Bryan Caplan and David Henderson

January 2008

A Monthly Archive (95 entries)

Economics in the Classroom

Economics of Education
Arnold Kling
An anonymous teacher says, I was desperate -- every day I went home feeling like I was escaping a war zone -- and so I set up a classroom economy, a variant of what the behaviorists call "token reinforcement." I... MORE

Economic Communication Prize

Economic Education
Bryan Caplan
Are you a great but untenured communicator of economic ideas? If so, here's a contest you should seriously consider entering. Good luck!... MORE

Health Care and Organization

Business Economics
Arnold Kling
Russ Roberts writes, Within a firm and within a family, resources and decisions get made without prices and often without profits. The answer (as Coase understood and as Lauren notes in her comment) is that in these organizations, the savings... MORE

Arnold on Atlas: Where's He Right, Where He's Wrong

Books: Reviews and Suggested Readings
Bryan Caplan
Arnold has just read my favorite novel. Here's my reaction to his reaction:What I like is the "in your face" defense of businessmen and the unremitting attack on the "looters" of government. Rand is uncanny in her depiction of government... MORE

Tyler Cowen Cheers Democracy

Institutional Economics
Arnold Kling
He writes, unlike one of my esteemed colleagues, I believe that we should revere democracy as one of the modern world's greatest achievements... Democracy is pretty good at pushing scoundrels out of office, or checking them once they are in... MORE

The Massachusetts Health Care Tar-baby

Economics of Health Care
Arnold Kling
Shikha Dalmia writes, The state health-care bill for fiscal 2008-2009 is expected to touch $400 million -- 85% more than originally projected. Still the state won't be able to fully shield those it subsidizes from the premium increases. But uninsured... MORE

Two Dismal Books

Books: Reviews and Suggested Readings
Arnold Kling
Atlas Shrugged, by Ayn Rand and The Dismal Science by Stephen Marglin... MORE

Tax Cuts Under Price Controls

Price Controls
Bryan Caplan
Yesterday I was explaining Singapore's clever approach to fiscal stimulus to Russ Roberts at lunch. During the explanation, I realized that I should probably back up and explain how tax cuts works in markets with price controls. But since I... MORE

My Ongoing Frustration

Economics of Health Care
Arnold Kling
I'm back home, a thousand miles away from my father. But he had another setback, and he is back in the main hospital. I am not expecting any miracles. I know that the clock has been ticking ever since his... MORE

Writers' Strike Brings Great Writing to Network TV

Economics and Culture
Bryan Caplan
A strange unintended consequence of the writers' strike: Dexter is coming to network TV! Given the shortage of programming, CBS worked out a deal with Showtime to air the controversial, beautifully written series. Of course there's going to be some... MORE

The Government Health Care System

Economics of Health Care
Arnold Kling
My latest essay: Medicare is wonderful for relieving the elderly from the burden of worrying about health care expenses. By the same token, it is wonderful for relieving doctors of the burden of worrying about the elderly as customers. You... MORE

Some Wishful Prizes

Political Economy
Arnold Kling
A web site called The Victory Project proposes billion-dollar prizes for To the first person(s) that solves any of these Problems: 1. Develop a cure for breast cancer. 2. Develop a cure for diabetes. 3. Reduce greenhouse emissions from petroleum... MORE

Preference Heterogeneity and Insurance

Economics of Health Care
Arnold Kling
David Cutler, Amy Finkelstein and Kathleen McGarry write, Standard theories of insurance, dating from Rothschild and Stiglitz (1976), stress the role of adverse selection in explaining the decision to purchase insurance. In these models, higher risk people buy full or... MORE

Two Graphs About Dependency

Social Security
Bryan Caplan
People who are freaking out about the rise in the dependency ratio will normally point to the fact that the ratio of retirees to the working-age population is going to sharply rise. The following graph, taken from Social Security Administration... MORE

The Real Dependency Ratio

Social Security
Bryan Caplan
Most economists will tell you that the real problem with Social Security is demography. (Here's William Poole). The fraction of people over 65 will keep rising, implying a growing dependency ratio. The problem is that this is only the ratio... MORE

Miscommunication with Megan

Economics and Culture
Bryan Caplan
Megan McArdle's not happy with my defense of men against the charge of shirking on housework. If I held the view she ascribes to me - "that the partner in a marriage who cares less about something should always win"... MORE

I Have Conditions

International Trade
Bryan Caplan
If you don't like telling people No, a convenient alternative is setting conditions you know other people won't accept. Then the impasse is their fault, you see. Take free trade, for example:...Democrats do not flat-out oppose lower barriers to trade,... MORE

The Fallacy of Time Diversification: Mea Culpa?

