We create a novel reign-level data set for European monarchs, covering all major European states between the 10th and 18th centuries. We first document a strong positive relationship between rulers’ cognitive ability and state performance. To address endogeneity issues, we exploit the facts that (i) rulers were appointed according to hereditary succession, independent of their […]
The Effect of European Monarchs on State Performance
The Effect of inbreeding of European Monarchs on State Performance
14 Feb 2025 Leave a comment
in development economics, economic history Tags: Europe
Galaxy Quest: Transported and probed aboard the ship
14 Feb 2025 Leave a comment
in movies, television, TV shows
Why the RMA must go
13 Feb 2025 Leave a comment
in economics of bureaucracy, economics of regulation, environmental economics, environmentalism, politics - New Zealand, Public Choice, urban economics
Stuff reports: The small town of Wānaka will not have a McDonald’s restaurant after a resource consent application was declined. Independent commissioners released their decision on the proposed McDonald’s restaurant on Wednesday. They said the adverse effects of the proposed restaurant on the environment would be more than minor on the approach to Wānaka, the landscape character […]
Why the RMA must go
LIVE from Parliament: 2025 Jonesie Awards
13 Feb 2025 Leave a comment
in budget deficits, economics of bureaucracy, fiscal policy, macroeconomics, politics - New Zealand, Public Choice, public economics
David Friedman on consequences of climate change 2023
13 Feb 2025 Leave a comment
in applied price theory, David Friedman, economic history, energy economics, environmental economics, global warming, Ronald Coase
Good question
13 Feb 2025 Leave a comment
in defence economics, economic history, war and peace Tags: China
Cordon Pricing Makes New York Congestion Worse
13 Feb 2025 Leave a comment
in applied price theory, transport economics, urban economics Tags: cordon pricing
Early reports claim that New York City’s so-called congestion pricing program is a great success, reducing the number of vehicles driving into lower Manhattan by 5 to 6 percent. However, because it really isn’t congestion pricing — that is, it doesn’t price roads by how much congestion there is but … Continue reading →
Cordon Pricing Makes New York Congestion Worse
Protection against asteriod strikes
13 Feb 2025 Leave a comment
in defence economics, economics of natural disasters Tags: space
I have some bad news, fellow Earthlings: There is a newly discovered asteroid, called 2024 YR4, headed for our planet. Fortunately, the risk is neither great nor urgent. The chance of impact, which would happen on Dec. 22, 2032, is estimated at only about 2.3%. The worst-case scenario, though not world-ending, is still horrific. The asteroid is estimated […]
Protection against asteriod strikes
The economic impact of the 2000 Sydney Olympics
13 Feb 2025 Leave a comment
in applied price theory, sports economics Tags: Olympic Games
Economic impact studies are typically used to justify large sporting events. However, those studies typically apply a set of overly positive assumptions, leading to large overestimates of economic impact. Andrew Zimbalist even wrote a book about this problem, Circus Maximus (which I reviewed here).Now, it is rare for the authors of an economic impact study to go…
The economic impact of the 2000 Sydney Olympics
I like maps
12 Feb 2025 Leave a comment
in defence economics, economic history, International law, law and economics, property rights Tags: economics of borders, maps
More on the “three-societies letter” about sex
11 Feb 2025 Leave a comment
in discrimination, economics of education, gender, liberalism, Marxist economics, politics - USA Tags: free speech, political correctness, regressive left, sex discrimination
Here’s a quick update on my critique of a letter issued by three organismal-biology-society Presidents claiming that sex isn’t binary—not in humans and, indeed, not in any species. The signers were the Presidents of the Society for the Study of Evolution (SSE), the American Society of Naturalists (ASN), and the Society of Systematic Biologists (SSB), […]
More on the “three-societies letter” about sex
The long road to housing affordability
11 Feb 2025 Leave a comment
in applied price theory, economics of bureaucracy, economics of regulation, income redistribution, law and economics, politics - New Zealand, property rights, Public Choice, rentseeking, transport economics, urban economics Tags: housing affordability, land supply, zoning
There is much work yet to be done in New Zealand to improve housing affordability, despite recent declines in valuations. Eric Crampton writes – It wasn’t that long ago that New Zealand’s housing market made international news because of its insanity. In 2016, The Guardian tagged Auckland as the “hottest property market in the world” […]
The long road to housing affordability
Ireland: Good Corporate Tax Policy vs. Bad Government Spending Policy
11 Feb 2025 Leave a comment
in budget deficits, business cycles, economic growth, economic history, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, labour economics, labour supply, law and economics, macroeconomics, monetary economics, public economics Tags: Ireland, taxation and investment
I’m a big fan of Ireland’s low corporate tax rate for three reasons. First, it shows that good tax policy generates positive economic outcomes as per-capita GDP in Ireland has grown by record amounts. Second, it shows that lower tax rates can in some cases lead to more revenue. Sort of a turbo-charged version of […]
Ireland: Good Corporate Tax Policy vs. Bad Government Spending Policy
Utopia, you are standing in it! 
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