Author Archives: Arnold Kling

Martin Gurri on the Trump Administration

He writes, It’s a zero-sum struggle for attention that rewards the most immoderate voices – and, without question, Donald Trump is a master of the game. His unbridled language mobilizes his anti-elite followers, even as his policies appeal to more … Continue reading

Posted in Politics | 19 Comments

Credit scoring and securitization

Amar Bhide writes, more than just soft information is lost when lenders rely on generic credit scores. Practical obstacles — and in some cases political considerations — exclude from the scores factors, such as income and education, that self-evidently affect creditworthiness. Moreover, score-based lenders, … Continue reading

Posted in financial markets | 4 Comments

Quotation of the Day

Politics also reflects the new division. In the United States suspicion or resentment is no longer directed to the capitalists or the merely rich. It is the intellectuals–the effete snobs–who are eyed with misgiving and alarm. This should surprise no … Continue reading

Posted in business economics, culture | 5 Comments

Resistance watch

Charles Cooke writes, Any network of self-driving cars would, by definition, necessitate total and unceasing tracking of their occupants. . . The car, far from serving as a liberator, would become a telescreen on wheels — an FBI-approved bug, to … Continue reading

Posted in technology and the future | 13 Comments

The clustering of the world

Razib Khan writes, Serbia has a much stronger affinity with Russia, Croatia is in Catholic Europe, while Slovenia seems more like Northern European nations than Croatia. You have to go read the whole thing. He discusses a cultural map of … Continue reading

Posted in culture, disaggregating the economy | 2 Comments

Patri Friedman on competitive government

Fifteen years ago, he wrote, Government service providers have monopolies over wide areas. Most people live in buildings and own lots of physical property. They are likely to have family and friends in the surrounding geographical area, and to work … Continue reading

Posted in Libertarian Thought | 8 Comments

My essay on financial bubbles

For Medium, I wrote on financial bubbles, with plenty of Bitcoin trolling thrown in. it is mathematically impossible for all of the bullish investors to get out with a profit. If a stock goes from $10 a share to $100 … Continue reading

Posted in behavioral economics, financial markets | 3 Comments

My review of Haskel and Westlake

The book is Capitalism without Capital. Recall that this is the one book that made both Tyler’s and my list of books of the year. I write, defending the use of a cost-based method to value intangible capital strikes me … Continue reading

Posted in books and book reviews, business economics, links to my essays | 4 Comments

New Year, old complaint about economists’ rhetoric

John Cochrane writes, It’s better to win on logic and fact and ignore motivation. Contrariwise, when you see an argument my motivation, which Austan made three times in as many sentences, you should infer that the arguer has neither fact … Continue reading

Posted in Economic education and methods | 4 Comments

Movie review: The Post

It is going to be one of my ten favorite movies of all time. I cried several times anticipating the outcome of tense scenes. The key is to let the movie transport you back to 1971. At that time I … Continue reading

Posted in Libertarian Thought | 9 Comments