Monday , September 23 2019
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Tag Archives: standard of living

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Gerard Baker, writing in the Wall Street Journal, reveals that he is no convert to the faith of St. Greta of Stockholm. A slice: The High Church of Environmentalism has acquired many of the characteristics of its ecclesiastical predecessor. An apocalyptic eschatology warns that we will all be consumed by fire if we don’t follow the ordained rules. The notion that it is our sinful nature that has brought us to mortal peril—from the Original Sin of a carbon-unleashing industrial revolution...

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More Globalization (Please!)

When I posted the first of three videos in Mercatus’s new Globalization series I carelessly missed the happy fact that videos numbers two and three are also already available. Here they are. (In the last video, I believe that the benefits of globalization for middle-income workers in developed countries is overstated. It’s untrue that wages for many of these workers have stagnated for a “generation.“) Comments

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A Quick Update of a 2006 Work-Time-Cost Finding

David Henderson e-mailed me earlier today to ask if I’ve ever updated this post on the work-time cost of some goods found in Sears’s Fall/Winter 1975 catalog. I did do so – in a fashion, and then only in a PowerPoint presentation. But I just now checked to see if there’s been any change between 2006 and today in the work-time costs of the particular (kinds of) goods mentioned in that 2006 blog post. At the websites of Amazon, Home Depot, and Lowe’s, I found goods today comparable to ones...

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Bonus Quotation of the Day…

… is from page 13 of Deirdre McCloskey’s August 2019 manuscript titled “Bettering Humanomics: Beyond Behaviorism and Neo-Institutionalism” (footnote deleted): Monopoly or inequality or externality or informational asymmetry “exist,” to be sure. Some economists have been vigorous in measuring their local effects, on telephone pricing, say, or the imperfect market for defective horses or automobiles. But their national significance has been nothing like established in economic measurement....

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My intrepid Mercatus Center colleague Veronique de Rugy describes new “reforms” at that great geyser of cronyism, the U.S. Export-Import Bank, as “little more than window dressing that would not substantially change Ex-Im’s dodgy portfolio.” David Henderson takes stock of supply-side economics. Phil Magness reports on the not-so-sweet history of Swedish statism. My GMU Econ colleague Bryan Caplan is indeed wise. In this podcast, Aaron Powell and Trevor Burrus talk with the grateful Steve...

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Max Gulker argues that a President Elizabeth Warren would be an even greater calamity than would a President Bernie Sanders. A slice: Warren presents herself as a tireless, technocratic savior of capitalism, but her plans give the U.S. government far more control over individual firms, households, and markets than anything proposed in recent memory. Warren, a legal scholar by trade, has moved into the complex realm of a modern economy, where a lawyer’s penchant for sweating the details...

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Richard Ebeling shares the surprising history of the welfare state. A slice: How pervasive was such [private] philanthropy and charity? William Stanley Jevons (1835-1882), one of the leading British economists of the second half of the 19th century, and one of the developers of marginal utility theory, called for the end to private charity and its replacement with a full government system. This was not due to the paucity of private benevolence, but rather due to what he considered its...

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Art Carden wishes a very happy birthday to Deirdre McCloskey. A slice: Over a five-decade career, Professor McCloskey has written sixteen books, edited seven more, and written hundreds of articles for academic journals and the popular press. Today, she celebrates her 77th birthday, but she shows absolutely no signs of slowing down. Yale University Press will release her new book Why Liberalism Works: How True Liberal Values Produce a Freer, More Equal, Prosperous World for All on October...

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