Category Archives: Mark Thoma is Indispensable

Heterodox introductory economics

Samuel Bowles and Wendy Carlin write, The Economy takes on board the fundamental innovations of Hayek and Nash used in contemporary economics research. But concerns about climate and other market failures as well as economic instability provide reasons to doubt … Continue reading

Posted in Introductory Economics, Mark Thoma is Indispensable | Tagged , | 5 Comments

A notewriter on public choice

He or she writes, Unlike providing pure public goods or setting generally applicable laws, the more widely accepted function of the state, the direct provision of goods and services can impact on people’s personal wealth and satisfaction in much more … Continue reading

Posted in Mark Thoma is Indispensable, public choice | 5 Comments

Occupation and Gender

Justin Fox writes, If you are one of those who believe that men are congenitally disposed to prefer working with things and women to prefer working with people, these numbers offer some support for your position. Some support? If you … Continue reading

Posted in labor market, Mark Thoma is Indispensable | 16 Comments

From Prosperity to Poverty

Ricardo Hausmann writes, Income poverty increased from 48% in 2014 to 82% in 2016, according to a survey conducted by Venezuela’s three most prestigious universities. The same study found that 74% of Venezuelans involuntarily lost an average of 8.6 kilos … Continue reading

Posted in Mark Thoma is Indispensable, Tyler Cowen is my Favorite Blogger | 8 Comments

CBO under attack

Marc Short and Brian Blase write, The CBO’s methodology, which favors mandates over choice and competition, is fundamentally flawed. As a result, its past predictions regarding health-care legislation have not borne much resemblance to reality. Its prediction about the Senate … Continue reading

Posted in Economic education and methods, Economics of Health Care, Mark Thoma is Indispensable | 15 Comments

Peter Turchin on mathematical modeling

He writes, Models clarify the logic of hypotheses, ensure that predictions indeed follow from the premises, open our eyes to counterintuitive possibilities, suggest how predictions could be tested, and enable accumulation of knowledge. The advantage of clarity that mathematical models … Continue reading

Posted in Economic education and methods, Mark Thoma is Indispensable | 9 Comments

Wal-Mart and Banking, Once Again

Lawrence J. White writes, it is exactly this demographic group—low- and moderate-income households—that is most in need of reasonably priced financial services. The percentage of U.S. households that are unbanked (i.e., do not have a bank account) or underbanked (i.e., … Continue reading

Posted in business economics, Mark Thoma is Indispensable | 19 Comments

The problem of overconfidence

Chris Dillow writes, overconfidence can be a form of strategic self-deception. A new paper by Peter Schwardmann and Joel van der Weele shows this. They got subjects to do intelligence tests and then selected some at random and told them … Continue reading

Posted in behavioral economics, Mark Thoma is Indispensable | 6 Comments

When to break up the big banks

Stephen G. Cecchetti and Kermit L. Schoenholtz write, From our perspective, by raising the odds of an effective resolution, FIBA (as a complement to Dodd-Frank) boosts the credibility of the U.S. regime. Over time, foreign regulators also may be reassured … Continue reading

Posted in Financial Crises, Mark Thoma is Indispensable | 7 Comments

The Labor Share Story

Noah Smith writes, There are, by my count, now four main potential explanations for the mysterious slide in labor’s share. These are: 1) China, 2) robots, 3) monopolies and 4) landlords. Pointer from Mark Thoma. Smith’s essay is a useful … Continue reading

Posted in income distribution-wealth-poverty, Mark Thoma is Indispensable | 13 Comments