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Small Steps Toward A Much Better World
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25 мая, 07:42

Why I don’t believe in God

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R., a Catholic and loyal MR reader, emails me: I would be interested in a post explaining why you *don’t* believe in (some form of) God. Not long ago I outlined what I considered to be the best argument for God, and how origin accounts inevitably seem strange to us; I also argued against some […] The post Why I don’t believe in God appeared first on Marginal REVOLUTION.

24 мая, 17:22

My Conversation with Raj Chetty

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Yes, the Raj Chetty.  Here is the transcript and podcast.  As far as I can tell, this is the only coverage of Chetty that covers his entire life and career, including his upbringing, his early life, and the evolution of his career, not to mention his taste in music.  Here is one bit: COWEN: Now […] The post My Conversation with Raj Chetty appeared first on Marginal REVOLUTION.

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24 мая, 14:29

Understanding the Great Depression

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The latest video in our Principles of Macroeconomics course at MRUniversity covers Understanding the Great Depression. I like this video a lot. It starts by illustrating the great fall in aggregate demand using the AD-AS model but also looks at the dust bowl, the Smoot-Hawley tariff and the National Industrial Recovery Act (NRA). The section […] The post Understanding the Great Depression appeared first on Marginal REVOLUTION.

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24 мая, 09:46

Is preventive care worth the cost?

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And here is yet another paper suggesting that medical care, or at least some forms of it, has relatively low marginal value.  The subtitle of this one is “Evidence from Mandatory Checkups in Japan” and the authors are Toshiaki Iizuka, Katsuhiko Nishiyama, Brian Chen, and Karen Eggleston.  Here is the abstract: Using unique individual-level panel […] The post Is preventive care worth the cost? appeared first on Marginal REVOLUTION.

24 мая, 09:38

Pharmaceutical Reciprocity for Canada

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If pharmaceutical reciprocity is a good idea for the United States, it’s a great idea for smaller countries. Indeed, this is mostly what happens in practice, even if not by law, since smaller countries can’t afford or justify the expensive US process. Fred Roeder of the Montreal Economic Institute makes the case for reciprocity in […] The post Pharmaceutical Reciprocity for Canada appeared first on Marginal REVOLUTION.

24 мая, 07:39

On the macroeconomics of Trump’s budget

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That is the topic of my latest Bloomberg column, here is one excerpt: What’s also striking is that, if the Trump budget can work at all, the spending cuts are probably not needed. It would suffice to cut taxes only, and allow the economy to grow out of an even-greater budget deficit. In this regard, […] The post On the macroeconomics of Trump’s budget appeared first on Marginal REVOLUTION.

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23 мая, 20:23

The fiscal future of the West, the culture that is inheritance

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Heaven forbid that people of means should pay for their own health care, what a sensible idea this was: Last week, she [Theresa May] came up with a flawed but constructive answer to the crisis of funding in social care. The elderly would finance their care out of their own estate upon death. The upper […] The post The fiscal future of the West, the culture that is inheritance appeared first on Marginal REVOLUTION.

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23 мая, 19:18

Tuesday assorted links

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1. Justin Fox on West Virginia and the limits of its comeback. 2. The new Hypermind NGDP futures market. 3. Should the federal government cap the research grant indirect cost rate at 10 percent? 4. The blind baseball announcer. 5. NYT update on the weakening of IRBs for the social sciences. 6. “Reports said her […] The post Tuesday assorted links appeared first on Marginal REVOLUTION.

23 мая, 09:19

*Art Collecting Today*

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The author is Doug Woodham, and the subtitle is Market Insights for Everyone Passionate About Art. I liked everything in this book, note that the author is a Ph.d economist, has been a partner for McKinsey and also held a major position for Christie’s. That said, I felt it should have done much more to […] The post *Art Collecting Today* appeared first on Marginal REVOLUTION.

23 мая, 07:35

Is low expected market volatility good for the world but bad for America?

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That is the topic of my latest Bloomberg column, here is one bit, the optimistic part: When observing the evolution of market prices in reaction to Trump, I am currently left with a mix of very optimistic and very pessimistic sentiments. First, the European Union, and not the U.S., really does remain the center of […] The post Is low expected market volatility good for the world but bad for America? appeared first on Marginal REVOLUTION.

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22 мая, 20:50

The culture that is Shanghai

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A storm has erupted in China over its hyper-competitive education system, after oversubscribed private schools in Shanghai sought to filter intake by conducting tests and checks not only on prospective pupils but also parents and grandparents. That is from Emily Feng at the FT, via Dan Wang. The post The culture that is Shanghai appeared first on Marginal REVOLUTION.

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22 мая, 18:35

Monday assorted links

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1. How to make America great again. 2. “We want to give the impression of every aspect of dinosaur life.” 3. “Habitual sub eater may move lunch spot because of Tonawanda resident’s gripe.” 4. Church of England fund is top world performer (FT). 5. Pittsburgh is no longer so thrilled with Uber driverless cars (NYT). […] The post Monday assorted links appeared first on Marginal REVOLUTION.