Sunday , June 20 2021
Home / Tag Archives: 02: The One Lesson of Business

Tag Archives: 02: The One Lesson of Business

Removing intellectual property protections: what could possibly go wrong?

Marginal Revolution has a devastating critique of the Biden Administration support for “the waiver of IP protections on COVID-19 vaccines to help end the pandemic.”  First, IP protections are not a bottleneck, production is:  All of the vaccine manufacturers are trying to increase supply as quickly as possible. Billions of doses are being produced–more than ever before in the history of the world. Licenses are widely available.It follows that the waiver of IP protections will do little...

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Costs of lockdowns are more than 3 times higher than the benefits

Essay from a Canadian economist concludes"...the cost/benefit ratio of lockdowns in Canada, in terms of life-years saved, is between 3.6–282. That is, it is possible that lockdown will go down as one of the greatest peacetime policy failures in Canada’s history.1.  The benefits of lockdowns are small because:Even without lockdowns, vulnerable people take care of themselves by isolating, so the effects of lockdowns are small.Covid deaths are concentrated among the elderly, with fewer years...

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Revealed preference: people are leaving California in droves

I grew up in San Diego and, despite the great weather and surf (swells three to four feet at ten-second intervals), I left the state for a better job.  Now, the National Review reports on the current exodus (links below are to past posts on the website about the Not-So-Golden State). ...what caused and continues to cause the exodus out of California is not tax burden, or regulation, or cost of living, or housing prices. Rather, it is the burden, and regulation, and cost of living, and...

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Does venture capital still contribute to growth?

The New Yorker has a harsh critique of some Venture Capital firms, like the ones that funded WeWork:  A widely read summary by a Harvard Business School professor, Nori Gerardo Lietz ... exposed WeWork’s “byzantine corporate structure, the continuing projected losses, the plethora of conflicts, the complete absence of any substantive corporate governance, and the uncommon ‘New Age’ parlance.” At the same time, she wrote, the S-1 (Disclosures to the regulators about the company's financial...

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President Joe Biden vs. Joe Biden

 NY Times has a good article on the Biden administration's contempt for economics.   “The next generation of the economics profession is rebelling against its predecessors by being all about inequality in the same way that my generation rebelled against its predecessors by being all about incentives, and this is a good thing,” said Larry Summers, who served as Treasury secretary under Bill Clinton and N.E.C. director under Barack Obama.  Biden has less trust in economists, and so does...

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Vaccine Tourism

 Lufthansa is eyeing the prospect of flying customers in and out of Moscow for the sole purpose of receiving the Sputnik V vaccine against COVID-19. The offer would include two round trip tickets for the two dosses from various European cities and be priced at about 1000 euros.I was wondering when market forces would enter into Covid-19 vaccine distribution. Most countries are distributing it free to recipients and so have developed a rationing mechanisms. Market mechanisms, like this one,...

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Can money buy happiness?

Contrary to what I was taught in Sunday School, self-reported happiness rises with income, but at a declining rate:each dollar (of income )starts to matter less the more a person earns. "We would expect two people earning $25,000 and $50,000, respectively, to have the same difference in well-being as two people earning $100,000 and $200,000, respectively. In other words, proportional differences in income matter the same to everyone."

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