Archive for Education

“Liberty Classroom” Master Subscription BONUS for U.S. Residents

Hey boys and girls, if you’ve always wanted to subscribe to Tom Woods’ Liberty Classroom but have been hesitating to pull the trigger, now’s your chance. If you subscribe to the MASTER membership anytime during November 2018, then in addition to all the great benefits you get from Tom, I’ll send you any two (2) […]

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Average Duration of Unemployment

Here’s another good one: Wait wait, don’t tell me guys: This is actually a sign of progress, because when people got laid off in the late 2000s, they could amuse themselves quite cheaply by playing the free version of Angry Birds. (In case you are baffled by my comment: People in the comments of my […]

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Assessing the Labor Market

Check out the chart below. I am forming my own views but I’m curious to get reactions from you folks. I think it is extremely misleading to simply use the unemployment rate as an indicator for the health of the labor market. Note that the civilian-employment ratio is (obviously) not the same thing as the […]

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I Guess Robert Reich Doesn’t Read Cowen and Tabarrok

…because he’s apparently unaware of the Marginal Revolution. Zing! My latest at Mises CA: If I still haven’t convinced you, consider it this way: Why stop at education? Surely food and clothing are even more important than formal schooling. So how does the pay of migrant farm and textile workers compare to schoolteachers in the […]

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The Difference Between Physics and Economics

Pay attention to the way he teaches the class about conservation of mechanical energy starting around 1:45. If an economist did something comparable in class, he would be killed in front of his students. But they would still clap.

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Larry Summers: Artificially Low Interest Rates Cause Bubbles

Tyler Cowen finds this quotation from Larry Summers writing in the Washington Post: The second strategy, which has dominated U.S. policy in recent years, is lowering relevant interest rates and capital costs as much as possible and relying on regulatory policies to ensure financial stability. No doubt the economy is far healthier now than it […]

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Memorial Video for the “Night of Clarity” 2013

Matt Harris (with help from wife Pacey) put together this excellent memorial of the event Carlos Lara and I hosted last summer in downtown Nashville. Stay tuned for the NOC 2014!

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Two Kitten Torturing Models of Wage Differentials

Suppose you read a blog post that started like this: It is well known that if you run a regression analysis of wages, you will find that if a person tortured kittens as a teenager, then he or she will have significantly lower earnings in the marketplace. Now there are two schools of thought when […]

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