Pertinent Category: Daily Economy

It’s Time to Discard Piketty’s Inequality Statistics

– November 28, 2023

“As the study and measurement of inequality progresses, Piketty’s (and his team’s) main estimates have become obsolete and might be properly consigned to the field of the history of economic thought.” ~Phil Magness & Vincent Geloso

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The Red Pill for Pill Ad Headaches

– November 28, 2023

“Suppose all Americans and Kiwis look to their own self-interest by avoiding advertised drugs whenever possible. In that case, drug manufacturers would have an incentive to stop DTCA of their own accord.” ~Robert E. Wright

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The Miracles of Human Cooperation Are Hidden in Plain Sight

– November 27, 2023

“Humans cooperate and communicate in miraculous ways through the mechanism of the price system. If you believe someone must be in charge of coordinating human action, you will never notice the marvels all around you.” ~Barry Brownstein

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Thinking About the Regulation of Industrial Emissions Differently, Part II

– November 27, 2023

“All we know here is that humans are innovative and have a great capacity to creatively meet challenges without being prodded by politicians or mandarins. But no one can predict in detail how this creativity will manifest itself.” ~Donald J. Boudreaux

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Revisiting the Argument that Government is Too Small

– November 26, 2023

“A balanced rebuttal to false and misleading claims will tend to be ineffective at reaching voters, which in turn makes deceptive political advertising more successful, over-expanding government.” ~Gary M. Galles

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Garbled Economics in the WSJ on Argentina Dollarization

– November 26, 2023

“Dollarization may not be the first-best solution for Argentina, though it’s hard to imagine it will be worse than hyperinflation.” ~Jason Sorens

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Hyperinflation and Dollarization: A Path to Economic Stability for Argentina

– November 25, 2023

“The risk of hyperinflation in Argentina does not arise from the intention to dollarize but from a central bank that appears incapable or unwilling to exercise restraint. Argentina’s historical record shows that central bank independence is absent.” ~Nicolas Cachanosky

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Politicians’ Job Training and College Sales Pitch is Snake Oil

– November 25, 2023

“Are job training programs actually providing useful training to the people affected by foreign trade? Don’t ask lawmakers. They’d prefer that people give them credit for the intent and ignore questions about outcomes.” ~James M. Hohman

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Johan Norberg’s The Capitalist Manifesto: A Review

– November 24, 2023

“What matters for the capitalist story to flourish is that its effect on the world continues to be positive, not whether market actors believe it while embodying its principles.” ~Joakim Book

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Timiraos on Supply-Side Disinflation

– November 24, 2023

“Slowing down total spending growth (current-dollar GDP) by hiking interest rates and shrinking the balance sheet clearly mattered. Supply-side improvements do too, but they’re likely playing the role of the sidekick rather than the hero.” ~Alexander W. Salter

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Thankful for the Lessons of Failures

– November 23, 2023

“Plymouth was a centrally planned community. Everything was controlled, regulated, and rationed by one central government authority. And like all central planning efforts, the results were scarcity, hunger, and desperation.” ~Thomas Krannawitter

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Black Friday 2023 Will Test Consumer Confidence

– November 23, 2023

“Although Black Friday is a day of discounts, rebates, and other sales promotions, examining the price changes in the most-marketed merchandise categories may provide some insights as to what consumers face this year.” ~Peter C. Earle

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