Maybe not, isn’t that a form of double counting? After all, defense spending is there to enable the production of other goods and services, it is not useful per se. Chandler S. Reilly and Vincent Geloso recalculate the history of U.S. economic growth using this new method: In fact, our corrections applied to the entire […]
Should gdp include defense spending?
Should gdp include defense spending?
15 May 2025 Leave a comment
in applied price theory, defence economics, economic growth, economic history, macroeconomics
Bill Maher: New Rules 2
14 May 2025 Leave a comment
in politics - USA, television, TV shows Tags: 2024 presidential election
Here’s the second of Bill Maher’s “New Rules” segments that I haven’t posted. The YouTube caption is “New Rule: Before they can take on Donald Trump, Democrats have to decide which wing of their own party is best to lead them out of the wilderness.” Well, the segment doesn’t even really tackle that question. It […]
Bill Maher: New Rules 2
Ministers of Finance
14 May 2025 Leave a comment
No, nothing so serious as fiscal policy. I saw this morning this chart in a tweet from a Canadian economics professor (prompted by the new ministerial appointments in Canada). I was digging around in the list of former New Zealand Ministers of Finance anyway, and thought it might be interesting to try a New Zealand […]
Ministers of Finance
Supply is elastic, installment #6437
14 May 2025 Leave a comment
in applied price theory, entrepreneurship, health economics, industrial organisation, politics - USA, Public Choice, rentseeking Tags: price controls
Numerous empirical studies show a relationship between a drug’s expected market size and the magnitude of research and development investments. Early studies focused on changes to market size resulting from the demographics of disease burden (Acemoglu and Linn 2004) and policy changes influencing market demand (Finkelstein 2004). These findings have largely been confirmed by more […]
Supply is elastic, installment #6437
Oregon Law Professor Accuses Oregon Law Review of Anti-Israeli Discrimination
14 May 2025 Leave a comment
in defence economics, discrimination, economics of education, politics - USA, war and peace Tags: free speech, Gaza Strip, Israel, Middle-East politics, political correctness, regressive left
The University of Oregon has long faced controversies over the alleged political bias on its campuses, including celebrating the career of a professor who physically attacked pro-life students as a model of activism. It has been criticized for monitoring off-campus speech and unconstitutionally censoring dissenting faculty. Now, Law Professor Ofer Raban is accusing the Law […]
Oregon Law Professor Accuses Oregon Law Review of Anti-Israeli Discrimination
What’s a New Drug Worth?
13 May 2025 Leave a comment
in applied price theory, health economics, politics - USA
In a a juxtaposition of events that redefines the meaning of “coincidence,” President Trump announced a new policy for prescription drug pricing this morning, and the the Spring 2025 issue of the Journal of Economic Perspectives, released three days ago on Friday morning, begins with a four-paper symposium on drug pricing. (Full disclosure: I work…
What’s a New Drug Worth?
#TheGreatEscape
13 May 2025 Leave a comment
in economic history, health economics Tags: anti-vaccination movement, The Great Escape, vaccines
New Rule: The Not-Working Class | Real Time with Bill Maher (HBO)
13 May 2025 Leave a comment
in labour economics, labour supply, politics - USA, television, TV shows, unemployment
Some Links
13 May 2025 Leave a comment
in applied price theory, econometerics, industrial organisation, international economics, survivor principle Tags: free trade, tariffs
TweetNicholas Bloom, Kyle Handley, André Kurmann, and Philip A. Luck revisit the “China Shock.” Two slices: Our research investigates the extent to which the opposing trends in manufacturing and services job growth are related. Our findings reveal that local labor markets more exposed to Chinese import competition experienced larger manufacturing job losses. But these losses…
Some Links
Willis responds to Vance celling her a c**t
12 May 2025 Leave a comment
in discrimination, gender, health and safety, human capital, labour economics, labour supply, occupational choice, politics - New Zealand, poverty and inequality Tags: gender wage gap, sex discrimination
Nicola Willis writes: Having the C-word directed at me by a journalist in a mainstream publication wasn’t on my bingo-list for Mother’s Day 2025. Nor was being accused of “girl-math”. But there you have it, that’s what was thrown at me and my female colleagues in a recent newspaper column as hopelessly devoid of facts as it […]
Willis responds to Vance celling her a c**t
Nature tackles race and eugenics in a torturous and tortuous article
12 May 2025 Leave a comment
in discrimination, economics of education, health economics Tags: racial discrimination
Yes, folks, the science journals are still flaunting their virtue in articles that are similar to a gazillion articles published before. This time (and not the first time), the article is torturous because the assertions are mostly misleading. And it’s tortuous because it weaves back and forth between two themes: eugenics and the assumed beneficial […]
Nature tackles race and eugenics in a torturous and tortuous article
“A Circus-Like Atmosphere”: Nessel Drops Charges Against University of Michigan Anti-Israel Protesters
12 May 2025 Leave a comment
in economics of crime, law and economics, politics - USA
Roughly a year ago, Michigan Attorney General Dana Nessel made a splash in the press after she brought charges against anti-Israel protesters at the University of Michigan. The move followed a refusal of liberal local district attorneys to prosecute the cases despite clear criminal conduct. Now, as violent and disruptive protests are again rising on […]
“A Circus-Like Atmosphere”: Nessel Drops Charges Against University of Michigan Anti-Israel Protesters
What Happens When There Is Too Much Solar Power
12 May 2025 Leave a comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming Tags: solar power, wind power
By Paul Homewood https://gridwatch.co.uk/ At midday today, solar power was supplying 11.2 GW out of a total demand of 28.27 GW. (This is after adding back solar, which normally appears as a reduction in demand, because it is embedded generation). Mad Miliband plans to triple the current solar capacity of 16 GW by 2030. […]
What Happens When There Is Too Much Solar Power
“An Act of Solidarity”: Sotomayor Calls for Lawyers to “Fight this Fight” in Controversial Speech
11 May 2025 Leave a comment
in politics - USA Tags: constitutional law
Justice Sonia Sotomayor has previously been criticized for making public comments that some viewed as overly political or partisan, including telling law students to organize in favor of abortion rights. This week, the Justice has triggered another controversy in calling for lawyers to “fight this fight,” presumably against the Trump Administration.
“An Act of Solidarity”: Sotomayor Calls for Lawyers to “Fight this Fight” in Controversial Speech
Utopia, you are standing in it! 
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