Monthly Archives: October 2016

Tyler Cowen on Inequality

He writes (link is to enormous PDF file) if American productivity growth had not slowed after 1973, today the median household would earn $30,000 more each year. Alternatively, if income inequality had not accelerated after 1973, today the median household … Continue reading

Posted in income distribution-wealth-poverty, Tyler Cowen is my Favorite Blogger | 3 Comments

Cowen and Pinker: Two Moments

If I forget to put up a link, just Google for it. Tyler Cowen had a conversation with Steven Pinker. I found two moments interesting. 1. Tyler posed a scenario in which anyone with $10,000 could afford to blow up … Continue reading

Posted in Tyler Cowen is my Favorite Blogger | 6 Comments

A sentence from the comments

Too good to be left there. Far, far too often it isn’t society harnessing experts–it is experts harnassing society.

Posted in Libertarian Thought | 6 Comments

If David Cutler were an Entrepreneur

He would buy a hospital. Let me explain. The IGM forum polled economists to see if they agreed with this statement: Long run fiscal sustainability in the US will require some combination of cuts in currently promised Medicare, Medicaid and … Continue reading

Posted in business economics, Economics of Health Care, government debt crisis | 3 Comments

The Expert or the guy in the Bar?

Sebastian Mallaby writes, The saving grace of anti-expert populists is that they do discredit themselves, simply because policies originating from the gut tend to be lousy. …Democracy is strengthened, not weakened, when it harnesses experts. Read the whole essay, which … Continue reading

Posted in Libertarian Thought | Tagged | 17 Comments

Tyler Cowen on the Universal Basic Income

He writes, If two able-bodied people live next door to each other, and one works and the other chooses to live off universal basic income checks, albeit at a lower standard of living, I wonder if this disparity can last. … Continue reading

Posted in Setting Economic Priorities, Tyler Cowen is my Favorite Blogger | 12 Comments

Brad DeLong on Joel Mokyr’s New Book

DeLong writes, perhaps 10,000 well-educated Europeans thought of themselves as participants in the search for useful knowledge. Knowledge flowed between them and the tens of thousands of “trained engineers, capable mechanics, and dextrous craftsmen”, the (rather few) industrialist-inventors such as … Continue reading

Posted in books and book reviews, Growth Causes and Consequences | 16 Comments

Michael Mandel and Dietrich Vollrath on Manufacturing Productivity

Mandel writes, Since 1994, multifactor productivity has declined in nine out of 18 domestic manufacturing industries. And if domestic manufacturing can’t become more efficient, it will have a tough time competing in the global economy and an even tougher time … Continue reading

Posted in Growth Causes and Consequences, Mark Thoma is Indispensable | 2 Comments

Interventionism

Noah Smith writes, economists were more likely than the public to support the U.S. auto bailouts, by 58.6 percent to 52 percent. They were also more likely to support President Barack Obama’s economic stimulus bill, by 52.8 percent to 43.4 … Continue reading

Posted in Economic education and methods, Mark Thoma is Indispensable, Politics | 16 Comments

AT&T and Time-Warner

Tyler Cowen writes, it is hard to see where the efficiencies from the deal are supposed to come from That is an understatement. AT&T seems to have some combination of excess cash and ability to borrow at attractive interest rates. … Continue reading

Posted in business economics, Tyler Cowen is my Favorite Blogger | 11 Comments