New Report Finds Costs of Climate Change Impacts Often Underestimated
Why most economists considerably underestimate the cost of climate change.
Read more...Category Archives: The dismal science
Economic Warfare: Insights from Mançur Olson
War II lessons from Mançur Olson and how they apply now.
Read more...The Political Colour of Fiscal Responsibility: Trump’s Fiscal Policy as a Republican Tradition
Why Democrats are the party of fiscal orthodoxy.
Read more...The Economics of Neutrality in World War II
Neutrality in World War II meant appeasing the belligerents.
Read more...How Misleading Economic Analysis Is Corrupting Our Democracy
Illustrating some ways that so-called economic studies in the political sphere are cooked to sell a point of view.
Read more...Carbon Taxes and Carbon Pricing Are Not Solutions to the Climate Crisis
A short-form debunking of a popular but unsound idea for addressing carbon emissions.
Read more...The Myth of Shareholder Primacy
A surprising alliance of big business, activists and left-wing politicians have condemned the shareholder value paradigm. But did it ever really exist?
Read more...America Will Keep Losing Its Middle Class as Long as “The Free Market” Dominates the Economic Debate
How free market fundamentalism has undermined industrial policy and other pro-worker measures.
Read more...Why Did Isaac Newton Lose His Shirt in Financial Speculation? Author Alex Pollock Explains.
Trying to predict the financial future is a fool’s errand, even for a genius.
Read more...What Randomised Control Trials Can and Cannot Do: The 2019 Nobel Prize
A long-form discussion of the randomised approach celebrated in this year’s “Nobel” for economics.
Read more...The Famous Baseball-Watching Equality-Equity Graphic, Scrutinized
Turning to a classic policy debate: equality versus equity.
Read more...Why Have Facebook and Other Tech Giants Gotten Away With Gobbling Up Competitors?
Why have regulators sat pat as Big Tech companies like Facebook and Google have done deals that look like violations of antitrust law?
Read more...Impoverished Economics? Unpacking the Economics Nobel Prize
Yves here. Even thought the mainstream media, as usual, duly applauded the winners of this year’s “Nobel” prize in economics, there’s been less attention paid to the recipients than usual and far more criticism, some very measured, others more critical. The winners helped develop and promote an approach to development economics they called “randomized control […]
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...How Performance Evaluation Metrics Corrupt Researchers
New research shows how citation metrics create perverse incentives for corruption in economics.
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