background preloader


Facebook Twitter

Alasdair MacIntyre as an Aristotelian Economic. Cajetans Economic Treatises A Critique o 41080071. Roland G. Fryer, Jr. . .

Roland G. Fryer, Jr.

Working Paper. This paper describes randomized field experiments in eighty-four urban public schools in two cities designed to understand the impact of aligned incentives on student achievement. In Washington DC, incentives were “horizontal” – provided to one agent (students) for various inputs in the education production function (i.e. attendance, behavior, interim assessments,homework, and uniforms). In Houston, TX, incentives were “vertical” – provided to multiple agents (parents, teachers, and students) for a single input (math objectives). Car Seats as Contraception by Jordan Nickerson, David H. Solomon. Managerialism and Civil Service. I have a pretty concrete institutional theory for why the United States, and to some extent the rest of the Anglosphere, lags in infrastructure.

Managerialism and Civil Service

How Wrong Were the Models and Why? – AIER. Phillip W.

How Wrong Were the Models and Why? – AIER

Magness – April 23, 2020 The epidemiology models used to justify and extend the ongoing coronavirus lockdown are starting to come under much-needed scholarly scrutiny. A new working paper published by the National Bureau of Economic Research (NBER) presents a detailed statistical examination of several influential models, and particularly the study out of Imperial College-London (ICL) that famously predicted up to 2.2 million COVID-19 deaths in the United States under its most extreme scenario. Economics : Chen Lian. Research Papers Job Market Paper Consumption with Imperfect Perception of Wealth, October 2019Abstract: Consumers have difficulty tracking their total wealth, or keeping it at the forefront of their minds when making consumption and saving decisions.

Economics : Chen Lian

In this paper, I show how such imperfect perception of wealth can explain several key deviations of consumption behavior from the permanent income hypothesis, including: excess sensitivity to current income, smaller MPCs out of wealth than out of current income, and excess discounting of future income. My approach provides a behavioral complement to canonical liquidity-constraint-based theory. 'Remarkable' decline in fertility rates. Image copyright Getty Images There has been a remarkable global decline in the number of children women are having, say researchers.

'Remarkable' decline in fertility rates

Their report found fertility rate falls meant nearly half of countries were now facing a "baby bust" - meaning there are insufficient children to maintain their population size. The researchers said the findings were a "huge surprise". Reclaiming Virtue Ethics for Economics. Eugenics and Economics in the Progressive Era.

How Likely Is Your Industry to Be Disrupted This 2×2 Matrix Will Tell You. Pennsylvania Paper Currency (1) Contra Acton – A Sampling – Opus Publicum. The Inconvenient Truth Behind Donald Trump's Victory. Catholics and Libertarian Economics: A Reply to Samuel Gregg. 3 Simple Charts That Help Explain Why 9,000 Businesses Have Left California In Just 7 Years. We recently came across some simple charts from the Tax Foundation that simply and effectively illustrate why businesses are fleeing states like California by the 1,000s.

3 Simple Charts That Help Explain Why 9,000 Businesses Have Left California In Just 7 Years

In the first chart, the Tax Foundation presents data from The Bureau of Economic Analysis to compare purchasing power of $100 depending which state you live in. Ironically, the map turned out to look eerily similar to recent electoral college maps of Presidential elections with the Democrat-leaning northeast and west coast areas getting less bang for their buck compared to the southeast and mid-west. Could it be that rather than voting their desires to cling to "guns and religion," to quote President Obama, that Americans in the southeast and mid-west are actually voting to preserve a higher standard of life that doesn't require them to spend $2mm on an 800 square foot apartment? Consumer Prices Have Soared 160% Since 2001. Our real-world experience tells us the official inflation rate doesn't reflect the actual cost increases of everything from burritos to healthcare.

Consumer Prices Have Soared 160% Since 2001

In our household, we measure inflation with the Burrito Index: How much has the cost of a regular burrito at our favorite taco truck gone up? Since we keep detailed records of expenses (a necessity if you’re a self-employed free-lance writer), I can track the real-world inflation of the Burrito Index with great accuracy: the cost of a regular burrito from our local taco truck has gone up from $2.50 in 2001 to $5 in 2010 to $6.50 in 2016. The Federal Reserve's Grand Scheme Exposed (In 1 Simple Chart)

For 138 years, consumer prices in America slightly declined.

The Federal Reserve's Grand Scheme Exposed (In 1 Simple Chart)

After The Federal Reserve was created, things changed... Center for Strategic and International Studies. When Narratives Go Bad. A fable for our times, the ultimate disposition of extraordinary monetary policy.

When Narratives Go Bad

Bad news is good news until bad news is all we know. Global growth is the wife. The idea of negative interest rates strikes many people as odd. Economists are less put off by it. … The anxiety about negative interest rates seen recently in the media and in markets seems to me to be overdone. Logically, when short-term rates have been cut to zero, modestly negative rates seem a natural continuation; there is no clear discontinuity in the economic and financial effects of, say, a 0.1 percent interest rate and a -0.1 percent rate. – Former Fed Chair Ben Bernanke, "What Tools Does the Fed Have Left?”

