Monthly Archives: August 2016

Thoughts on Crowding Out

Tyler Cowen writes, None of this has to involve higher interest rates, whether on government securities or corporate bonds, yet still there is an opportunity cost from the new decisions. Do interest rates have to go up every time resources … Continue reading

Posted in PSST and Macro, Tyler Cowen is my Favorite Blogger | 6 Comments

Obamacare Reality

Reed Abelson and Margot Sanger-Katz (NYT, the Upshot) write, Competition, at least in theory, helps keep premiums low and service high. That’s the whole point of having a market for health insurance. But 17 percent of people eligible for this … Continue reading

Posted in Economics of Health Care | 11 Comments

Excellent Sentences

From Alex Tabarrok. What bothers me about these stories is not the rent-seeking–that is to be expected. What bothers me is that there is a law that prescribes how mutual funds must inform their customers. Why must every aspect of … Continue reading

Posted in regulation | 14 Comments

Modernity is a Package

I have just started reading Leviathan 2.0, by Charles S. Maier. I could not find a Kindle edition when I was ordering the book. Here is a quote from p.5-6: The winners were the well-organized representatives of Europeans and their … Continue reading

Posted in books and book reviews, Economic History, Libertarian Thought | 5 Comments

Daniel Sarewitz on Bubbe-Meisis

He writes Technology keeps science honest. But for subjects that are incredibly complex, such as Alzheimer’s disease and criminal behavior, the connection between scientific knowledge and technology is tenuous and mediated by many assumptions — assumptions about how science works … Continue reading

Posted in Economic education and methods | 1 Comment


It is a Yiddish expression, meaning roughly “an old woman’s superstitions.” Here are three pieces of advice given to my daughter concerning the recent birth of our first grandchild that struck me as bubbe-meisis. 1. If the fetus is below … Continue reading

Posted in Economics of Health Care, PSST and Macro | 17 Comments

Common-law Banks

A commenter asks, What do you think of the limited purpose banking proposal advanced by Laurence Kotlikoff and others? Link to PDF: I am skeptical of the ability of government to design banks. It is one thing to write … Continue reading

Posted in Financial Crisis of 2008 | 6 Comments

A Sentence about Tetlock’s Famous Study

Jason Collins writes, However – and this point is one you rarely hear in commentary about the book – the experts outperform unsophisticated forecasters (a role filled by Berkeley undergrads), whose performance is truly woeful. Read the entire book review. … Continue reading

Posted in books and book reviews, Jason Collins is Indispensable | 3 Comments

Sentences from the comments

Education realist writes, High school is much harder. All that no excuses schools are doing, at best, is taking motivated kids, teaching them longer, and stuffing in enough information to get them test scores equivalent to the grade level of … Continue reading

Posted in Economics of Education | 13 Comments

What Was Glass-Steagall?

I don’t think that Robert Reich actually knows. Some argue Glass-Steagall wouldn’t have prevented the 2008 crisis because the real culprits were non-banks like Lehman Brothers and Bear Stearns. But that’s baloney. These non-banks got their funding from the big … Continue reading

Posted in Financial Crisis of 2008, Tyler Cowen is my Favorite Blogger | 7 Comments