Wednesday , September 22 2021
Home / Tag Archives: Politics and economics

Tag Archives: Politics and economics

Climate economics

An essay on climate economics at National Review. ***Climate policy is ultimately an economic question. How much does climate change hurt? How much do various policy ideas actually help, and what do they cost? You don’t have to argue with one line of the IPCC scientific reports to disagree with climate policy that doesn’t make economic sense.Climate policy is usually framed in terms of economic costs and benefits. We should spend some money now, or accept reduced incomes by holding...

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Covid incompetence

 WWII started badly for the United States. Our tanks blew up. Our torpedoes were duds. Our airplanes were outclassed. Many commanders were incompetent, soldiers green, supplies chaotic. We lost a lot of battles.  But we learned. The lessons of each mistake were incorporated, incompetent commanders sacked, soldiers learned their terrible craft. Delta is the fourth wave of covid, and amazingly the US policy response is even more irresolute than the first time around. Our...

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How much does climate change actually affect GDP? Part I: An illogical question.

How much does climate change* actually affect GDP? How much will currently-envisioned climate policies reduce that damage, and thereby raise GDP? As we prepare to spend trillions and trillions of dollars on climate change, this certainly seems like the important question that economists should have good answers for. I'm looking in to what anyone actually knows about these questions. The answer is surprisingly little, and it seems a ripe area for research. This post begins a series.  I...

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Lessons learned? Review of a great review.

After great events, will the US government and political system learn from mistakes? Or will we raise the bridges and enshrine whatever was done last time as holy writ, to be repeated again? Reputations of people in power push for the latter. But learning from mistakes is the only way to get ahead. Bailouts and stimulus from 2008 seem to have followed the latter possibility. Will the lesson from covid look skeptically on the disastrous performance of CDC and FDA, evaluate whether...

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Even Finance Professors Lean Left

You may have thought of finance professors at business schools as likely to be a fairly conservative lot, or at least to include a good number of them. You might think finance would be an exception to the growing political monoculture in US academia. You would be mostly wrong.  Emre Kuvvet tracked down the party affiliation of finance professors in the top 20 US departments, and wrote up the results in "Even Finance Professors Lean Left. Berkeley has more Republicans than Chicago? I...

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Garicano’s conversations with economists

Luis Garicano has just posted a very interesting free e-book, "Capitalism after covid: Conversations with 21 economists." I was honored to be one of his interviewees, video here. Luis has a VoxEU column summarizing conversations, and twitter thread if you like reading such things. Luis is a great interviewer. This is not an endorsement of all the ideas! Luis found a wide spectrum of ideas, and I think that is the strong thing about the project. You can see how really smart people, on top...

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Meritocracy

Adrian Woolridge wrote a thought-provoking essay titled "Meritocracy, Not Democracy, Is the Golden Ticket to Growth," advertising a forthcoming book. Meritocracy, the secret sauce of growth?  To Woolridge, meritocracy is the secret sauce of prosperity: The surest sign that a country will be economically successful is not the health of its democracy, as some liberals like to think, or the leanness of its government, as some free-marketers imagine, but its commitment to...

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Cruz on crony capitalism

Senator Ted Cruz wrote a blistering Wall Street Journal Op-Ed decrying CEOs who pander to Democrats by making profoundly uninformed public statements. He announced that he will no longer take money from their corporate political action committees. And, he statesThis time, we won’t look the other way on Coca-Cola’s $12 billion in back taxes owed. This time, when Major League Baseball lobbies to preserve its multibillion-dollar antitrust exception, we’ll say no thank you. This time, when Boeing...

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