Noah Smith via Marginal Revolution, and Kim Mai Cutler. The CA insurance regulator is elected, and is reluctant to allow higher rates for fire insurance, despite the big risks, lest she be voted out of office. As a consequence, expected profits are low, so a majority of top insurers have stopped issuing fire insurance in CA.…
Price controls destroy wealth: California Fire Insurance
Price controls destroy wealth: California Fire Insurance
11 Jan 2025 Leave a comment
in economics of natural disasters, economics of regulation, environmentalism, financial economics, income redistribution, law and economics, politics - USA, property rights, Public Choice, regulation, rentseeking, urban economics Tags: price controls
The Health Research Council
11 Jan 2025 Leave a comment
in health economics, politics - New Zealand Tags: cranks, political correctness, regressive left
In late August 2024, the Minister of Health, Dr Shane Reti, issued updated guidance to the Health Research Council (“HRC”) after years of scandalous funding was revealed. Dr Reti wanted it to fund cures, not Kaupapa, and definitely not spiritual curses. Especially given $126 million is spent in annual “health” research and the government’s books are not […]
The Health Research Council
Mr. Haltiwanger and the Austrians
11 Jan 2025 1 Comment
in applied price theory, Austrian economics, economic history, entrepreneurship, history of economic thought, Israel Kirzner
In November, I chided Austrian economists for neglecting the John Haltiwanger’s empirical work on creative destruction:Around 2000, I discovered that John Haltiwanger, a very mainstream economist, had a pile of empirical evidence vindicating the importance of Schumpeterian creative destruction. That pile is now a mountain. At the time, I tried to get Austrians to start…
Mr. Haltiwanger and the Austrians
Smart Growth Burns Thousands of Homes
11 Jan 2025 1 Comment
in economics of bureaucracy, economics of natural disasters, economics of regulation, environmental economics, law and economics, property rights, Public Choice, urban economics Tags: land use planning, unintended consequences, zoning
Los Angeles city and regional planners are just as responsible for the Palisades, Eaton, and other fires that have burned in the past few days as if they had poured gasoline on the homes and lit the matches. The destruction of these homes, including, for what it is worth, homes … Continue reading →
Smart Growth Burns Thousands of Homes
Net zero is driving up energy prices, admits Bank of England
10 Jan 2025 1 Comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming Tags: British politics
By Paul Homewood Carbon pricing is pushing up energy prices, admits the Bank of England. The Telegraph report: Net zero policies are sharply driving up energy costs, the Bank of England has admitted, as officials battle to bring living costs back under control. Sarah Breeden, the Bank’s deputy governor, said households and businesses […]
Net zero is driving up energy prices, admits Bank of England
More Thoughts on Blackouts
10 Jan 2025 1 Comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming Tags: British politics, solar power, wind power
By Paul Homewood Just a couple of thoughts about the blackouts we missed by the skin of the teeth yesterday:
More Thoughts on Blackouts
Left-Wing Economists Were Wildly Wrong about Javier Milei and his Libertarian Agenda for Argentina
10 Jan 2025 Leave a comment
in applied price theory, Austrian economics, budget deficits, business cycles, comparative institutional analysis, constitutional political economy, development economics, economic growth, economics of regulation, financial economics, fiscal policy, growth disasters, growth miracles, history of economic thought, income redistribution, international economics, labour economics, law and economics, liberalism, libertarianism, macroeconomics, Marxist economics, monetarism, monetary economics, political change, politics - USA, property rights, Public Choice, public economics, rentseeking, unemployment Tags: Argentina
It’s easy to mock economists. Consider the supposedly prestigious left-leaning academics who asserted in 2021 that Biden’s agenda was not inflationary. At the risk of understatement, they wound up with egg on their faces.* Today, we’re going to look at another example of leftist economists making fools of themselves. It involves Argentina, where President Javier […]
Left-Wing Economists Were Wildly Wrong about Javier Milei and his Libertarian Agenda for Argentina
Anti-ag activists at it again
10 Jan 2025 Leave a comment
in economics of regulation, politics - New Zealand Tags: agricultural economics, animal rights, Animal welfare
The anti-ag activist group Peta is at it again – using selective footage which appears to show animal abuse by shearers. If they were genuinely concerned about animal welfare they would have acted on the abuse immediately and reported incidents to the Ministry for Primary Industries (MPI) and/or the SPCA. Instead they went to the […]
Anti-ag activists at it again
California Tipping Point
10 Jan 2025 Leave a comment
in energy economics, environmental economics, global warming, politics - USA Tags: 2024 presidential election, climate alarmism
Faced with the election of Donald Trump to a second term, soaring inequality, and a decline in support from the state’s non-white majority, California’s Democratic leaders have begun asking hard questions about the state’s vaunted climate policies.
