Category Archives: public choice

Teleological political theory

Timothy Taylor writes, It can be hard for group with weak hierarchies to make decisions. Group members need to find a balance between making their own contributions in some areas but acquiescing to the group in others. To make this … Continue reading

Posted in public choice, Timothy Taylor is my Favorite Blogger | 10 Comments

High Fixed Costs and Public Goods

The June 2017 issue of Cato Unbound looks at how the private sector could provide public goods. It considers the idea of what Alex Tabarrok calls a Dominant Assurance Contract. Alex writes, The dominant assurance contract adds a simple twist … Continue reading

Posted in business economics, Libertarian Thought, public choice | Tagged , | 11 Comments

Title Insurance, Blockchain, and Reality

A reader points me to this report from Goldman Sachs, from last year, on applying Blockchain to title insurance. We estimate that blockchain could drive cost savings of approximately $2 – $4bn as a result of reductions in headcount and … Continue reading

Posted in public choice | 8 Comments

Restrict Supply, Subsidize Demand

The Los Angeles Times reports, Home builders are not keeping up with demand for homes in California. There just aren’t enough homes being built relative to the growing number of households in California. What is the “solution” to this supply … Continue reading

Posted in Housing and housing finance, public choice | 9 Comments

Empirical Public Policy

James R. Barth and Stephen Matteo Miller write, Testing whether it is good policy to increase bank capital requirements from 4 percent to 15 percent requires calculating and comparing the benefits and costs of such a change. Across all tested … Continue reading

Posted in financial markets, public choice | 6 Comments

Sugar and the Kling Public Choice Theory

Glenn Reynolds writes, Government policies promoting sugar, in no small part, got us into this mess. Without the government’s recommendations to avoid dietary fat that led to increased sugar consumption, many Americans would probably be thinner, or at least less … Continue reading

Posted in public choice | 2 Comments

Montgomery County (Md) Politics

A commenter asks, You’ve mentioned many times that Montgomery is owned part and parcel by the teacher’s unions. . .what aspects of county government do they control, and how? Don’t take my word for it. Take theirs. “It was the … Continue reading

Posted in Economics of Education, public choice | 49 Comments

The Economics of a Border-Adjustment Tax

Timothy Taylor writes, Most countries around the world and all high-income countries other than the United States have “border adjustments” in their tax code, but a key point to recognize is that border adjustments are typically part of a value-added … Continue reading

Posted in Introductory Economics, public choice, Timothy Taylor is my Favorite Blogger, Tyler Cowen is my Favorite Blogger | 6 Comments

The Demand for a Shaman

From my review of a recent book by Sandra Peart and David Levy. I am more concerned with the Shaman problem. Given a choice between an economist who claims to have a low-cost solution to a problem and an economist … Continue reading

Posted in books and book reviews, public choice | 6 Comments

Noah Smith on Higher Education Policy

He writes, As long as the number of available college spots remains roughly fixed, reducing the price of college will have only a very modest effect in creating broad-based economic opportunity. My recommended solution is to focus on increasing the … Continue reading

Posted in Economics of Education, Mark Thoma is Indispensable, public choice | 20 Comments