From https://conversableeconomist.blogspot.com/2019/08/alfred-marshall-in-1885-present.html
Alfred Marshall (1885) on the socialists of his time
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in Alfred Marshall, history of economic thought, Marxist economics
Thomas Sowell summarises his Conflict of Visions book
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in comparative institutional analysis, Thomas Sowell
Diseases are often named after their place of origin
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in health economics Tags: anti-vaccination movement, vaccines
Marshall’s Laws and The Grapes of Wrath – Chicago Price Theory
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in Alfred Marshall, applied price theory, health and safety, history of economic thought, labour economics, labour supply, occupational choice Tags: compensating differences
Blasphemy at the Old Bailey (BBC TV, 1977). A brilliant reenactment of the Gay News trial
16 May 2020 Leave a comment
in economics of crime, economics of religion, law and economics, television Tags: free speech
The Great Geomagnetic Storm of May 1921
16 May 2020 Leave a comment
May 12, 2020: 99 years ago this week, people around the world woke up to some unusual headlines.
“Telegraph Service Prostrated, Comet Not to Blame” — declared the Los Angeles Times on May 15, 1921. “Electrical Disturbance is ‘Worst Ever Known'” — reported the Chicago Daily Tribune. “Sunspot credited with Rail Tie-up” — deadpanned the New York Times.
They didn’t know it at the time, but those newspapers were covering the biggest solar storm of the 20th Century. Nothing quite like it has happened since.
It began on May 12, 1921 when giant sunspot AR1842, crossing the sun during the declining phase of Solar Cycle 15, began to flare. One explosion after another hurled coronal mass ejections (CMEs) directly toward Earth. For the next 3 days, CMEs rocked Earth’s magnetic field. Scientists around the world were surprised when their magnetometers suddenly went offscale, pens in strip chart recorders pegged uselessly…
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Media Turn Math Dopes into Dupes
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Those who have investigated global warming/climate change discovered that the numbers don’t add up. But if you don’t do the math you wouldn’t know that, because in the details is found the truth (the devilish contradictions to sweeping claims). Those without numerical literacy (including apparently most journalists) are at the mercy of the loudest advocates. Social policy then becomes a matter of going along with herd popularity. Shout out to AOC!
Now we get the additional revelation regarding pandemic math and the refusal to correct over-the-top predictions. It’s the same dynamic but accelerated by the more immediate failure of models to forecast contagious reality. Sean Trende writes at Real Clear Politics The Costly Failure to Update Sky-Is-Falling Predictions. Excerpts in italics with my bolds.
On March 6, Liz Specht, Ph.D., posted a thread on Twitter that immediately went viral. As of this writing, it has received over 100,000…
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SIR FRANCIS DRAKE AND THE SPANISH ARMADA – 1588
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In England his name described a malewaterfowl that might be seen bobbing placidly on the village pond — but in Spanish the drake became a dragon. El Draque was a name with which to frighten naughty children, a fire-breathing monster whose steely, glittering scales ‘remained impregnable’, wrote the sixteenth-century dramatist Lope de Vega, ‘to all the spears and all the darts of Spain’.
By the 1580s, Francis Drake’s reputation provoked panic in the seaports of Spain and in its New World colonies. In a series of daring raids, the rotund Devon-born pirate had pillaged Spanish harbours, looted Catholic churches and hijacked King Philip’s silver bullion as it travelled from the mines of the Andes to the Spanish treasury in Seville. In his most famous exploit, during 1577-80, Drake had sailed round the world claiming California for Queen Elizabeth and arriving home laden with treasure. No wonder she knighted him —…
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#OTD #COVID19
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in health economics, politics - Australia, politics - New Zealand Tags: economics of pandemics
How the British royal family makes money
16 May 2020 Leave a comment
in economics of media and culture
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