Monthly Archives: September 2015

Blame the DA’s

John Pfaff says, Though we have a smaller pool of people being arrested, we’re sending a larger and larger number of them to prison. the probability that a district attorney files a felony charge against an arrestee goes from about … Continue reading

Posted in Tyler Cowen is my Favorite Blogger | 13 Comments

Hypocrisy and Cowardice at Brookings

The WaPo reports, Sen. Elizabeth Warren, stepping up her crusade against the power of wealthy interests, accused a Brookings Institution scholar of writing a research paper to benefit his corporate patrons. Warren’s charge prompted a swift response, with Brookings seeking … Continue reading

Posted in Economic education and methods, Politics | 10 Comments

Matthew Kahn Asks the Tough Question

He writes, Is Professor Summers saying that the subset of scholars who were studying macro have been collectively wasting their lives? Pointer from Mark Thoma. I believe that they have been wasting their lives. I believe it even more strongly … Continue reading

Posted in books and book reviews, Mark Thoma is Indispensable, PSST and Macro | 3 Comments

Minsky Revisited

Olivier Blanchard says, mainstream macroeconomics had taken the financial system for granted. The typical macro treatment of finance was a set of arbitrage equations, under the assumption that we did not need to look at who was doing what on … Continue reading

Posted in books and book reviews, Mark Thoma is Indispensable, PSST and Macro | 2 Comments

Nigerian Entrepeneurs, Not a Scam

The abstract of a study for the World Bank by economist David J. McKenzie reads Almost all firms in developing countries have fewer than 10 workers, with the modal firm consisting of just the owner. Are there potential high-growth entrepreneurs … Continue reading

Posted in business economics, institutional economics, Tyler Cowen is my Favorite Blogger | 4 Comments

A Short Read

I was sent a review copy of On Inequality, by Harry G. Frankfurt. On p. 11, he writes, a preoccupation with the condition of others interferes with the most basic task on which a person’s intelligent selection of monetary goals … Continue reading

Posted in books and book reviews, income distribution-wealth-poverty | 8 Comments

Life Expectancy and Income

Timothy Taylor writes, the reasons for this growing gap in life expectancy by income are not altogether clear. Some explanations clearly aren’t supported by facts. For example, although overall levels of tobacco use are down, the decline seems to have … Continue reading

Posted in behavioral economics, income distribution-wealth-poverty, Timothy Taylor is my Favorite Blogger | 16 Comments

The Fed and Long-Term Rates

A commenter writes, you can just look at a graph of the effective federal funds rate and see that (especially in recent years) it’s moved closely — in artificial-looking steps that are surely not the recent of some fundamental market … Continue reading

Posted in Monetary Economics | 4 Comments

The Basic Social Rule and Dissent

From Elizabeth Warren’s book, as relayed by a review in the NYT. After dinner, “Larry leaned back in his chair and offered me some advice,” Ms. Warren writes. “I had a choice. I could be an insider or I could … Continue reading

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

Thoughts on Drug Pricing

A reader asked me to comment on this story, about the guy whose firm bought the license for a drug and then jacked up its price. 1. I don’t know the whole story in the example. My understanding is that … Continue reading

Posted in business economics, Economics of Health Care | 14 Comments