You can listen 1070 AM if you're in the area or over the internet at this link.
Friday, November 30, 2012
On the radio - Tuesday at 9:00 AM
Just as a heads up ... I'll be on the radio at 9:00 Tuesday, December 4th. I'll be a guest of the "On the Mark" program.
Discussion of Sandel's book and great quotes by McCloskey
Several links:
1. Discussion of Michael Sandel's new book. I've read most of his book "Justice", but not this one. Given the reviews and time constraints, I highly doubt I'll add it to my reading queue. You absolutely should read Deirdre McCloskey's review. (Really, you should read anything McCloskey writes.)
Here are two of my favorite quotes from McCloskey's review:
"Because they do, most of them accept for example that going down and joining the union made workers better off, by giving them better bargaining power against the bosses, even though the historical evidence is crushing that unionization did not make workers better off (rising productivity did)."
"The poor have benefited the most from capitalism. The sheer, first-act, unanalyzed equality that Sandel advocates would have killed the modern world and kept us in the appalling poverty of the human condition down to 1800. In fact in some countries it did, such as India after 1947, under Gandhi-plus-London-School-of-Economics egalitarianism, the "License Raj" and "the Hindu rate of growth," as the Indians themselves bitterly described their communitarian economy. When I talk to friends who think like Sandel I worry that their dispositions will kill, quite unintentionally, the only chance for the world's poor to achieve the scope for a full human life."
1. Discussion of Michael Sandel's new book. I've read most of his book "Justice", but not this one. Given the reviews and time constraints, I highly doubt I'll add it to my reading queue. You absolutely should read Deirdre McCloskey's review. (Really, you should read anything McCloskey writes.)
Here are two of my favorite quotes from McCloskey's review:
"Because they do, most of them accept for example that going down and joining the union made workers better off, by giving them better bargaining power against the bosses, even though the historical evidence is crushing that unionization did not make workers better off (rising productivity did)."
"The poor have benefited the most from capitalism. The sheer, first-act, unanalyzed equality that Sandel advocates would have killed the modern world and kept us in the appalling poverty of the human condition down to 1800. In fact in some countries it did, such as India after 1947, under Gandhi-plus-London-School-of-Economics egalitarianism, the "License Raj" and "the Hindu rate of growth," as the Indians themselves bitterly described their communitarian economy. When I talk to friends who think like Sandel I worry that their dispositions will kill, quite unintentionally, the only chance for the world's poor to achieve the scope for a full human life."
Wednesday, November 28, 2012
Recent published research ....
Link here. This was a fun project ...
Abstract:
Hypotheses explaining outcomes from internet poker were tested by using structural equations modeling: Personal characteristics and traits were proposed to influence motivation, leading to gaming behavior and then to outcomes. One hundred ninety-four participants from an internet poker forum completed online assessment. Three separate outcomes were supported: social-emotional gains, monetary winnings/losses, and negative experiences. One third of the participants reported some negative outcomes and 12% said these were significant; two thirds indicated no negative outcomes. Problems were most linked to the trait of Neuroticism, younger age, and more hours played, but unrelated to amounts won or lost. Gaming for social-emotional benefits mediated fewer negative outcomes. Financial gain motivation was a key mediator for gaming behavior. Findings were consistent with research showing negative emotionality and youth to be associated with poor gambling outcomes. The model suggests concrete actions that can be taken to minimize problem gaming while maximizing healthier involvement with online poker.
Abstract:
Hypotheses explaining outcomes from internet poker were tested by using structural equations modeling: Personal characteristics and traits were proposed to influence motivation, leading to gaming behavior and then to outcomes. One hundred ninety-four participants from an internet poker forum completed online assessment. Three separate outcomes were supported: social-emotional gains, monetary winnings/losses, and negative experiences. One third of the participants reported some negative outcomes and 12% said these were significant; two thirds indicated no negative outcomes. Problems were most linked to the trait of Neuroticism, younger age, and more hours played, but unrelated to amounts won or lost. Gaming for social-emotional benefits mediated fewer negative outcomes. Financial gain motivation was a key mediator for gaming behavior. Findings were consistent with research showing negative emotionality and youth to be associated with poor gambling outcomes. The model suggests concrete actions that can be taken to minimize problem gaming while maximizing healthier involvement with online poker.
Warren Buffett Links
Warren Buffett is in the news again. I used to hold him in high regard, but not anymore. He's a master at avoiding taxes while advocating for higher taxes on the wealthy. Further, he doesn't seem to advocate closing the loopholes he exploits.
Here is Buffett discussing his thoughts on new taxes.
Here is the Weekly Standard exposing his hypocrisy.
Greg Mankiw discusses.
Here is Buffett discussing his thoughts on new taxes.
Here is the Weekly Standard exposing his hypocrisy.
Greg Mankiw discusses.
Sunday, November 25, 2012
Good op-ed on Pennsylvania's Liquor Control Board ...
By Jay Ostrich of the Commonwealth Foundation.
Article is here. This is an interesting read, but the biggest beneficiary of disbanding the Pennsylvania Liquor Control Board would be consumers, who would pay less for alcohol if there is competition. This extra money these consumers save would mean there is additional spending in other areas as well, benefiting even those who don't drink any alcohol.
Laws Restricting Consenting Adults ...
The laws restricting consenting adults from making transactions with each other, otherwise known as price gouging laws, have been in the news recently (and on this blog) with the gas prices in New Jersey. Some recent stories.
Link to summary of state laws.
Gas lines in New Jersey down as prices are up? This should not be shocking information for anybody who takes introductory economics courses. Link here.
A debate on price gouging laws. The person arguing for them gets an intellectual beat-down.
Link to summary of state laws.
Gas lines in New Jersey down as prices are up? This should not be shocking information for anybody who takes introductory economics courses. Link here.
A debate on price gouging laws. The person arguing for them gets an intellectual beat-down.
Thursday, November 22, 2012
Happy Thanksgiving!
Hope you have a great day! Our family is in California, enjoying the holiday.
Some links:
Earlier this week, we visited a place that has mastered the art of capitalism: Link here.
Economic news about Black Friday.
Some despicable union activity on Thanksgiving at LAX.
Hopefully this isn't a symbol of things to come.
Some links:
Earlier this week, we visited a place that has mastered the art of capitalism: Link here.
Economic news about Black Friday.
Some despicable union activity on Thanksgiving at LAX.
Hopefully this isn't a symbol of things to come.
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