Finance: stocks, options, etc.
Bryan Caplan
How many times have I made this argument:"At your young age, you have enough time to recover from any dips in the market, so you can safely ignore bonds and go with an all stock retirement portfolio." This kind of... MORE

Stimulus?

Macroeconomics
Arnold Kling
I spell out my current thinking on macroeconomics. Over the past twenty years, Keynesian forecasters, such as Morgan Stanley's Stephen Roach, have predicted many phantom recessions--slumps that never took place. In order to remain attractive, the picture of Keynesian economics... MORE

A Good Explanation

Institutional Economics
Arnold Kling
Alex Tabarrok writes, The law of unintended consequences is what happens when a simple system tries to regulate a complex system. The political system is simple, it operates with limited information (rational ignorance), short time horizons, low feedback, and poor... MORE

Richard T. Ely, Founding Fascist

Political Economy
Arnold Kling
One of the revelations of Jonah Goldberg's Liberal Fascism was the beliefs espoused by Richard T. Ely, the founder of the American Economic Association. In this essay, Ely wrote The law of society is service. This is the supreme law... MORE

How Can Guys Be So Lazy Around the House?

Economics and Culture
Bryan Caplan
The Economist blog shares one of its "favourite strategies for ramping down the gender war":Men don't need to do more housework and childcare to achieve equality. Women just need to do less. My dad used to change the oil in... MORE

Boudreaux vs. Macro

Macroeconomics
Arnold Kling
Don Boudreaux writes, Government cannot create genuine spending power; the most it can do is to transfer it from Smith to Jones. If the Treasury sends a stimulus check to Jones, the money comes from taxes, from borrowing, or is... MORE

Advertising: What Is Not Seen

Information Goods, Intellectual Property
Bryan Caplan
Here's a gem from the first article in Henderson's Concise Encyclopedia of Economics:The rise of the self-service store, for example, was aided by consumer knowledge of branded goods. Before the advent of advertising, customers relied on knowledgeable shopkeepers in selecting... MORE

Harford Book Forum at Marginal Revolution

Books: Reviews and Suggested Readings
Bryan Caplan
Today I kick off Marginal Revolution's Book Forum on Tim Harford's new The Logic of Life. It's a great book, well-written and full of interesting arguments. In later posts (either here or at MR) I'll challenge several of his arguments... MORE

Jonah Goldberg's Liberal Fascism

Books: Reviews and Suggested Readings
Arnold Kling
My review of the book is here. I would argue that it is many books, written by an author with Multiple Personality Disorder. There is Goldberg the revisionist historian, Goldberg the outraged conservative child, and Goldberg the troll. ...The most... MORE

A Good Sentence

Political Economy
Arnold Kling
Tyler Cowen writes, a good notion of individual responsibility might start with: "We're not going to label every "little guy" a victim, even when it supports our political narrative to do so." Of course, we will abolish political demagoguery just... MORE

Questions for Goolsbee and Samuelson

Business Economics
Arnold Kling
On Radio Free Megan, Austan Goolsbee (now an adviser to Barack Obama) discusses, among other things, the role of regulation in financial markets. Using his 20/20 hindsight, Goolsbee tells us that the mortgage market should have been better regulated. I... MORE

Stimulus: The Mainstream View

Macroeconomics
Arnold Kling
Peter Orszag does his job, offering the mainstream view on economic stimulus. When the constraint on short-term growth is aggregate demand, as appears to be the case today, both monetary and fiscal policy can help by boosting spending. i. On... MORE

Race and Institutions

IQ in Economics
Arnold Kling
Gary Becker writes, Yet it may be possible to overcome to a considerable degree this intergenerational transmission of low status. The most promising approaches in my opinion involve self-help programs that encourage better choices in black communities, the legalization of... MORE

The New Economics of Marriage

Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Betsey Stevenson and Justin Wolfers write So what drives modern marriage? We believe that the answer lies in a shift from the family as a forum for shared production, to shared consumption...the key today is consumption complementarities — activities that... MORE

Climate Debate Daily

Energy, Environment, Resources
Arnold Kling
No, I am not planning that here. It's the name of a new web site, which bears a not-coincidental resemblance to Arts and Letters Daily, an old favorite on our blogroll. Current links include a Time Magazine portrait of Lester... MORE

