
#FreeFromHijab #WorldHijabDay
01 Feb 2020 Leave a comment
in economics of religion Tags: Freedom of religion

#climateemergency #globalwarming @GreenpeaceAP @Greens @NSWGreens #OTD 1939
01 Feb 2020 Leave a comment
in economic history, economics of natural disasters, energy economics, environmental economics, global warming, politics - Australia Tags: climate alarmists

James Heckman on affirmative action
01 Feb 2020 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, constitutional political economy, discrimination, econometerics, economic history, economics of bureaucracy, economics of education, economics of information, economics of regulation, human capital, income redistribution, labour economics, labour supply, law and economics, occupational choice, occupational regulation, politics - USA, population economics, poverty and inequality, Public Choice, public economics, urban economics Tags: affirmative action, child poverty, family poverty, racial discrimination, The fatal conceit
Affirmative Action and Its Mythology by Roland G. Fryer Jr. and Glenn C. Loury
01 Feb 2020 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, discrimination, econometerics, economic history, economics of bureaucracy, economics of education, economics of information, economics of regulation, gender, human capital, income redistribution, labour economics, labour supply, law and economics, occupational choice, politics - USA, poverty and inequality, Public Choice, public economics, rentseeking Tags: affirmative action
Retro-Power: Australia’s Wind & Solar Obsession Delivers Third World Power Supply
01 Feb 2020 1 Comment
Australia’s obsession with intermittent wind and solar is delivering a power supply you’d expect to find in the darkest corners of the Third World.
Yet again, peak power demand in summer has renewable energy zealots berating consumers for having the temerity to turn on air-conditioners, dishwashers and appliances.
Yet again, the same zealots waffle on about “smart grids” and “mega-batteries” being the solution to wind and solar power’s insoluble intermittency.
Yet again, the delusional assert that Australia’s “ageing” coal-fired power plants are at fault because they’re “unreliable” and that it’s “dangerous” to depend on them.
STT has dealt with that kind of nonsense a couple of times recently:
Ever-Dependable: Coal-Fired Power Keeps On Keeping On During Australia’s Bushfire Battle
Deranged & Delusional: Victorian Government Claims Wind & Solar More Reliable Than Fossil Fuels
What was mildly amusing about the story from The Australian below was not just the fact that STT has…
View original post 1,223 more words
Unraveling the Mysteries of Money – Cochrane and Uhlig
01 Feb 2020 Leave a comment
in applied price theory, budget deficits, business cycles, economic growth, economic history, economics of information, Euro crisis, financial economics, fiscal policy, global financial crisis (GFC), great recession, macroeconomics, monetary economics, Public Choice Tags: fiscal stimulus, monetary policy
Eugene Fama: “Too Big To Fail” Perverts Activities and Incentives
01 Feb 2020 Leave a comment
By Simon Johnson, co-author of 13 Bankers
In our continuing financial debate, one of the central myths – put about by big banks and also not seriously disputed by the administration – is that reining in “too big to fail” banks is in some sense an “anti-market” approach.
Speaking on CNBC at the end last week, Gene Fama – probably one of the most pro-market economists left standing – pointed out that this view is nonsense. (The clip is here, and also on Greg Mankiw’s blog; TBTF is the focus from about the 5:50 minute mark.)
Having banks that are Too Big To Fail, according to Fama, is “perverting activities and incentives” in financial markets – giving big financial firms,
“a license to increase risk; where the taxpayers will bear the downside and firms will bear the upside.”
View original post 399 more words
The Ever Changing Climate
01 Feb 2020 Leave a comment
Update: January 31, 2020
This is an update to a post Simple Science 2: World of Climate Change with two new slides and a revised sequence. Context below is from the previous with the new content.
Raymond of RiC-Communications studio commented on a recent post and made an offer to share here some graphics on CO2 for improving public awareness. He has produced 12 interesting slides which are presented in the post Here’s Looking at You, CO2. This post presents the three initial charts he has so far created on a second theme The World of Climate Change. I find them straightforward and useful, and appreciate his excellent work on this. Project title is link to RiC-Communications. (For some reason I had problems getting my Opera browser to load the revised links, but Edge worked fine.
This project is The World of Climate Change
Infographics can be helpful, in…
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#climateemergency #globalwarming @GreenpeaceAP @Greens
01 Feb 2020 Leave a comment
in economics of natural disasters, energy economics, environmental economics, global warming, politics - Australia Tags: climate alarmists, pessimism bias

Another defeat for the First Amendment: Supreme Court rules that the “Bladensburg cross” is not a religious symbol
01 Feb 2020 Leave a comment
The strategy of American courts in their desire to continue allowing religious incursion into the government—be it “In God We Trust” on our money or religious symbols on public land—has been to pretend that religious symbols and mottos morph into nonreligious, historical and secular icons over time. This is patently bogus, an offense to anybody with two neurons to rub together.
And so, in an important decision about the First Amendment, the U.S. Supreme court ruled today that a giant cross on public land in Maryland, commemorating war dead, was constitutional. And the vote of the Roberts court, though opinions were fractured, was 7-2 (only Ginsburg and Sotomayor dissented; where was Kagan?). Read the Washington Post‘s take by clicking on the screenshot below. The full range of opinions can be found in a pdf here.
As usual, the pretense is that the cross is no longer a wholly…
View original post 624 more words
Happy Brexit Day
01 Feb 2020 Leave a comment
Today is Brexit Day. As of 6:00 P.M. EST (Midnight in Brussels), the United Kingdom no longer will be a member of the European Union.
This is definitely good news in the long run since the U.K. will now be somewhat insulated from inevitable economic crises
caused by the European’s Union’s dirigiste economic model and grim demographic outlook.
Whether it’s also good news in the short run depends mostly on decisions in London, such as whether Prime Minister Boris Johnson and his Tory government expand economic freedom (which should be the case, but there are worrisome signs that the spending burden will increase).
But Washington and Brussels also will play a role since the U.K. wants to sign free-trade agreements. This could be a problem since the E.U. will be tempted to behave in a spiteful manner and Trump and his trade team are protectionists.
But…
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Analysis of a carbon forecast gone wrong: the case of the IPCC FAR
01 Feb 2020 Leave a comment
by Alberto Zaragoza Comendador
The IPCC’s First Assessment Report (FAR) made forecasts or projections of future concentrations of carbon dioxide that turned out to be too high.
View original post 5,216 more words
Brexit DAY!
01 Feb 2020 Leave a comment
in international economic law, international economics, International law, Public Choice Tags: Brexit
Nassim Taleb on IQ
01 Feb 2020 Leave a comment
Nassim Taleb has published an attack on intelligence research that is getting a lot of attention and so I thought I would respond to it.
As summarized in this useful chart from Strenze (2015), meta-analyses of hundreds of studies have demonstrated that IQ is predictive of life success across many domains.

This is the basic validating fact when it comes to IQ: the use of IQ tests can help us predict things we want to predict and to explain things we want to explain.
Does IQ Linearly Predict Success?
Some people wonder if IQ’s relationship with success weakens above a certain threshold such that it is better described by a curvilinear trend rather than a simple linear one. Taleb brings this up and displays this graph:

This graph does show a decrement in IQ’s predictive validity as we move up the IQ scale. But there is still a positive…
View original post 3,567 more words






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