
The Unappreciated Success Of Charter Schools
10 Feb 2015 Leave a comment
in economics of education, Public Choice, rentseeking, unions Tags: charter schools, School choice
Stranger than fiction: The reason why Zinedine Zidane was almost sacked as main coach of real Madrid B
30 Jan 2015 1 Comment
in economics of regulation, occupational regulation, rentseeking, sports economics Tags: Eurosclerosis, occupational regulation, soccer, Spain
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Zinedine Zidane is one of the top 5 soccer players of all time (World Cup 1998, Euro Cup 2000, etc).
He retired and became assistant coach for Real Madrid in 2013 and in August 2014, main coach for Real Madrid B.

A director of the Spanish National Football Coach Education Centre because he does not have a three year higher education degree in Soccer coaching.
Zinedine Zidane was fined and expelled from Spanish league. His lawyer found a loophole due to his French citizenship and saved the day.
Zidane made his professional debut aged 16. Too busy becoming one of the greatest players of all time to spend three years at university. He spent his first weeks at his first club mainly on cleaning duty as a punishment for punching an opponent who mocked his ghetto origins.
HT: Lee Ohanian via John Cochrane
Mendicant NZ artist denounces neoliberalism and tall poppy syndrome in same breath
28 Jan 2015 Leave a comment
in economics of media and culture, politics - New Zealand, rentseeking Tags: corporate welfare, green hypocrisy, Left-wing hypocrisy, neoliberalism, rent seeking, starving artists, tall poppy syndrome, Yes Prime Minister
Man Booker Prize author Eleanor Catton from New Zealand managed in the same interview in India to denounce the neoliberalism of New Zealand’s current government and then denounce the tall poppy syndrome that cuts down artistic elites such as herself down to size when they become successful.
At the moment, New Zealand, like Australia and Canada, (is dominated by) these neo-liberal, profit-obsessed, very shallow, very money-hungry politicians who do not care about culture
This is tremendous a hypocrisy: to denounce a neoliberal philosophy that supposedly favours the elite over the working class and then complain about members of the elite such as herself are not supported sufficiently from the taxpayers’ tough:
We have this strange cultural phenomenon called “tall poppy syndrome”; if you stand out, you will be cut down…
If you get success overseas then very often the local population can suddenly be very hard on you. Or the other problem is that the local population can take ownership of that success in a way that is strangely proprietal.
Catton manages to denounce neoliberalism and the capitalist competition that entails but then gets quite annoyed over the fact the successful people aren’t rewarded and recognised by the country.
What hypocrisy. She denounces neoliberalism and then complains about been cut down because of her success. If you’re an opponent of neoliberalism, there is some obligation on you to argue for a levelling of income and wealth, including your own.
It betrays an attitude towards individual achievement which is very, uncomfortable. It has to belong to everybody or the country really doesn’t want to know about it…
I’ve really struggled with my identity as a New Zealand writer. I feel uncomfortable being an ambassador for my country when my country is not doing as much as it could, especially for the intellectual world.
Catton is particularly upset over the fact that New Zealand is expected to share her fame with them some way. Obviously, Catton believes in private profits, private fame at social losses and public subsidies for the arts. Having to share what she earns is not part of her opposition to neoliberalism.
From each in accordance with their ability, to each in according to their need is the heart of the anti-neoliberal philosophy, or is it Robert Nozick’s capitalistic acts between consenting adults where it is from each as they choose, to each as they are chosen, especially if you’re a successful artist.
Such is the price neoliberalism is Eleanor Catton, like every other able-bodied adult, is expected to earn a living for themselves by producing something that someone wants a profitable global for them rather than expect a hand-out from the government simply because of the desire of the recipients to receive the money. In her case, her claim for government hand-outs is because she happens to be artistic.
Jim Hacker: “So they insult me and then expect me to give them more money?”
Sir Humphrey: “Yes, I must say it’s a rather undignified posture. But it is what artists always do: crawling towards the government on their knees, shaking their fists.”
Jim Hacker: “Beating me over the head with their begging bowls.”
Bernard Woolley: “Oh, I am sorry to be pedantic, Prime Minister, but they can’t beat you over the head if they’re on their knees. Unless of course they’ve got very long arms.”

Richest queue in India (world perhaps) and cronyism at its best..
28 Jan 2015 Leave a comment
in growth disasters, growth miracles, politics - USA, Public Choice, rentseeking Tags: cronyism, India, President Obama, rent seeking
This picture is quite an interesting one. It shows India’s richest businessmen queuing to wait to meet US President Barack Obama patiently. It is ironical in many ways to see the rich and mighty queue like school children waiting for their score card or something. In many ways it is a score card of future where the chosen guys would either get to invest in US or be a partner of US money into India.
It clearly shows the power of politics. Those who keep talking of free markets and so on should see how politics dominates the game. At the end of the day, you have to get closer to the politique to see your empire grow.
But this is also an example of cronyism where business and politics get real close. Deals are signed amidst favorites and it is dubbed as competition. Most of cronyism happens behind the scenes and this is all…
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The relationship between housing prices and the Wharton Land Use Index
24 Jan 2015 Leave a comment
in rentseeking, urban economics Tags: Edward Gleaser, green rent seeking, land supply, land use regulation, zoning

Note: the Wharton Land Use Index measures the restrictiveness of a metropolitan area’s land use regulations.
Hsieh and Moretti on Allocations across Cities
23 Jan 2015 Leave a comment
in applied price theory, applied welfare economics, economics of regulation, geography, law and economics, politics - New Zealand, politics - USA, rentseeking, urban economics Tags: agglomeration, green rent seeking, land supply, zoning
the implied cost of housing restrictions across the whole U.S., and Chang and Enrico find that aggregate output is lower by about 10-14% because of them.
Last post on the NBER growth session. Chang-Tai Hsieh (Chicago) and Enrico Moretti (Berkeley) presented a paper on wage dispersion across cities in the U.S. Wage dispersion (New Yorkers earn more than people in Cleveland) either represents compensation for living costs (housing in New York is more expensive than in Cleveland), a real difference in productivity (New Yorkers are more productive than Clevelanders), or some combination of the two.
What Chang and Enrico find is that the increase in wage dispersion across cities in the U.S. over the last thirty-ish years is due almost entirely to rising house prices in six cities: NY, DC, Boston, San Fran, San Jose, and Seattle. Wages have gone up rapidly in those cities, but that is basically just compensating their citizens for the higher costs of living.
Now, given the costs of living, the allocation of population across cities in the U.S. is…
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George Stigler on income redistribution policies
23 Jan 2015 Leave a comment
in George Stigler, income redistribution, liberalism, Public Choice, rentseeking Tags: evidence-based policy
Robert Lucas on the defining belief of the Left over Left and the Greens
23 Jan 2015 Leave a comment














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