Henderson Beats Wikipedia

Books: Reviews and Suggested Readings
Bryan Caplan
I just got my copy of David Henderson's Concise Encyclopedia of Economics. I've loved this book since the first edition, and now that I'm a contributor, I love it all it the more! But seriously, this book is fun to... MORE

Outrunning a Bear

Political Economy
Arnold Kling
Tyler Cowen responds to a typical straw-man argument against libertarianism. I am more likely to think -- or should I say admit -- that human beings are irrational, even when the stakes are high (see the self-deception chapter in Discover... MORE

Two New Books

Books: Reviews and Suggested Readings
Arnold Kling
Don Boudreaux talks about his new book, Globalization. He does not believe in "victims of trade," "our collective trade deficit," or other popular notions. If you digest his arguments, you will know more about the trade issue than most economists.... MORE

Statistics is Not Right-Wing, But It is Elitist

Economic Philosophy
Bryan Caplan
Here's a thought-provoking passage from Ian Ayres' Super Crunchers:Like me, Ben Polak is passionate about the need to inculcate a basic understanding of statistics in the general public. "We have to get students to learn this stuff," he says. "We... MORE

Medical Innumeracy in Super Crunchers

Economics of Health Care
Bryan Caplan
Ian Ayres' Super Crunchers is full of neat material. But my favorite parts highlight the innumeracy of the medical profession. Most vivid example:[M]y partner, Jennifer, and I were expecting for the first time - back in 1994. Back then, women... MORE

Last week, Alex Tabarrok (who is co-authoring a principles textbook with Tyler Cowen) asked me for good examples of non-monetary incentives. Perhaps the best response is: "Do what I want, and I'll be your friend." Depending upon who makes the... MORE

The Red Herring of Principal-Agent Problems

Behavioral Economics and Rationality
Bryan Caplan
Tim Besley's Principled Agents? is supposed to get a full issue's worth of attention from The Review of Austrian Economics in the near future. Here's my review essay, and here's my favorite part (endnotes and references omitted):[P]olitical agency problems are... MORE

The Bad Old Days of 1994

Growth: Consequences
Bryan Caplan
If you're a nerd over 30, you'll probably laugh at this. If you're a younger nerd, you had to be there. If you're not a nerd, why are you reading econ blogs on a beautiful Friday afternoon? HT: Don Boudreaux... MORE

What a Difference a Month Makes

Politics and Economics
Bryan Caplan
Here's what Chris Hayes wrote about Ron Paul last month:But even if the Paul campaign doesn't point the way toward some lasting, powerful, paleo-cosmo libertarian coalition (and, really, let's hope it doesn't), he is at least providing libertarians with a... MORE

"Bloggers As Illegal Immigrants": What Does Borjas' Analogy Really Show?

Labor Mobility, Immigration, Outsourcing
Bryan Caplan
I just came across a particularly bizarre Borjas post, entitled "Bloggers as Illegal Immigrants":It is not uncommon to see a Journalist (with a capital J) launch into a diatribe against bloggers and sometimes even call for regulations to stop "citizen... MORE

Brooks vs. Caplan

Behavioral Economics and Rationality
Arnold Kling
David Brooks writes, In reality, we voters — all of us — make emotional, intuitive decisions about who we prefer, and then come up with post-hoc rationalizations to explain the choices that were already made beneath conscious awareness. “People often... MORE

One Million Dollars!

Behavioral Economics and Rationality
Bryan Caplan
Remember the scene in the first Austin Powers movie where Dr. Evil tries to hold the country hostage for one million dollars? That's how silly the presidential candidates' "economic stimulus packages" sound to me. And that's what I got to... MORE

Tyler Cowen's Daily Miracle

Growth: Consequences
Arnold Kling
He writes, Any single year there has been inflation, from one year to the next. From 1900 to 2008 there has been radical *deflation*, for instance in the Sears catalog. You'd rather spend 10K in the modern catalog than in... MORE

School Choice Pessimism

Economics of Education
Arnold Kling
Sol Stern writes, If Hoxby and Peterson were right in asserting that markets were enough to fix our education woes, then the ed schools wouldn’t be the disasters that Hirsch, Ravitch, and others have exposed. Unlike the government-run K–12 schools,... MORE

McKitrick on Global Warming

Energy, Environment, Resources
Arnold Kling
Ross McKitrick writes, In a greenhouse, movement of air is diminished, so the radiative portion of the energy drain must intensify. Physics can predict with certainty that in order to increase outbound radiation from a greenhouse, temperature inside the greenhouse... MORE

