Tyler Cowen makes the case in his July 4th Bloomberg column that the failure of some NBA players to return to work has implications for the rest of the workforce: Key snippets: As a fan of professional basketball and a student of economic game theory, I am becoming increasingly concerned. I fear that the NBA, in particular, may be reflecting a still-hidden trend in the broader economy: …Read More
Author: Liberty Feeds
On our sister website Law & Liberty, Jennifer Frey (U. of South Carolina) has a remarkable review of what seems to be a remarkable book by Zena Hitz. With Hitz, Frey defends the “monkish virtues”—and liberal arts—that David Hume attacked in the name of utility and economics. Monks, however, should also learn some economics. The […]
The post Flesh & Soul, Economics & Liberal Arts appeared first on Econlib. …
Narrative Economics: How Stories Go Viral and Drive Major Economic EventsRobert J. ShillerPrinceton: Princeton University Press, 2019xxi + 377 pp.
Abstract: Much of Shiller’s new book is about how economic narratives form, spread, and fade. Drawing on medical evidence about the spread of infectious disease, Shiller argues that “economic fluctuations are substantially driven by contagion of oversimplified and easily transmitted variants of economic narratives.” But Shiller ignores the powerful role of monetary disorder, whether in forming the narrative or determining the contagion rate, or as a competitor to the narrative. Ignoring or downplaying money’s role leaves Narrative Economics a disappointment.
recession — housing bubble —monetary policy — narrative economics — business cycle
Brendan Brown (email@example.com) is a nonresident senior fellow at the Hudson Institute and an associated scholar of the Mises Institute.
Robert J. Shiller in his new book focuses on an issue of fundamental importance to understanding economic and financial market cycles—the rise and fall of narratives. The book is full of promise, written by an author acclaimed for his pioneering work in applying psychology research about impaired mental processes in decision-making to economic and financial market analysis.
A well-known proposition of modern psychology, termed the representativeness heuristic by authors Daniel Kahneman and Amos…
(Don Boudreaux) TweetOn this 4th of July, I can think of no more appropriate means by which Americans can commemorate the immortal words of the Declaration of Independence by supporting the Hong Kong Safe Harbor Act. Here’s David Bier: The Hong Kong Safe Harbor Act would directly support protesters by telling them that they can risk their […] …Read More
From Scheerpost: Once again, this Fourth of July, Americans will celebrate – to the unwitting militarist racist tune that is the “Star Spangled Banner” – more than just the nation’s Independence Day. Though most folks will, if at a reasonable social distance, focus more on the backyard beer and brats, U.S. jingoism and exceptionalism will … Continue reading “Fourth of July Musings: The Curse of Exceptionalism and the Perils of Patriotism”
The post Fourth of July Musings: The Curse of Exceptionalism and the Perils of Patriotism appeared first on Antiwar.com Blog. …
In the past, there have been many attempts at holding accused Israeli war criminals accountable. Particularly memorable is the case of the late Israeli Prime Minister, Ariel Sharon, (known, among other nicknames, as the ‘Butcher of Sabra and Shatila’) whose victims attempted to try him in a Belgian Court in 2002. Like all other efforts, … Continue reading “Will the ICC Investigation Bring Justice for Palestine?”
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Jul 4, 2020 | Malfeasance |
This post Was the American Revolution a Mistake? appeared first on Daily Reckoning.
Gary North is sure to ruffle many a feather. He argues the American Colonies were the freest society on Earth in 1775, and that the American Revolution was economically disastrous. Was the American Revolution a mistake?
