A Conversation with Armen A. Alchian 2001
13 Jan 2022 Leave a comment
in applied price theory, Armen Alchian, comparative institutional analysis, economics of information, history of economic thought, theory of the firm
Alan Manning “Monopsony and the wage effects of migration”
12 Jan 2022 Leave a comment
in applied price theory, applied welfare economics, discrimination, econometerics, economic history, human capital, labour economics, labour supply, occupational choice, poverty and inequality Tags: economics of immigration, monopsony
Primary Driver for This Inflation Is Surging Demand (Fueled by COVID Payments), Not Supply Chain Constraints
12 Jan 2022 Leave a comment
Inflation is colloquially defined as, “Too much money chasing too few goods (and services)”. Supply chain constraints get talked about, and these are widely blamed for the inflation we are seeing. Of course, supply limitations play into inflation, but to focus on them is to miss the elephant in room. The primary driver of this inflation is not “too few goods”, but “too much money.”
Such is the thesis of a widely circulated article by Ray Dalio’s investing firm Bridgewater Associates, “It’s Mostly a Demand Shock, Not a Supply Shock, and It’s Everywhere.” The point is summarized:
While the headlines tend to focus on the micro elements of the supply shock (the LA port, coal in China, natural gas in Europe, semiconductors globally, truckers in the UK, etc.), this perspective largely misses the macro cause that is likely to persist and for which there is no idiosyncratic solution.
View original post 529 more words
TOTALLY GUILTY!!: Total Wind & Solar Power Collapses Responsible For Texan Blackouts
12 Jan 2022 Leave a comment
After America’s big freeze and the blackouts that followed, wind and solar acolytes are struggling to explain away the hard numbers, yet again.
On 16-17 February – with hundreds of wind turbines frozen solid during breathless, freezing weather – Texan wind power output was a paltry 2% of installed capacity (see above and below).
Solar panels were buried under inches-deep blankets of snow and ice and, likewise, just as useless.
Millions of Texans were left freezing in the dark; no doubt, chuffed with the progress of their ‘inevitable transition’ to an all wind and sun powered future.
The only thing keeping the lights on, at all, were Texan nuclear and gas-fired power plants. But, if your insight into world affairs was left to the mainstream media, you’d think it was the other way round.
The debacle playing out in Germany – dealt with here: Coal Comfort – barely rates a…
View original post 1,598 more words
After the foster kitten’s sweet kiss, mom cat had no choice but to nurse him
12 Jan 2022 Leave a comment
Oil – Hitler’s Only Chance to Win the War? – WW2 Special
12 Jan 2022 Leave a comment
in defence economics, war and peace Tags: World War II
Trench Warfare in World War 1 I THE GREAT WAR Special
12 Jan 2022 Leave a comment
in defence economics, war and peace Tags: World War I
Study looks at Antarctic sea ice changes since the early 20th century, increases since 1979
11 Jan 2022 Leave a comment
Antarctica
The article says ‘The satellite measurements start in 1979’, but the USGS Landsat satellite project has been ‘imaging the Earth since 1972’. The researchers say in the abstract of their paper: ‘In stark contrast to the Arctic, there have been statistically significant positive trends in total Antarctic sea ice extent since 1979. However, the short and highly variable nature of observed Antarctic sea ice extent limits the ability to fully understand the historical context of these recent changes.’ The UK Met Office reported in October 2021: ‘Antarctic sea ice reached a maximum extent (to date) of 18.75 million sq km on 1st September 2021 (Figure 7), which is very close to the 1981-2010 average maximum extent of 18.70 million sq km.’
– – –
A study led by Ohio University researchers shows that the increase of sea ice surrounding Antarctica since 1979 is a unique feature of Antarctic…
View original post 418 more words
Recent Comments