Monthly Archives: May 2014

Taking Gains as Leisure

The BLS’ Shawn Sprague writes, workers in the U.S. business sector worked virtually the same number of hours in 2013 as they had in 1998—approximately 194 billion labor hours.1 What this means is that there was ultimately no growth at … Continue reading

Posted in Growth Causes and Consequences, Timothy Taylor is my Favorite Blogger | 2 Comments

Student Loans and Risk

Atif Mian and Amir Sufi write, We believe they should recognize that the central problem with student loans is that they force graduates to bear a disproportionate amount of risk for circumstances completely outside their control. The right way to … Continue reading

Posted in Economics of Education | 1 Comment

Timothy Taylor on Economics and Morality

He writes, After all, many academic subjects study unsavory aspects of human behavior. Political science, history, psychology, sociology, and literature are often concerned with aggression, obsessiveness, selfishness, and cruelty, not to mention lust, sloth, greed, envy, pride, wrath, and gluttony. … Continue reading

Posted in Libertarian Thought, Timothy Taylor is my Favorite Blogger | 7 Comments

Ben Hunt on Financial Narrative

He wrote, the current Narrative associated with Federal Reserve policy is just as powerful and just as real as any historical Narrative I am aware of, including the Narratives of global religions and major nationalities. Fifty years from now, will … Continue reading

Posted in financial markets | 2 Comments

Politics and Policy

William Galston writes, The document’s emphasis on the middle class is a thinly veiled repudiation of the Romney campaign, whose emphasis on “job creators” reduced the 2012 Republican convention to a gathering of the National Federation of Independent Businesses. As … Continue reading

Posted in Politics, Reihan Salam is the ultimate wonk, Setting Economic Priorities | 12 Comments

Regulatory Arbitrage Uber Alles

Mark Thoma points to an essay by Dean Baker accusing airbnb, uber, and other services of cashing in on regulatory evasion as opposed to the Internet or other economic fundamentals. Thoma comments, Agree about the level playing field, but perhaps … Continue reading

Posted in Mark Thoma is Indispensable, regulation | 4 Comments

Unreformed Conservatism?

James Pethokoukis writes, Reagan-era nostalgia, unfortunately, is not much of a superpower. Without recognition that new economic challenges require new thinking and new solutions, this tired GOP sequel is unlikely to attract much of an audience. He refers to the … Continue reading

Posted in Politics, Setting Economic Priorities | 2 Comments

Work for a Profit

Let me re-post a recent quotation of the day from Don Boudreaux of Cafe Hayek. from page 184 of Thomas Sowell’s 1995 book, The Vision of the Anointed: Self-Congratulation as a Basis for Social Policy (original emphasis): The call for … Continue reading

Posted in books and book reviews, Libertarian Thought | 7 Comments

Herbert Gintis on the Economics of Public Policy

It his Amazon review of Complexity and the Art of Public Policy: Solving Society’s Problems from the Bottom Up. First, neoclassically inspired public economics provides a very powerful and largely correct framework for analyzing when markets work well and when … Continue reading

Posted in books and book reviews, Economic education and methods, Tyler Cowen is my Favorite Blogger | 3 Comments

Another Proto-Libertarian

Philip K. Howard writes, Generations of lawmakers and regulators have written so much law, in such detail, that officials are barred from acting sensibly. Like sediment in the harbor, law has piled up until it is almost impossible — indeed, … Continue reading

Posted in books and book reviews, Libertarian Thought | 15 Comments