Monthly Archives: March 2017

Banking vs. Transparency

Tri Vi Dang, Gary Gorton, Bengt Holmstrom. and Guillermo Ordonez write, banks produce private money because they can keep the information that they produce about backing assets secret. By being opaque, banks can produce bank money more efficiently. Opacity makes … Continue reading

Posted in financial markets | Comments Off

Applying Nondiscrimination to Markets

Mark J. Perry writes, Although workers outside the US are not protected by US civil rights laws, doesn’t “Buy America” legislation still make it legal to discriminate against workers in Mexico, China and Russia who make iron and steel by … Continue reading

Posted in Specialization and Trade Economics Intro | 17 Comments

Political Language Appropriation

A web site called Campus Reform reports, A conservative student at Orange Coast College has filed a civil rights violation report after a knife was found lying near hateful graffiti messages targeting him by name. . . “I am personally … Continue reading

Posted in Three-Axes Model | 15 Comments

Restrict Supply, Subsidize Demand

The Los Angeles Times reports, Home builders are not keeping up with demand for homes in California. There just aren’t enough homes being built relative to the growing number of households in California. What is the “solution” to this supply … Continue reading

Posted in Housing and housing finance, public choice | 9 Comments

design update

Let me know what you think of the new design. The only substantive change so far is that I have added a way to subscribe to posts by email. Thanks to the reader who suggested this. One of these days, … Continue reading

Posted in Blog and Comment policy and philosophy | 8 Comments

Let me Complain

about this reported study, which found that the employees who complained about work were pretty bummed out as a result. In diary entries, they reported feeling crummy and dissatisfied with their work. The study makes it sound as if the … Continue reading

Posted in business economics | 4 Comments

Improving Government Operations 2: Re-organization

One way to improve government operations would be through re-organization. I once wrote, the total number of executive entities is 157. I cannot think of any corporation in which the CEO has so many direct reports. This number ought to … Continue reading

Posted in business economics | 11 Comments

Improving Government Operations 1: Task Forces vs. Agencies

The WaPo reported, President Trump plans to unveil a new White House office on Monday with sweeping authority to overhaul the federal bureaucracy and fulfill key campaign promises — such as reforming care for veterans and fighting opioid addiction — … Continue reading

Posted in business economics | 3 Comments

Jonathan Parker Discusses Financial Behavior

In an interview format with Aaron Steelman. Pointer from Timothy Taylor. Interesting throughout. A few tidbits: people don’t spend the money the week before it shows up — they spend it the week it shows up. And it seems like … Continue reading

Posted in behavioral economics, income distribution-wealth-poverty, Timothy Taylor is my Favorite Blogger | 8 Comments

The Cultural Roots of America’s Health Care Policy Mess

1. The American middle class does not believe in saving up for health care expenses. The idea that you should have $10,000 – $15,000 set aside for the occasional acute medical episode is abhorrent. The idea that you should save … Continue reading

Posted in Economics of Health Care | 33 Comments