Monthly Archives: July 2013

Word of the Day

Alex Harrowell writes, So here’s an important German word, which we could well import into English: Deutungshoheit. This translates literally as “interpretative superiority” and is analogous to “air superiority”. Deutungshoheit is what politicians and their spin doctors attempt to win … Continue reading

Posted in Politics, Tyler Cowen is my Favorite Blogger | 3 Comments

Health Care Budget Implosion

Not just in the U.S. Frances Woolley writes, Right now all of the provinces and territories except for Newfoundland, Saskatchewan and Yukon are running deficits In Canada, provinces run the health care system(s). Canada has a very pronounced baby boom … Continue reading

Posted in Economics of Health Care | 7 Comments

Joel Mokyr vs. Technopessimism

He writes, But if the bulk of unpleasant, boring, unhealthy and dangerous work can be done by machines, most people will only work if they want to. In the past, that kind of leisurely life was confined largely to those … Continue reading

Posted in Growth Causes and Consequences | 23 Comments

Excerpts from Another Section of the Book

In this section, I want to introduce four possibilities for the effectiveness of policy instruments in helping to reach a target for the unemployment rate. In the classical model, neither instrument is effective. In the crude Keynesian model, deficit spending … Continue reading

Posted in PSST and Macro | 4 Comments

China and Democracy

Eric Li gives a talk. He argues that China’s process for selecting leaders is more open and competitive than the typical democracy. Thanks to Greg Mankiw for the pointer. My thoughts: 1. Exit is much better than voice. 2. We … Continue reading

Posted in Libertarian Thought | 3 Comments

John Cochrane on Valuing Government Pensions

He writes, A good response occurred to me, to those cited by Josh who want to argue that underfunding is a mere $1 trillion. OK, let’s issue the extra $1 trillion of Federal debt. Put it in with the pension … Continue reading

Posted in financial markets, government debt crisis | 6 Comments

Comparing Vickies with Thetes

Dave Ramsey, citing Tom Corley, has a list of twenty differences. 63% of wealthy parents make their children read 2 or more non-fiction books a month vs. 3% for poor. I don’t recall making my children read 2 non-fiction books … Continue reading

Posted in income distribution-wealth-poverty | 3 Comments

When Econ Bloggers Changed My Mind

Noah Smith started this game. Don Boudreaux convinced me that respect for political leaders is a cultural bug, not a feature. Robin Hanson convinced me that things are not what they seem. Scott Sumner convinced me that low nominal interest … Continue reading

Posted in Libertarian Thought | Comments Off

Should You Buy Bonds?

Lacy Hunt and Van Hoisington write, Presently the inflation picture is most favorable to bond yields. The year-over-year change in the core personal consumption expenditures deflator, an indicator to which the Fed pays close attention, stands at a record low … Continue reading

Posted in financial markets | 3 Comments

Central Planning, in Practice

The Washington Post reports, Unknown to most, a single committee of the AMA, the chief lobbying group for physicians, meets confidentially every year to come up with values for most of the services a doctor performs. Pointer from a reader, … Continue reading

Posted in Economics of Health Care, public choice | 1 Comment