Economists for Self-Improvement

Behavioral Economics and Rationality
Bryan Caplan
Is lack of self-control a problem in your life? Or just a convenient excuse? If it's the former, stickK.com is now happy to take your money to solve your problem - whether its losing weight, stopping smoking, exercising regularly, or... MORE

How Globalization Will Save Your Life

International Trade
Bryan Caplan
I second Arnold's recommendation of Alex's column in Forbes. But for me, the highlight is the way that he explains the link between population and economic growth, and the demand and supply of innovation. First, demand:The cost of developing drugs... MORE

Financial Crises and Real Growth

Macroeconomics
Arnold Kling
Alex Tabarrok writes, Forget the talk of recession. The world is about to enter a new era in which miracle drugs will conquer cancer and other killer diseases and technological and scientific advances will trigger unprecedented economic growth and global... MORE

An Amazing Map

Cross-country Comparisons
Bryan Caplan
Check this out: The 50 U.S. states have been renamed for countries with similar GDPs. You'll learn as much about America as you will about the world.... MORE

Mencius Moldbug Asks Some Questions

Political Economy
Arnold Kling
He writes, given your rather vehement views on the Ron Paul controversy, I am curious as to how you might answer the following questions. I would not describe my views on Ron Paul as vehement. His supporters are vehement. I... MORE

North Korean Refugees and the Olympics

Labor Mobility, Immigration, Outsourcing
Bryan Caplan
I recently saw a bumper sticker that basically said that we should use the Beijing Olympics to shame the Chinese into releasing hundreds of thousands of North Korean refugees. This seems like a worthy cause that even American opponents of... MORE

Randian Scene of the Year in There Will Be Blood

Economics and Culture
Bryan Caplan
I just saw There Will Be Blood, and I can't stop thinking about it. The best scene is amazingly Randian for a movie based on an Upton Sinclair novel. Set-up: Daniel Plainview, the atheist oilman played by Daniel Day-Lewis, needs... MORE

Singapore: The Deal-Breaker

Cross-country Comparisons
Bryan Caplan
The world - including the U.S. - can learn a lot from Singapore. (See here and here). But would I want the U.S. to become Singapore - that is, to replace our current package of policies with theirs? No. The... MORE

Another Very Fair Review of My Book

Books: Reviews and Suggested Readings
Bryan Caplan
Scoff if you must, but I take great joy from most of the negative reviews of my book, especially the ones that analyze my psychology. They are often eerily perceptive. Here's a highlight from the latest one on Amazon: What... MORE

Posner vs. Becker

Economics of Health Care
Arnold Kling
Richard Posner writes, the uninsured are on average less rather than more healthy than the insured Gary Becker writes most of those without health insurance are young and do not have major medical expenses. Well, I suppose that the uninsured... MORE

Inconvenient Truth about Energy

Energy, Environment, Resources
Arnold Kling
Robert Bryce writes, Fans of energy independence argue that if the United States stops buying foreign energy, it will deny funds to petro-states such as Iran, Saudi Arabia and Hugo Ch¿vez's Venezuela. But the world marketplace doesn't work like that.... MORE

Useful Research

Economic Methods
Arnold Kling
Tyler Cowen discusses what he sees as some of the most interesting findings of the past year in economics. The common thread in these various discoveries is a careful use of data and an interest in real-world problems and puzzles.... MORE

Happiness Research

Behavioral Economics and Rationality
Arnold Kling
Helen Johns and Paul Ormerod write, One could conclude from the lack of correlation over time between aggregate happiness and almost any other socioeconomic variable of interest one of two things. Either that attempting to improve the human lot through... MORE

Liberal Fascism Watch

Political Economy
Arnold Kling
The Boston Globe reports Mayor Thomas M. Menino embarked on a highly public campaign yesterday to block CVS Corp. and other retailers from opening medical clinics inside their stores, an effort that exposed a rift between Menino and the state's... MORE

In The Undercover Economist, Tim Harford highly praised the health care policies of Singapore. But it wasn't until I read the section on health care in Ghesquiere's Singapore's Success that I realized how amazing the official numbers are. If the... MORE

My Classroom, Con't

Econlog Administrative Issues
Arnold Kling
Let me add some more color to my tone of comments post. 1. I do not mean to suggest that I have inherent credibility based on credentials or somesuch. 2. By "classroom" I mean to suggest decorum. By "my classroom"... MORE

