Category: Liberty Feeds

Is The NBA’s Reopening a Warning Sign for the U.S. Economy?

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: …

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Flesh & Soul, Economics & Liberal Arts

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. …

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Review: Narrative Economics: How Stories Go Viral and Drive Major Economic Events

 
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 (monetaryscenario@outlook.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…

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Hong Kong Safe Harbor Act

(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 […] …

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Fourth of July Musings: The Curse of Exceptionalism and the Perils of Patriotism

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. …

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Will the ICC Investigation Bring Justice for Palestine?

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?”
The post Will the ICC Investigation Bring Justice for Palestine? appeared first on Antiwar.com Blog. …

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It’s the 4th of July! Why Is Democracy Destroying the World?

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. …

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Who Is the Greatest Living Economist?

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. …

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Two Competing “Stimulus” Packages: One Pays You to Stay On Your Couch and Watch Netflix, The Other Pays You If You “Get the Economy Going” By Working

Casey B. Mulligan,   professor of economics at the University of Chicago and author of “You’re Hired!,” and Stephen Moore,  a co-founder of the Committee to Unleash Prosperity, report in The Wall Street Journal: The White House will soon begin negotiating with congressional Democrats on a “Phase 4” economic revival plan. President Trump has repeatedly expressed his support for suspending the …

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