Jonathan Haidt wrote the book The Righteous Mind: Why Good People Are Divided by Politics and Religion. It is about how polarized and nasty our politics have become, how everyone loves to demonize and ridicule anyone from a different political party. But these are things that Adam Smith talked about in his book The Theory…
Adam Smith Meets Jonathan Haidt (on political polarization and the animosity of hostile factions)
Adam Smith Meets Jonathan Haidt (on political polarization and the animosity of hostile factions)
22 Aug 2024 1 Comment
in Adam Smith, economics of education, liberalism, Marxist economics, politics - USA Tags: free speech, political correctness, regressive left. Age of Enlightenment
Google’s strategy of search engine user lock-in
22 Aug 2024 Leave a comment
in economics of media and culture, economics of regulation, industrial organisation, politics - USA Tags: competition law
The Financial Times reported earlier this month (paywalled):A US federal judge has ruled that Google spent billions of dollars on exclusive deals to maintain an illegal monopoly on search, in a landmark win for the Department of Justice as it seeks to rein in Big Tech’s market power…The ruling follows a weeks-long trial in which…
Google’s strategy of search engine user lock-in
Why Top CEOs Earn Big Paychecks
22 Aug 2024 Leave a comment
in applied price theory, economic history, economics of education, entrepreneurship, human capital, industrial organisation, labour economics, labour supply, liberalism, managerial economics, market efficiency, occupational choice, organisational economics, personnel economics, politics - USA, poverty and inequality, survivor principle Tags: CEO pay, superstar wages
CEO compensation at large firms is high, especially in comparison to average worker wages, sparking debates over income inequality. Critics argue that such pay packages are unfair and disproportionate to actual company performance. Proponents contend that high pay reflects productivity and is necessary to attract scarce top talent to large firms. Let’s go to the […]
Why Top CEOs Earn Big Paychecks
“Keyboard Warrior”: British Crackdown Results in Three-Year Sentence Over Anti-Migrant Postings
21 Aug 2024 Leave a comment
in economics of crime, law and economics, liberalism, Marxist economics, politics - USA Tags: British politics, free speech, political correctness, regressive left
Three years ago, we discussed the conviction of a British man for “toxic ideologies,” under the draconian laws criminalizing inciteful or dangerous speech. The erosion of free speech appears to have only accelerated in the UK. As is often the case, the attacks on free speech increase during periods of unrest, anger or fear. With […]
“Keyboard Warrior”: British Crackdown Results in Three-Year Sentence Over Anti-Migrant Postings
When The Democrats Loved Trump
20 Aug 2024 Leave a comment
in economic history, politics - USA, television, TV shows Tags: 2016 US presidential election, 2024 presidential election, regressive left
Joe Rogan has just dropped some amazing video of Donald Trump in 2011. Watch. That was in 2011. The crowd gives him a standing ovation. Barbara Walters, who used to host The View, greets Trump as “My friend”, and he engages in hugs and kisses with… Joy Behar and Whoopie Goldberg! He even says the […]
When The Democrats Loved Trump
Election Rule #1: Don’t Support Your Opponent
19 Aug 2024 Leave a comment
in economic history, industrial organisation, macroeconomics, monetary economics, politics - USA Tags: 2024 presidential election, inflation, monetary policy
Who is advising this woman? In what universe do they think she can say this and at the same time fool enough voters that she hasn’t been part of the Biden Administration that has had these price hikes happen on their watch, on her watch. Did they not think that Trump’s campaign would run with […]
Election Rule #1: Don’t Support Your Opponent
Economic Sanctions on Russia: Ineffective or Insufficient?
19 Aug 2024 Leave a comment
in applied price theory, defence economics, international economic law, international economics, International law, politics - USA, war and peace Tags: Russia, sanctions, Ukraine
Russia had of course already invaded Ukraine back in 2014, but in February 2022 it dramatically escalated the earlier invasion. The U.S. and Ukraine’s allies met Russia’s invasion two years ago with an unprecedented set of sanctions. They put a price cap on Russian oil exports, froze $300 billion worth of Russian foreign exchange reserves,…
Economic Sanctions on Russia: Ineffective or Insufficient?
Biden-Subsidized Offshore Wind Developer Reports Massive Losses In Latest Blow To Industry
19 Aug 2024 Leave a comment
in energy economics, environmental economics, global warming, politics - USA Tags: wind power
The U.S. offshore wind industry has had a wave of project delays, missed production targets and public backlash in the past year.
