Author Archives: Arnold Kling

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

Another rant about blockchain

Kai Stinchcombe writes, peer-to-peer interaction with no regulations, norms, middlemen, or trusted parties is actually a bad way to empower people. …A lawless and mistrustful world where self-interest is the only principle and paranoia is the only source of safety … Continue reading

Posted in Information Goods | 3 Comments

Jordan Greenhall on media and society

He writes, This is the formal core of the Blue Church: it solves the problem of 20th Century social complexity through the use of mass media to generate manageable social coherence. He argues that mass media facilitated a form of … Continue reading

Posted in Libertarian Thought | 14 Comments

Kevin Erdmann on U.S. housing supply

He writes, Just a few cities are at the heart of the housing supply problem, most notably New York City, Los Angeles, Boston, and San Francisco, which I refer to as Closed Access cities. There are two very different housing … Continue reading

Posted in disaggregating the economy, Housing and housing finance | 9 Comments

Try competing with Facebook

Tyler Cowen writes, I would instead start with the sentence “Most Americans don’t value their privacy or the security of their personal data very much,” and then discuss all the ways that limits regulation, or lowers the value of regulation, … Continue reading

Posted in business economics, Libertarian Thought, Tyler Cowen is my Favorite Blogger | 15 Comments

The libertarian non-moment (Kevin Williamson)

Kevin Williamson writes, But “libertarian” often means little more than “a person with right-leaning sensibilities who is embarrassed to be associated with the Republican Party.” (Hardly, these days, an indefensible position.) Libertarian sensibilities are popular because they enable the posture … Continue reading

Posted in Politics, Tyler Cowen is my Favorite Blogger | 9 Comments

Complex vs. Complicated

My latest essay. When I was a graduate student in economics in the late 1970s, we were trained as if the economy is complicated, but not complex. We were told that if we learned enough mathematics and statistics and applied … Continue reading

Posted in Economic education and methods, links to my essays | 5 Comments