The post Was the American Revolution a Mistake? appeared first on Daily Reckoning. …
With the venerable Dr. Thomas Sowell turning ninety this week, a question arises in the fintwit (financial Twitter) world: Who is the greatest living economist? This question is more difficult than it appears. First, determining the “greatest” individual in any human field is always a highly subjective endeavor, whether we’re talking about economists or basketball players. Do we mean the most brilliant economist, in terms of sheer mental horsepower, or the most influential? The most prolific? Most “correct”? Most respected? Most listened to, either by policymakers or the public? The economist with the most significant impact today? The most famous? Someone who is most popular among their academic peers, or best known to lay audiences? A wonkish … Continue reading →
The post Who Is the Greatest Living Economist? appeared first on LewRockwell. …
History definitively proves that, when practiced by governments, democracy guarantees discord, discontent, disharmony, upheaval, chaos, and political disaster, often leading to totalitarianism. “But,” you may be thinking already, “How can that be? Isn’t democracy good? Doesn’t it prevent those things?” So you may be surprised to discover that more than half — 58% — of 4 million folks around the world surveyed in a Cambridge U. study are dissatisfied with democracy. That’s the highest level of discontent ever recorded in the survey’s 25 year history. Further, the level of dissatisfaction is particularly high in the U.S.A. and U.K. The New … Continue reading →
The post It’s the 4th of July! Why Is Democracy Destroying the World? appeared first on LewRockwell. …
In case you weren’t aware of this, Sweden refused to go into a lockdown mode. Restaurants remained open, bars remained open, the entire country remained open, all because Swedish authorities decided to let the virus run its course. They expected the country to reach what is known as “herd immunity.” And they succeeded! At first, coronavirus cases rose quite rapidly, as expected. But even as the number of new cases continued climbing, the number deaths began declining. I don’t know that the proper word is “plummeting,” but as you can see from the graph below, the decline is very pronounced. … Continue reading →
The post Sweden: Number of Covid Deaths Plummeting Even as the Number of Cases Rises appeared first on LewRockwell. …
Shop all books by Tom Woods From the Tom Woods Letter: Independence Day is coming up, and I wonder how many people really get why it matters.In school, we were told this: “No taxation without representation.”Zzzzzzzz.The real principles were more like the following.(1) No legislation without representation.The colonists insisted that they could be governed only by the colonial legislatures. This is the principle of self-government.This is why a Supreme Court ordering localities around is anti-American in the truest sense. It operates according to the opposite principle from the one the American colonists stood for.(2) Contrary to the modern Western view of the state … Continue reading →
The post They Don’t Dare Tell You What July 4th Really Means appeared first on LewRockwell. …
Today Texas Governor Greg Abbott (R) issued yet another executive order on the coronavirus outbreak – while the Texas state legislature continues slumbering while collecting paychecks for no work. The mainstream media, predictably, is mis-reporting the executive order as a “statewide face covering requirement for Texans.” It is no such thing. However, it is worded in such an obtuse manner that this misinterpretation of the executive order will likely be universal in Texas. Here is the important part of the order: Every person in Texas shall wear a face covering over the nose and mouth when inside a commercial entity … Continue reading →
The post Why Texas Governor Abbott’s ‘Face Mask’ Order Is Not What It Seems appeared first on LewRockwell. …
The post Richard Henry Lee Wrote the Original Declaration of Independence – PODCAST appeared first on LewRockwell. …Read More
- Is The NBA’s Reopening a Warning Sign for the U.S. Economy?
- Flesh & Soul, Economics & Liberal Arts
- A Photo for the Fourth
- Review: Narrative Economics: How Stories Go Viral and Drive Major Economic Events
- Hong Kong Safe Harbor Act
- Fourth of July Musings: The Curse of Exceptionalism and the Perils of Patriotism
- Will the ICC Investigation Bring Justice for Palestine?
- Was the American Revolution a Mistake?
- Freedom is a Living, Breathing Thing
- Who Is the Greatest Living Economist?
- It’s the 4th of July! Why Is Democracy Destroying the World?
- Sweden: Number of Covid Deaths Plummeting Even as the Number of Cases Rises
- They Don’t Dare Tell You What July 4th Really Means
- Why Texas Governor Abbott’s ‘Face Mask’ Order Is Not What It Seems
- Richard Henry Lee Wrote the Original Declaration of Independence – PODCAST
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