function of the wage (through improved morale, lower turnover, etc.), and Wal-Mart was initially maximizing profits, then a small change in wages will leave profits largely unchanged.
As Krugman points out, this is logic of the “envelope theorem.” What I want to clarify in this post is that the logic behind this argument is more general than the particular efficiency wage model Krugman works through. Any time firms are choosing wages to balance various concerns—as opposed to simply accepting a “market wage” as a constraint—the logic of the envelope theorem applies. What’s more, two types of empirically relevant models of the labor market—monopsonistic competition and efficiency wages—look pretty similar in this regard, and can be thought of as…
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