Monthly Archives: June 2016

Was the Fed necessary?

George Selgin writes, Nationwide branch banking, by permitting one and the same bank to operate both in the countryside and in New York, would have avoided this dependence of the entire system on a handful of New York banks, as … Continue reading

Posted in Economic History, financial markets | 5 Comments

My book in paperback

I found it by searching on Amazon for “Specialization and trade paperback Kling”

Posted in books and book reviews | Comments Off

The Bond Bubble

Balazs Csullag, Jon Danielsson, and Robert Macrae write, A rational buy-and-hold investor who trusts the central banks should not buy long-dated bonds. While a high degree of central bank credibility used to be important to bond holders, today this seems … Continue reading

Posted in government debt crisis, Mark Thoma is Indispensable | 14 Comments

A Commenter and I Think Along Similar Lines

He (or she) writes, Not enough talk about elite hypocrisy; Elite professions like finance or law have a [boat]load of regulatory protectionism but even economists don’t really like to talk about that; but when non-elites want protectionism for their trades … Continue reading

Posted in Specialization and Trade Economics Intro, trade and immigration | 32 Comments

Recent Pre-K Studies Not Optimistic

Lindsey Burke and Salim Furth write, New studies of large-scale preschool programs in Quebec and Tennessee show that vastly expanding access to free or subsidized preschool may worsen behavioral and emotional outcomes. You may have seen it claimed elsewhere that … Continue reading

Posted in Economics of Education | 19 Comments

Are Moral Absolutists Easier to Trust?

Molly Crockett says, We’ve done experiments where we give people the option to play a cooperative game with someone who endorses deontological morality, who says there are some rules that you just can’t break even if they have good consequences. … Continue reading

Posted in behavioral economics | 9 Comments

A Libertarian Conundrum

Alfred Moore writes, Hayek regards his own understanding of spontaneous orders as scientific. For all his talk of the distribution of knowledge in society, knowledge of society was concentrated among people initiated into the science of complex orders, and consequently … Continue reading

Posted in Libertarian Thought | 12 Comments

The White House on Prime-Age Males

This report created a splash, although the findings are hardly news. The prime-age male labor force participation rate has been falling in the United States for more than half a century. This long-term trend is worrisome, since it indicates that … Continue reading

Posted in Four Forces Watch | 18 Comments

A Commenter’s Suggestion

He writes, May I humbly/respectfully suggest, Arnold, that you consider replacing your economics-is-not-a-science meme with an economics-is-like-applied-science (i.e. engineering and medicine) one. Reading a draft of Jeffrey Friedman’s next book, I gather that this was John Dewey’s notion. Just as … Continue reading

Posted in public choice, Specialization and Trade Economics Intro | 10 Comments

How Should Europe be Organized?

In the wake of the Brexit vote, here are my thoughts. I view the issue primarily from a libertarian perspective, which means a bias in favor of free trade and free movement and a bias against centralized bureaucracy. 1. The … Continue reading

Posted in International issues, Libertarian Thought, links to my essays | 24 Comments