Monthly Archives: April 2018

Responses to some comments

Some people insist that there is still a working class. For example, Capitalists are those who obtain a majority of their incomes from capital (interest, dividends, capital gains, profits). Workers are those who can reasonably expect to get a majority … Continue reading

Posted in Uncategorized | 8 Comments

The Internet is not what it was

My latest essay is on the decline of the Internet. In 1993, I did not picture people having their online experience being “fed” to them by large corporations using mysterious algorithms. Instead, I envisioned individuals in control, creating and exploring … Continue reading

Posted in Internet governance and political theory, technology and the future | 9 Comments

Metrics meet the Null Hypothesis

From a podcast with Russ Roberts and Jerry Muller: what’s so striking when you read through a lot of this literature on pay-for-performance and standardized measurement combined with pay-for-performance is: How often the scholarly literature shows, in a variety of … Continue reading

Posted in Economics of Education | 11 Comments

Demonizing those who disagree

C Thi Nguyen writes, An ‘echo chamber’ is a social structure from which other relevant voices have been actively discredited. Where an epistemic bubble merely omits contrary views, an echo chamber brings its members to actively distrust outsiders. In their … Continue reading

Posted in Three-Axes Model | 16 Comments

Were mortgage securities badly mis-rated?

Juan Ospina and Harald Uhlig write, AAA securities did ok: on average, their total cumulated losses up to 2013 are 2.3 percent. . .Losses for other rating segments were substantially higher, e.g. reaching above 50 percent for non-investment grade bonds. … Continue reading

Posted in Financial Crisis of 2008, financial markets, Housing and housing finance | 19 Comments

The solar exponential

In his regular email, Peter Diamandis writes, Currently, the amount of solar installed each year increases by 35 to 40 percent. …One megawatt of solar power is estimated to require 8 acres of land. U.S. solar capacity is on the … Continue reading

Posted in energy and the environment | 16 Comments

Imperfect business management

Alex Tabarrok writes, management matters and it matters in systematic and fairly easy to replicate ways. If mis-measurement explained productivity differences, Lemonis would not be able to successfully turn firms around. But he can and does. How? Mainstream economics starts … Continue reading

Posted in business economics | 7 Comments

What do we mean by ‘working class’?

William Galston provides highlights from a Pew survey of how party support has shifted over the past twenty years. He writes, Democrats’ advantage in urban counties has shot up from 18 to 31 points, while Republicans have gone from a … Continue reading

Posted in labor market, Politics | 13 Comments

Evan Williams on media business models

He writes, The reason quality — of content and experience — has gone down in publishing, not up, despite the power of competition and technology, is because publishers are competing for advertiser dollars, not audience dollars. Business model is gravity. Once publishers are competing … Continue reading

Posted in business economics, links to my essays | 6 Comments

Mental Transaction Costs

I have a new essay on mental transaction costs. Perhaps consumers are ignorant about health care prices for a reason. When it comes to relieving pain and suffering, we do not want to take on the task of deciding between … Continue reading

Posted in business economics | Tagged , , , | 9 Comments