Archive for Economics
A Policy Proposal That All Economic Schools of Thought Should Prefer to the Status Quo
[UPDATES in the middle and then at the end.] Once again, Nick Rowe has argued that according to the very model that Paul Krugman claims to be using–and I mean here, the full-blown model with intertemporal optimization, not the cruder IS/LM model that Krugman thinks gives surprisingly good policy recommendations, using the full-blown model as […]
Read moreKrugman: Failed Apocalyptic Predictions Are Laughable, Unless They Support Bigger Government
Not his exact words, mind you. Krugman in his November 7 review of William Nordhaus’ new book on climate change economics: Forty years ago a brilliant young Yale economist named William Nordhaus published a landmark paper, “The Allocation of Energy Resources,” that opened new frontiers in economic analysis…. For if one looks back at “The […]
Read moreSpanx Founder Sara Blakely Sounds Like the American Dream
I’m sure naysayers will find some reasons to poke holes in the story being presented, but this is how free enterprise is supposed to work:
Read moreWithout Government, Who Would Give Us Traffic Jams?
In a previous post, I noted with irony that Eugene Fama listed roads matter-of-factly as an example of where government spending could be quite productive. In case some readers don’t understand, this is funny to Internet anarcho-capitalists, since a popular meme for us is, “Who Will Build the Roads?” I had asked if anybody knew […]
Read moreIf You’re Not Outraged, You Haven’t Been Reading Scott Sumner’s Blog
This post title is misleading, but I couldn’t think of anything wittier. Scott Sumner calmly discusses reflections from Miles Kimball and says this: In another paper, Kimball spells out the credit policy in more detail. It might involve the government giving each American a credit card with a $2000 credit limit. This is certainly better […]
Read moreThe Debt Ceiling and Default
A video version of the stuff I’ve been blogging about here. Note that I recorded this before news of the deal. And remember, my course on “Basics of Economics” starts today!
Read morePotpourri
==> The observant von Pepe sends this CFR critique of Krugman. ==> If I do say so myself, I think I had a nice example in this post to illustrate a problem with the EPA’s cost/benefit procedures. (It involves changing the oil on 18-wheelers, for those who saw my inquiry on Facebook.) ==> Amanda Billyrock […]
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