Monthly Archives: June 2010
An incredibly stupid decision on the 2011 census
There is no exaggerating the boneheadedness of this decision:
We’re frozen at #8 on the Palgrave
The Palgrave Econolog seems to have been frozen since June 16. I shouldn't complain, since this blog is also frozen as ranked 8th out of 456 economics and finance blogs, which is really good, and better than we've ever been, I think. But I do wish the Palgrave would re-start, even if it does mean […]
Confidence: In what?
It's a very old argument, and there's some truth in it. Financial crises and recessions are caused by a loss of confidence. And policies that might normally help end the recession might actually make things worse, if they worsen confidence. Confidence in what? The problem right now is that there is too much confidence: in […]
Waste water
On the streets of Palm Springs, the stores have mister systems, spraying passers by – or an empty sidewalk – with a fine mist. Lurid green lawns are watered in the heat of the day, excess water running off onto the road. None of the hotels we've stayed at – not the Santa Monica eco-friendly […]
The use of knowledge in blogging
The title is a nod to Hayek's famous essay "The use of knowledge in society". I think that essay is the best thing Hayek ever wrote. But I don't really know that, because I haven't read everything Hayek ever wrote. Possibly nobody has read everything Hayek ever wrote (except Hayek, but he's dead). But there […]
Front of the line passes
Universal Studios sells regular passes and 'front of the line' passes. The front of the line passes allow the passholder to go through a special gate and wait in a special 'front of the line' queue. Buying a front of the line pass is rational if: price of front of the line pass – price […]
Sticky wages and unemployment rate differentials
This is a short note to add to Bryan Caplan's note on Tyler Cowen's post on sticky wages. Suppose workers differ in quality, where "quality" is defined as "quality in the eyes of potential employers". In equilibrium there will be an equilibrium relationship between the distribution of wages and quality. Higher quality workers will get […]
Philanthropy and the public good
I'm just back from visiting the Getty Villa and I don't know what to make of it. On the one hand, this is a model of what can be achieved through private philanthropy. J. Paul Getty built the villa to house his collection of Greek and Roman antiquities. The building, grounds, and setting are gorgeous, […]
One of these G7 labour markets is not like the others
The G7 are meeting in Huntsville this weekend, about an hour's drive up Highway 11 from my home town. There's been a certain amount of pre-summit jockeying about what would be on the agenda, but it's hard to see how there's going to be a consensus on the issue of the fiscal 'exit strategy' back […]
Why can’t Canadians get 30 year mortgages (but Americans can)?
The typical Canadian mortgage matures in 5 years or less. Why can't Canadians get (say) 30 year mortgages? I used to think that the answer was "inflation", or "inflation uncertainty". Now I don't. Now I think the answer is "Section 10 of the Canada Interest Act". Which we should abolish. Why can Americans get 30 […]
Worthwhile Canadian Initiative 
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