As I've argued before, the best way to fight negative stereotypes is for people unfairly subject to the negative stereotype to use in-group peer pressure to raise the bar. In short: "Stop making me look bad!" Over at Agoraphilia, Glen... MORE

Tone of Comments

Econlog Administrative Issues
Arnold Kling
My blog is my classroom. Some blogs may want their comments to be wide-open forums where anything goes. I don't. Some blogs may want only sycophants and supporters to comment. Others ban comments altogether. Some bloggers have reputations for deleting... MORE

Singapore: "Automatic Stabilizers" Done Right

Macroeconomics
Bryan Caplan
Tax cuts are a popular cure for unemployment, but there are strong reasons to doubt that they are a good way to achieve this goal. As I explained a while back:Where does the money come from? If the central bank... MORE

Elasticity Bleg

Labor Market
Bryan Caplan
What is a standard estimate for the wage-elasticity of labor demand? Anyone?... MORE

Thoughts on Medicare

Economics of Health Care
Arnold Kling
Megan McArdle writes, My (partial) list of the interesting questions: 1. Is Medicare well structured to provide good health care to the elderly? 2. Is Medicare encouraging today's workers to save less than they will ultimately need? In other words,... MORE

Twilight of My Liberal Idol

Economic Methods
Bryan Caplan
I've been singing Krugman's praises for years. Anyone who could write The Accidental Theorist has a lot of credit in my bank. But his latest column on the failure of betting markets is so beneath him, it hurts to read:[P]rediction... MORE

Politics and Cults

Political Economy
Arnold Kling
I started to write this as a blog post this morning, but I turned it into an essay, and TCS quickly ran it. So, I still have not defined "cult." For now, let's say that you are in a cult... MORE

Truck and Barter or Bandits?

Economic History
Arnold Kling
Paul Walker writes, Arnold Kling isn't buying into this. He writes,"I just don't believe that over a thousand years ago human beings had the trustworthiness, discipline, numeracy, and institutional base to engage in what we would today recognize as free... MORE

Megan McArdle on Demographics

Productivity, Baumol's cost disease
Arnold Kling
She writes (or will write--It really ticks me off that by the time my Atlantic arrives the best articles have been blogged. Remind me why I pay to get the magazine?) As the Boomers age, they will consume fewer of... MORE

Ron Paul's Baggage

Politics and Economics
Arnold Kling
Folks have dug up some newsletters from the 1980's and 1990's put out under the Ron Paul brand. They do not sound so good. "[O]ur country is being destroyed by a group of actual and potential terrorists--and they can be... MORE

Political Scapegoating: How Farmer-Voters Respond to Bad Weather

Behavioral Economics and Rationality
Bryan Caplan
Punishing politicians for bad weather seems like the height of illogic. But punishing politicians for responding poorly to bad weather makes perfect sense. The governor of Louisiana doesn't create hurricanes, but he can deal with a hurricane well or poorly.... MORE

My Essay on the Fair Tax

Tax Reform
Arnold Kling
On my earlier post, commenter Morgan wrote, This is where the transparency of the sales tax is such a huge advantage. For the first time we can say, do you support this Bill at the cost of $.01 of sales... MORE

Interesting Tidbits

Economic Education
Arnold Kling
Professor Donald Lacombe of Ohio University is offering a course in Econoblogging! Will this test Tyler's assertion that the best way to learn economics nowadays is through blogs? In addition to blogs, a venerable source of economic wisdom is the... MORE

Virtual Political Economy

Behavioral Economics and Rationality
Arnold Kling
Edward Castronova talks about World of Warcraft, Second Life, and such with Russ Roberts on the latest econtalk. I used to play bridge quite a bit, but I stopped when I went to grad school. At that point, the last... MORE

Of Mayas and Markets

Economic History
Arnold Kling
The New York Times reports, The findings, archaeologists say, are some of the first strong evidence that the ancient Maya civilization, at least in places and at certain times, had a market economy similar in some respects to societies today.... MORE

Can Ron Paul Ensure a Democratic Victory? Will He?

Politics and Economics
Bryan Caplan
Ron Paul is highly unlikely to be the next president. But could he become the Republicans' Nader? Suppose after being knocked out of the primaries, Paul runs on the Libertarian Party ticket. He's got a big war chest, and enthusiastic... MORE

Pathological Individualism?