Scathing New Report Shows Just How Bankrupt Social Security Really Is. Submitted by Simon Black via, Last week, a group of analysts published an astonishing report about the future of Social Security in the United States, and their remarks were nothing short of damning.

Scathing New Report Shows Just How Bankrupt Social Security Really Is

According to their calculations, for example, these analysts claim that Social Security is already running a huge deficit to the tune of tens of billions of dollars each year. In fact, this Social Security funding deficit has been taking place for several years now, and it’s actually accelerating. So the problem worsens each year. According to the analysis, the astounding rise in Social Security recipients vastly outpaces any growth in tax revenue received into the program. The report goes on to describe Social Security’s two main trust funds, OASI (for ‘Old Age Survivors Insurance’) and DI (‘Disability Insurance’). This Was Obvious in 2010 and Stated Explicitly Last March - The Euro, Stick a Fork In it, Its Just About Done! So, Brexit. And... Czexit, Pexit, Frexit as EU referendum CONTAGION sweeps Europe amid political quake. We Optimize What We Measure.

Rather than measure consumption and metrics that incentivize debt, what if we measure well-being and opportunities offered in our communities? The problems we face cannot be fixed with policy tweaks and minor reforms.Yet policy tweaks and minor reforms are all we can manage when the pie is shrinking and every vested interest is fighting to maintain their share of the pie. Our failure stems from a much deeper problem: we optimize what we measure. If we measure the wrong things, and focus on measuring process rather than outcome, we end up with precisely what we have now: a set of perverse incentives that encourage self-destructive behaviors and policies. The process of selecting which data is measured and recorded carries implicit assumptions with far-reaching consequences.

The Source of Failure: We Optimize What We Measure. Submitted by Charles Hugh-Smith of OfTwoMinds blog, Rather than measure consumption and metrics that incentivize debt, what if we measure well-being and opportunities offered in our communities? The problems we face cannot be fixed with policy tweaks and minor reforms. Usury FAQ, or, money on the Pill. “Are we not ashamed to pay usury? Not contented within the limits of our own means, we do by giving pledges and entering into contracts, fabricate the yoke of our slavery.” – Plutarch Some of my usury sources We exhort you not to listen to those who say that today the issue of usury is present in name only, since gain is almost always obtained from money given to another.

How false is this opinion and how far removed from the truth! Sam Gregg of ACTON on medieval distinctions about usury and legitimate forms of money-lending. 101 YEARS OF THE INCOME TAX. The School of Salamanca (Grice Hutchinson) INFOGRAPHIC: Keynesian vs. Austrian Economics. Visualizing The Greatest Economic Collapses In History. The very first major economic collapse in recorded history occurred in 218-202 BC when the Roman Empire experienced money troubles after the Second Punic War. The Catholic and the Modern Loss of Purpose - Ethika Politika. There Goes The Final Pillar Of The US "Recovery": The Loan-Growth Paradox Explained. Usury and Titles to Interest. It's usually thought that the traditional notion of usury was that of lending out money at interest. Federal Spending: Where Does the Money Go. Shadow Government Statistics - Analysis Behind and Beyond Government Economic Reporting.

Chinese Devaluation Extends To 3rd Day - Yuan Hits 4 Year Low, Japan Escalates Currency Race-To-The-Bottom Rhetoric. Global Research - Centre for Research on Globalization. China’s Record Dumping Of US Treasuries Leaves Goldman Speechless. On Friday, alongside China’s announcement that it had bought over 600 tons of gold in “one month”, the PBOC released another very important data point: its total foreign exchange reserves, which declined by $17.3 billion to $3,694 billion. Risk Experts Who Predicted 2008 Financial Crash Believe GMOs To Be Riskier Than 2008 Crash. What's Wrong with Weapons Acquisitions? 38 maps that explain the global economy. Redistributing from Capitalists to Workers: An Impossibility Theorem.

Leopold Kohr: Prophet of a Coming Decentralization? The Scholastics, Usury, and Foreign Exchange. The Major Contributions of the Scholastics to Economics. Misunderstanding Subsidiarity - The Catholic ThingThe Catholic Thing. A Quick Economics Lesson. The Economics of Obamacare (Part 3): Understanding the Lessons of Medicare. The Economics of Obamacare (Part 1): The Implications for Health Care Investing. The Economics of Obamacare (Part 2): Analyzing the U.S. Health Insurance System. FUNDAMENTOS DE ECONOMIA: LA ESCOLASTICA. Las principales contribuciones de la escolástica a la economía. Daily. Why Does Fiat Money Seemingly Work? Economic Law and Catholic Social Doctrine, Part One.

The liquidity timebomb - monetary policies have created a dangerous paradox. Use Values and Corn Laws, Aristotelian Marxists and High Tories. $5 Trillion Price Tag for Public Pensions. Let Them Eat Diversity.