Biden-Subsidized Offshore Wind Developer Reports Massive Losses In Latest Blow To Industry
Kamala Harris, Price Controls, and the Contest for the Dumbest Policy Proposal of 2024
17 Aug 2024 Leave a comment
in applied price theory, comparative institutional analysis, economic history, economics of bureaucracy, economics of regulation, energy economics, health economics, history of economic thought, income redistribution, industrial organisation, international economics, liberalism, Marxist economics, politics - USA, Public Choice, rentseeking Tags: 2024 presidential election, price controls, tariffs
As a Senator, Kamala Harris embraced all sorts of terrible ideas, such as the Green New Deal and Medicare for All. But she’s now disavowed those proposals in an attempt to make herself seem more reasonable. Trump, by contrast, is consistent. For better or worse, he’s pushing in 2024 the same agenda that he ran […]
Kamala Harris, Price Controls, and the Contest for the Dumbest Policy Proposal of 2024
Math Confirms Foolishness of Climate Alarmism
17 Aug 2024 Leave a comment
in energy economics, environmental economics, global warming, politics - USA Tags: climate alarmism
Whatever the motivations, spending trillions of dollars to replace fossil fuels with expensive and unreliable wind and solar sources is foolish, futile and dangerous.
Math Confirms Foolishness of Climate Alarmism
Rampell On Harris’s Economic Policy
17 Aug 2024 1 Comment
in applied price theory, economics of regulation, history of economic thought, industrial organisation, politics - USA Tags: 2024 presidential election
Here is the Washington Post’s Catherine Rampell on Harris’s price control policy: It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food. Supply and demand would no longer determine prices or profit levels. Some far-off Washington bureaucrats […]
Rampell On Harris’s Economic Policy
Friedman vs Stiglitz, Chile vs Venezuela
16 Aug 2024 Leave a comment
in development economics, economic growth, economic history, economics of regulation, entrepreneurship, growth disasters, growth miracles, history of economic thought, income redistribution, labour economics, law and economics, liberalism, macroeconomics, Marxist economics, Milton Friedman, politics - USA, poverty and inequality, property rights, Public Choice, public economics, rentseeking Tags: Chile, free speech, political correctness, regressive left, The Great Enrichment, Venezuela
I’ve repeatedly praised Chile’s pro-market reforms (see here, here, and here) and I’ve repeatedly condemned Venezuela’s shift to socialism (see here, here, and here). But if you don’t have time to read all those columns, this chart from the Maddison database tells you everything you need to know. Simply stated, Chile’s reforms have delivered huge […]
Friedman vs Stiglitz, Chile vs Venezuela
“An America Issue”: Washington Post Reporter Calls on White House to Censor Trump for America
14 Aug 2024 Leave a comment
in law and economics, liberalism, Marxist economics, politics - USA, Public Choice Tags: 2024 presidential election, free speech, political correctness, regressive left
In my new book on free speech, I discuss at length how the mainstream media has joined an alliance with the government and corporations in favor of censorship and blacklisting. The Washington Post, however, appears to taking its anti-free speech campaign to a new level with open calls for a crackdown. The newspaper offered no objection […]
“An America Issue”: Washington Post Reporter Calls on White House to Censor Trump for America
Finally, exchange rate models seem to work pretty well
14 Aug 2024 Leave a comment
in budget deficits, business cycles, econometerics, economic history, financial economics, history of economic thought, inflation targeting, macroeconomics, monetary economics, politics - USA Tags: exchange rates, monetary policy
Exchange-rate models fit very well for the U.S. dollar in the 21st century. A “standard” model that includes real interest rates and a measure of expected inflation for the U.S. and the foreign country, the U.S. comprehensive trade balance, and measures of global risk and liquidity demand is well-supported in the data for the U.S. […]
Finally, exchange rate models seem to work pretty well
“We are Monitoring”: EU Censor Threatens Musk Ahead of the Trump Interview
14 Aug 2024 Leave a comment
in law and economics, politics - USA Tags: 2024 presidential election, free speech, media bias, political correctness, regressive left
In my new book on free speech and various columns, I write about the European Digital Services Act (DSA) as one of the greatest assaults on free speech in history. One of the most notorious anti-free speech figures in the world is European Commissioner for Internal Markets and Services Thierry Breton. Where some censors express […]
“We are Monitoring”: EU Censor Threatens Musk Ahead of the Trump Interview
Utopia, you are standing in it! 
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