Category Archives: PSST and Macro

Nathan Smith

On Facebook, he writes, The most overrated economist in the world is Daron Acemoglu; the most underrated may be Arnold Kling. For years, I’ve been getting more and more disillusioned with economics, as the noise of pointless rent-seeking “publications” (the … Continue reading

Posted in Specialization and Trade Economics Intro | 3 Comments

Debating Daniel Jelski

He criticized my moonshot essay in which I attacked neoclassical economics. I appreciate that he took the time to read it and consider it seriously. But I want to reply to two of his points. 1. He writes, My old … Continue reading

Posted in links to my essays, Specialization and Trade Economics Intro | 8 Comments

A moonshot to overthrow neoclassical economics

Tyler Cowen gave me an idea. He described his personal moonshot. He wrote, My goal is to be the economist who has most successfully used the internet as a platform to foment broad enlightenment. He elaborates on this, creating a … Continue reading

Posted in links to my essays, Specialization and Trade Economics Intro, Tyler Cowen is my Favorite Blogger | 6 Comments

The case against policy analysts

Robin Hanson writes, On the other side, however, are most experts in concrete policy analysis. They spend their time studying ways that schools could help people to learn more material, hospitals could help people get healthier, charities could better assist … Continue reading

Posted in books and book reviews, Libertarian Thought, Specialization and Trade Economics Intro | 12 Comments

Disaggregating the economy: California

Carson Bruno wrote, between 2009 and 2014, the Silicon Valley metro areas – a region that accounts for just 1/5th of the state’s population – accounted for 50% of California’s private industry real GDP growth. Steve Baldwin adds, a far … Continue reading

Posted in disaggregating the economy, PSST and Macro | 27 Comments

Disaggregating the economy: product scanner data

David Argente, Munseob Lee, and Sara Moreira write, In this paper, we exploit detailed product- and firm-level data to study the sources of innovation and the patterns of productivity growth in the consumer goods sector over the period 2006Q3–2014Q2. Using … Continue reading

Posted in disaggregating the economy, PSST and Macro | 7 Comments

Economic segmentation

Jerry W. Thomas wrote, What is market segmentation? At its most basic level, the term “market segmentation” refers to subdividing a market along some commonality, similarity, or kinship. That is, the members of a market segment share something in common. … Continue reading

Posted in PSST and Macro | 4 Comments

The Servant Aggregators

Several years ago, I asked, In an economy where some folks are very rich and many folks are unemployed, why are there not more personal servants? Recently, someone pointed me to Umair Haque’s column from two years ago. I’m going … Continue reading

Posted in business economics, Growth Causes and Consequences, PSST and Macro | 12 Comments

The Elastic Economy and the Great Moderation

Alex Tabarrok writes, Since the great recession ended, growth in real GDP has been much less volatile than in the 1950s to 1980s. Indeed, volatility has been lower even taking into account the great recession. He goes on to point … Continue reading

Posted in Economic History, PSST and Macro | 6 Comments

Corporate tax cuts, math, and intellectual swindles

John Cochrane writes, Each dollar (per worker) of static tax losses raises wages by [more than one dollar] It’s always greater than one… A number greater than one does not mean you’re a moron, incapable of addition, a stooge of … Continue reading

Posted in Economic education and methods, Mark Thoma is Indispensable, PSST and Macro | Tagged | 8 Comments