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==> Tom Woods has some great material (cribbed from Jeff Herbener) on the claim that the recovery from the 1920-21 depression was merely caused by loose monetary policy. Just to clarify, no Austrian is denying that the Fed inflated during the 1920s and that the “Roaring Twenties” was partially built on an unsustainable illusion. After […]
Read moreEmanuel Derman FTW
Tyler Cowen linked to this symposium in the Guardian on Piketty’s success. Emanuel Derman’s response is awesome; here’s the latter half: [Economists] can’t agree on the efficacy of money printing or austerity. They keep changing their minds every few years about conventional wisdom while at every instant appearing to be certain that they are right. […]
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==> S4L response to Piketty. ==> So the government has been caught repeatedly lying about the extent of its NSA activities. I’m shocked. ==> Krugman has already explained that people oppose ObamaCare because they hate poor people. In this post he clarifies: It’s specifically poor *black* people the critics want to get sick and die. […]
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==> My new Mises CA post catches NPR sounding surprisingly Rothbardian. They need Gene Callahan to vet their broadcasts. ==> Vijay Boyapati discusses his view of Austrian monetary theory and Bitcoin. ==> I know this can’t possibly lend credibility to the people saying the US government has been experimenting with weather control, but anyway… ==> […]
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==> My latest Mises CA blog post goes back to the issue of “productivity” versus labor compensation. ==> Cory Massimino also opposes the shooting of cops in pizza places. ==> Rognlie has the longest “Note” you’ve ever seen, dissecting Piketty’s argument in terms of estimates of elasticity from the literature. ==> This Noah Smith post […]
Read moreNo, We’re Not Inventing 1973 as the Starting Point for “Income Inequality” Stats
Judging from the comments in a previous post, you’d think that Dave Howden made up the idea that income inequality starting rising in 1973. No, that’s the low point, using the Piketty-Saez figures. Howden didn’t pick that number, progressives typically do when quoting figures. Just from a quick one that I googled: As Isabel Sawhill […]
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==> Bryan Caplan points out a problem with the stand-up economist’s cartoon introduction to climate change. ==> If you’re a fan of musician Tatiana Moroz, I encourage you to check out her “TatianaCoin” project. It’s an interesting way for fans to crowdfund artists using altcoins. ==> Phillip Magness summarizes outstanding data problems with Piketty. ==> […]
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==> The Detroit authorities are threatening to seize a billionaire hedge fund manager’s goats, which are grazing on land that the authorities claim is public. Bundy Ranch 2.0? (Just kidding. And it’s Mark Spitznagel.) ==> Richard Ebeling discusses the wisdom of Adam Smith. ==> An awesome photo of Milton Friedman and very young David R. […]
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