California Tipping Point
Musk vs Farage
10 Jan 2025 Leave a comment
in economics of crime, law and economics, politics - USA Tags: British politics
The BBC reports: Elon Musk has called for Nigel Farage to be replaced as leader of Reform UK, just weeks after reports the multi-billionaire was in talks to donate to the party. In a post on his social media site X, Musk said Farage “doesn’t have what it takes” to lead the party – but […]
Musk vs Farage
How Close Were We To Blackouts Yesterday?
09 Jan 2025 Leave a comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming Tags: British politics, solar power, wind power
By Paul Homewood h/t Ian Magness We came perilously close to rolling blackouts yesterday, something which I have not seen reported in the media –(correct me, I may be wrong!!). The ever alert Kathryn Porter has the full story here. This is her conclusion: The reference to the Viking I/C, by the way, is […]
How Close Were We To Blackouts Yesterday?
Claims about fires?
09 Jan 2025 Leave a comment
in applied price theory, economics of natural disasters, economics of regulation, environmental economics, environmentalism, law and economics, politics - USA, property rights, Public Choice, rentseeking
From Isaiah Taylor: In 2007 the Sierra Club successfully sued the Forest Service to prevent them from creating a Categorical Exclusion (CE) to NEPA for controlled burns (the technical term is “fuel reduction”). The CE would have allowed the forest service to conduct burns without having to perform a full EIS (the median time for […]
Claims about fires?
A peaceful transfer of power
09 Jan 2025 Leave a comment
in politics - USA Tags: 2020 presidential election, 2024 presidential election
This week the US Congress certified that Donald Trump won the Presidential election. He is now officially the President-Elect. It is worth noting what has not happened since election day. This of course is how it should be. A peaceful transfer of power is a vital part of democracy. However if the result had gone […]
A peaceful transfer of power
Why California Wildfires are NOT Climate Driven: A Historical and Meteorological Perspective
09 Jan 2025 1 Comment
in economics of climate change, economics of natural disasters, environmental economics, environmentalism, global warming Tags: climate alarmism
It’s essential to separate the headlines from the science to understand these wildfires in their proper context. The current fires, like many before them, are largely driven by well-documented weather phenomena, historical land-use patterns, and human decisions.
Why California Wildfires are NOT Climate Driven: A Historical and Meteorological Perspective
Austria 2024–2025: Will FPÖ form government or will there be an early election?
09 Jan 2025 Leave a comment
in comparative institutional analysis, constitutional political economy, politics, Public Choice Tags: Austria, constitutional law
The President of Austria, Alexander Van der Bellen, has called upon Freedom Party (FPÖ) leader Herbert Kickl to attempt to form a government. This development comes after the incumbent Chancellor (PM) Karl Nehammer of the Austrian People’s Party (ÖVP) resigned upon failing to assemble a coalition. The ÖVP is the mainstream conservative party, whereas the […]
Austria 2024–2025: Will FPÖ form government or will there be an early election?
Utopia, you are standing in it! 
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