The Coming Battle for the COVID-19 Narrative
Will the disruption of Covid-19 deal a major blow to market ideology?
Read more...Category Archives: Market inefficiencies
Why East Germans Are Not Taking Advantage of the Large Wage Gap Between East and West Germany
Reallocating workers to better jobs at their current location could be a more cost-effective avenue to increase aggregate wages, and even accelerate regional convergence
Read more...Do Davos Billionaires and Bankers Really Believe Booms and Busts Are Over Because They’ve Trained the Fed?
Fed tightening is no longer needed to create recessions, given fragile credit structures and a growing pandemic out of China.
Read more...Financialization of the U.S. Pharmaceutical Industry
A takedown of the pharmaceutical industry’s assertion that it need to price gouge so it can invest in R&D. Profits go almost entirely to various forms of looting.
Read more...New Evidence on The Broad Reach of Pharmaceutical Payments
Our results add to a growing body of evidence linking pharmaceutical payments to changes in prescribing behaviour
Read more...Roiled Repo Markets: Looking for Answers in All the Wrong Places
If you are worried about repo, you are worried about the wrong thing. If anything, it’s a symptom of too much liquidity demand from the FX swaps market.
Read more...Herd Behaviour in Asset Markets: The Role of Monetary Policy
Data supports the idea that lax monetary policy contributes to bubbles. Yes, Virginia, some regard that claim as controversial.
Read more...Michael Hudson: Asset-Price Inflation and Rent Seeking
A meaty new paper by Michael Hudson.
Read more...Hubert Horan: Can Uber Ever Deliver? Part Twenty-One: Mike Isaac’s Book Ignores Economics and Financial Results and Gets the Uber Story Almost Entirely Wrong
Mike Isaac’s Super Pumped!, a new book on Uber, draws fundamentally false conclusions about the company.
Read more...48 States to Investigate Google: Anti-Trust or Politicking?
The messy politics of the 48 state Google anti-trust investigation.
Read more...Phishing Equilibria in Silicon Valley: Google Maps and Fraud
Don’t trust business listings in Google Maps. They’re can be fraudulent, even dangerous.
Read more...Michael Hudson: Why Frances Coppola’s “The Case for the People’s Quantitative Easing” Is for Banks, Not the People
A dubious proposal to continue over-reliance on monetary policy, this time with a quantitative easing scheme, instead of fiscal spending.
Read more...Carbon Dividends: A Plan for Earth’s Survival that Can Survive U.S. Politics?
Yves here. Carbon dividends are a way to create support for setting a price for carbon. None other than those starry-eyed granola heads at Financial Times called for setting a price for carbon in 2007. Pigovian taxes (ones meant to discourage activity, like transactions taxes) should typically not be seen as revenue generators, since you […]
Read more...Hospitals Squeal Like Stuck Pigs Over Trump Proposal to Force Disclosure of Insurance Company Discounts
A Trump proposal to force some price transparency on hospitals has them hopping mad.
Read more...Nobel Economist Angus Deaton: Inequality is Destroying Democratic Capitalism
Angus Deaton argues that the present level of inequality is a threat to “democratic capitalism” but contends that historically, even more severe inequality has been reversed.
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