Political Economy
Bryan Caplan
I just got back from LA, and Ron Paul's signature was everywhere. A random "Who is Ron Paul?" billboard. A mini-rally at the Palm Springs public market. A button on the collar of my flight attendant. I have to admit... MORE

The Internet, New York, Detroit, and House Concerts

Information Goods, Intellectual Property
Arnold Kling
Edward L. Glaeser and Giacomo A.M. Ponsetto write, This paper advances the hypothesis that improvements in transportation and communica- tion technology can explain both the decline of Detroit and the reinvigoration of Manhattan. While we present some suggestive evidence, the... MORE

Why The Fair Tax is Unworkable

Tax Reform
Arnold Kling
Brad DeLong explains. Estimates of the actual rate of taxation required for the FairTax to be "revenue neutral" (meaning for it to bring in exactly the same amount of revenue that the federal government collects under the current system) start... MORE

Manzi writes, think that Weitzman has seriously engaged on the AGW issue at a unique level of depth. I admire his tenacity, seriousness and intellectual creativity in refusing to shrink from the issue. But he has tried to cross a... MORE

Mankiw on Fairy Godmotherism

Energy, Environment, Resources
Arnold Kling
Greg Mankiw writes, As a former energy secretary during the Clinton administration, Richardson has presumably studied these issues. But here he demonstrates extraordinary ignorance (or perhaps extraordinary disingenuousness) about the economic impact of cap-and-trade systems. By contrast, Obama shows extraordinary... MORE

Alan Blinder on Globalization

International Trade
Arnold Kling
He writes, Americans who want to stop the world fear that the nation either already is or is destined to become a victim of globalization. Such pessimism seems downright un-American. It is also fundamentally illogical. After all, much of globalization... MORE

An Iranian Communist Gets It Right in Persepolis

Behavioral Economics and Rationality
Bryan Caplan
Of course I'm going to like an animated movie based on an autobiographical graphic novel about the Iranian Revolution. But virtually every critic who's seen this movie agrees: Persepolis is excellent. Don't miss it. My favorite part is when the... MORE

Faces versus Policies

Politics and Economics
Bryan Caplan
Arnold already quoted my favorite section from my Sunday editorial in the Washington Post, so let me quote my second favorite part:Pundits love telling us that voters are "fed up" with politics as usual. Candidates follow suit, insisting that --... MORE

Iowa's Terms of Trade Improve

Energy, Environment, Resources
Arnold Kling
The Financial Post reports, Wheat prices alone have risen 92% in the past year, and yesterday closed at US$9.45 a bushel on the Chicago Board of Trade. At the centre of the imminent food catastrophe is corn - the main... MORE

Predicting What Bryan will Write Sunday

Political Economy
Arnold Kling
Mark Thoma peers into the future to find this column by Bryan Caplan. In 1996, Gallup ran a survey about the minimum wage. Some respondents were asked if they favored an increase. More than 80 percent said yes. The rest... MORE

Global Warming Scorecard

Energy, Environment, Resources
Arnold Kling
According to an unflattering analysis by Douglas Hoyt, climate models have made 1 correct prediction ("win"), 27 incorrect predictions ("losses"), and 4 predictions that cannot be judged either correct or incorrect ("ties"). Of the models' "losses," the one I consider... MORE

A lot, but Tyler's written a very fine postcard version:The Austrian story is that "the government distorted price signals to the market." Are those two accounts really so different? Do we need metaphysics to resolve that question? Take the classic... MORE

One Property Rights, Many Recipes?

Institutional Economics
Arnold Kling
Karol Boudreaux and Paul Dragos Aligica write, The legislative path is considered a rapid course to the creation of property rights...In some cases, when the economic mechanisms have been destroyed or have never existed in a functional form, the top-down... MORE

Some Responses on Global Warming

Energy, Environment, Resources
Arnold Kling
The response to my global warming question has been mostly either bitter denunciation or support, but few answers. However, Anand Gnanadesikan understands what I am looking for. For example, he recommends this paper. This study highlights the role of water... MORE

Brockman, Mind-Changing, con't

Behavioral Economics and Rationality
Arnold Kling
Robin Hanson will like this one.... MORE

John Brockman strikes again

Behavioral Economics and Rationality
Arnold Kling
This year's "Edge" question is What Have You Changed Your Mind About? Why?. Fifteen years ago, Brockman wrote, the traditional American intellectuals are, in a sense, increasingly reactionary, and quite often proudly (and perversely) ignorant of many of the truly... MORE

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