Monthly Archives: July 2015

Puzzling Statistics from the GDP Factory

Scott Sumner writes, This 4 and 1/2 years of sub-2% growth (on average) occurred during a period of rapidly falling unemployment, and above trend employment growth The implications for productivity growth are terrible. Supposedly, firms got rid of their ZMP … Continue reading

Posted in PSST and Macro, Scott Sumner is Coherent | 7 Comments

Partially Vertebrate College President

From a statement by the University of New Hampshire: The associate vice president for community, equity and diversity removed the webpage this morning after a meeting with President Huddleston. The president fully supports efforts to encourage inclusivity and diversity on … Continue reading

Posted in Economics of Education | 7 Comments

Occupational Licensing

The Obama Administration reports a sort of meta-analysis. One excerpt: Estimates suggest that over 1,100 occupations are regulated in at least one State, but fewer than 60 are regulated in all 50 States, showing substantial differences in which occupations States … Continue reading

Posted in regulation, Tyler Cowen is my Favorite Blogger | 7 Comments

Against Identical Expectations

Noah Smith writes, rational expectations might really be wrong. People might make systematic errors, thinking that booms or busts will last forever. If that’s the case, then it will require the economics profession to abandon one of its strongest orthodoxies. … Continue reading

Posted in financial markets, Mark Thoma is Indispensable | 8 Comments

Politics is a Hate Crime

1. Bernie Sanders is asked by Ezra Klein about the case for immigration as a tool to reduce international poverty. His response? Open borders? No, that’s a Koch brothers proposal. Sanders manages to appeal to xenophobia on two levels. For … Continue reading

Posted in Politics | 32 Comments

Financial Advice for Bryan Caplan

He says that he maintains as much housing debt as possible, in order to take advantage of the mortgage interest deduction. My advice to him is to sell his stock portfolio, pay off his housing debt, and take long positions … Continue reading

Posted in financial markets, Housing and housing finance | 24 Comments

Academia: Was it Always Thus?

In response to me, Devin Helton writes, what these complaints ignore is that intellectual narrowness in academia has been a major problem for many decades. The devastating real world consequences have already happened. His long post includes many citations, although … Continue reading

Posted in Economics of Education, Politics | 18 Comments

Further Conversation

You may recall my essay on MIT economics. Now we have Paul Krugman in response. Robert Shiller makes some of the same points that John Cochrane was making at lunch about the way that housing markets can get out of … Continue reading

Posted in Economic education and methods, Housing and housing finance, links to my essays, Mark Thoma is Indispensable | 4 Comments

Claiming Higher Productivity Growth: Some Implications

James Pethokoukis cites, without providing a link, a recent claim by Goldman Sachs economists. If our ballpark estimate of a 0.7pp understatement of annual GDP growth is close to the mark, the measured growth pace over the past five years … Continue reading

Posted in PSST and Macro | 6 Comments

Ron Bailey’s New Book

It is called The End of Doom. From the final paragraph: New technologies and wealth produced by human creativity will spark a vast environmental renewal in this century. . .the world will be populated with fewer and much wealthier people … Continue reading

Posted in books and book reviews, energy and the environment | Comments Off