Milton Friedman marshalls arguements against market socialism and workers’ cooperatives
25 Jul 2019 Leave a comment
David Friedman – The World From An Anarchist-Anachronist-Economist’s View
25 Jul 2019 Leave a comment
Prescott on the GFC
24 Jul 2019 Leave a comment
in business cycles, Edward Prescott, global financial crisis (GFC), great depression, great recession, macroeconomics, monetary economics Tags: real business cycles
Double Standards: Greens Run Silent on Wind Turbine Bird & Bat & Bug Slaughter
24 Jul 2019 2 Comments
The media went nuts when former Greens leader, Bob Brown turned on a wind farm in his backyard. Rampant hypocrisy, was just the first of the charges levelled at a man renowned for his hatred of reliable and affordable electricity.
In the result, the Liberal/National Coalition were very grateful that Dr Bob’s hatred of coal led him and his acolytes on a protest tour of Far North Queensland during the Federal election campaign in May, where Bob and a bunch of sandal wearing troglodytes railed against Adani’s proposed Carmichael mine.
Locals were ready to lynch him and his entourage (pubs refused to serve them beer) and, thanks to Bob’s job and economy wrecking stance, voters took their baseball bats to the heavily green tinged Labor party, returning the Coalition to Federal government.
The party that he founded, the Australian Greens enjoy enormous financial support from renewable energy rent seekers and…
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Reading Charles I. Plosser’s ‘Understanding real business cycles’
24 Jul 2019 Leave a comment
Charles Plosser’s review paper entitled ‘Understanding real business cycles‘ is a must for all those interested in the modern theories of the business cycles. A major advantage of the paper that it is written in plain English, it has a well-organized structure and summarizes by giving a clear vision of future development. Some of the most important suggestions of the paper:
- Keynesian macro is not a theory judged by the modern choice-theoretic standards. Keynesian models had significant empirical success but failed to trace the macro-level back to solid microfoundations.
- The aim of general equilibrium modelling is to help us to understand the role played by optimization and equilibrating tendencies at the agent-level. It makes no sense to postulate a disequilibrium framework or market failures before understanding the contribution of a general macroeconomic equilibrium. Large-scale fluctuations may be triggered even in the absence of market failures.
- RBC-theory has common…
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Tesla Electric Airplane; 60% of weight is the batteries
24 Jul 2019 Leave a comment
in energy economics, environmental economics, global warming, transport economics
The Civil War, Part I: Crash Course US History #20
24 Jul 2019 Leave a comment
in defence economics, economic history, law and economics, politics - USA, Public Choice Tags: American Civil War
Could solar geoengineering counter global warming? | The Economist
24 Jul 2019 Leave a comment
in environmental economics, global warming Tags: Anti-Science left, climate alarmists
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