Thursday , June 17 2021
Home / Tag Archives: Seen and Unseen

Tag Archives: Seen and Unseen

Some Economics of Pricing in the Real World

In my latest column for AIER I explore some basic economics of pricing in a world – our world – in which there are costs of transacting. (This column is the first in what will be a two-part series.) A slice: Consider supermarkets. Nearly all supermarkets offer customers ‘free’ parking, despite the fact that building and maintaining these parking lots is costly. These costs are recouped in the prices supermarkets charge for groceries. Yet not all supermarket customers use automobiles....

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Some Non-Covid Links

Ryan Bourne reports on a new study that finds – shockingly! – that retailers adjust their employees’ work schedules in ways that reduce retailers’ costs of higher minimum wages. A slice: Their results are striking. The minimum wage hikes are found to have no impact on overall hours worked at the California stores. So, if one was looking at hours alone as a proxy for employment, you might conclude that “the minimum wage has no apparent effect on employment.” Yet the researchers find that...

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Some Covid Links

E.J. Antoni and Casey Mulligan, writing in the Wall Street Journal, report on collateral damage unleashed by trusting governments with greater powers to respond to Covid-19. A slice: The Biden team and Democrats in Congress were warned repeatedly that the March “stimulus” bill would shrink employment by five million to six million because of the rewards for not working. Three months later the evidence is clear: The stimulus bill stimulated unemployment, not employment. More than a...

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Some Covid Links

Despite the protests of some, the man of straw looks increasingly as if he’ll extend his tyrannical stay in Britain…. And Janet Daley is understandably fed up. Two slices from Daley: Every statement by a government official – from the Prime Minister and the Health Secretary on down – over the past month has given hope and assurance on the one hand only to contradict it with the other. (“Nothing in the data suggests that we need to delay lifting restrictions” but “growth of the new...

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Bonus Quotation of the Day…

… is from page 3 of Herbert Spencer’s 1891 “Introduction: From Freedom to Bondage,” to A Plea for Liberty (Thomas Mackay, editor, 1891); the page number is to Liberty Fund’s 1981 edition of this collection: [T]he more things improve the louder become the exclamations about their badness. Comments

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Another Profit Opportunity Mysteriously Going Unseized!

This Vox report (or some variation on it) was sent to me by three different people, each of whom had the good sense to understand that something about it is fishy. Ms. T__: Thanks for sending this Vox report on Aaron Klein’s ‘theory’ that credit-card rewards points are a scheme through which poor people are unwittingly lured to subsidize the consumption of rich people. Here’s the key paragraph of the report: Every time a credit card is swiped, the bank charges a fee. It seems trivial,...

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Some Covid Links

Monica Gandhi and Jeanne Noble, writing in the Wall Street Journal, expose the deceptiveness of the CDC’s recent attempt to stir up fear of Covid’s risk to teenagers. Here are their opening paragraphs: The Centers for Disease Control and Prevention released a report last week warning that adolescent hospitalizations due to Covid-19 were on the rise. The media picked up the message and ran with it. But it isn’t true. The CDC misrepresented the data and played down a more important finding...

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Some Covid Links

Jeffrey Tucker writes of the lockdowns’ inequity. A slice: And that is precisely what happened in 2020. In the name of all these strange new practices – ‘Nonpharmaceutical Interventions’, ‘Targeted Layered Containments’, or, in the words of Dr. Fauci “public health measures,” all of which are euphemisms for lockdowns – many governments sliced and diced the population. The ruling class cobbled together its own Medieval-style system for beating disease through an expectation that the...

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Some Non-Covid Links

GMU Econ alum Dan Mitchell reminds us that “by historical standards, today’s Americans are fantastically wealthy.” My intrepid Mercatus Center colleague Veronique de Rugy talks with Emily Jashinsky about some of Biden’s irresponsible policies. Also from Vero is this EconLog blog post on Covid and Keynesian stimulus. Here’s her conclusion: I am not expecting newspapers to stop calling government spending “stimulus”, but it would be nice if textbooks would adjust their Keynesian theory...

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Some Covid Links

Johns Hopkins School of Medicine professor Marty Makary, writing in the Wall Street Journal, explains the power of natural immunity to Covid-19. Here’s his conclusion: Dr. Fauci said last Aug. 13 that when you have fewer than 10 cases per 100,000, “you should be able to open up safely and clearly.” The U.S. reached that point in mid-May. It’s time to stop the fear mongering and level with the public about the incredible capabilities of both modern medical research and the human body’s...

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