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Small Steps Toward A Much Better World
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28 мая, 21:12

*The Puzzle of Prison Order*

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That is the title of the new and excellent book by David Skarbek, and the subtitle is Why Life Behind Bars Varies Around the World.  Here is part of the Amazon summary of its contents: Many people think prisons are all the same-rows of cells filled with violent men who officials rule with an iron […] The post *The Puzzle of Prison Order* appeared first on Marginal REVOLUTION.

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28 мая, 19:08

Thursday assorted links

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1. Noah interviews Krugman (Bloomberg, substantive, not politics). 2. How to run the NBA playoffs is in fact a social choice problem. 3. “We’re not as wealthy as we thought we were.”  (Who said that again?) 4. Murder rates are rising again. 5. Allison Schrager interviews Kopczuk on wealth taxes. 6. New and still puzzling […] The post Thursday assorted links appeared first on Marginal REVOLUTION.

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28 мая, 14:25

Every Stock is a Vaccine Stock

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Barrons: General Electric stock was racing higher Tuesday, but not because of anything the company did or announced. Recent Covid-19 vaccine news is serving as a catalyst, and every stock these days feels like a vaccine stock. Indeed, every stock is a vaccine stock. When vaccines or other treatments do well, all stocks do well […] The post Every Stock is a Vaccine Stock appeared first on Marginal REVOLUTION.

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28 мая, 08:29

The Spanish-language Kindle edition of *Stubborn Attachments*

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The various subtleties of the title “Stubborn Attachments” do not translate well into Spanish, so here is “El imperativo moral del crecimiento económico: Una visión de una sociedad libre y próspera de individuos responsable.” You can order it here, and I expect a print edition will be coming in due time. I thank all of […] The post The Spanish-language Kindle edition of *Stubborn Attachments* appeared first on Marginal REVOLUTION.

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28 мая, 07:58

*The Deficit Myth* and Modern Monetary Theory

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That is the new book by Stephanie Kelton and the subtitle is Modern Monetary Theory and the Birth of the People’s Economy.  Here are a few observations: 1. Much of it is quite unobjectionable and well-known, dating back to the Bullionist debates or earlier yet.  Yet regularly it flies off the handle and makes unsupported […] The post *The Deficit Myth* and Modern Monetary Theory appeared first on Marginal REVOLUTION.

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27 мая, 20:43

The case for a market allocation of vaccines

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Or a partial such allocation, at least.  Here is my latest Bloomberg column: The renowned economist Erik Brynjolfsson recently asked: “At least so far, I haven’t seen any one suggesting to use the market system to allocate vaccines. Not even those who strongly advocate it in other areas. Why is that?” As one of several people […] The post The case for a market allocation of vaccines appeared first on Marginal REVOLUTION.

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27 мая, 18:49

Wednesday assorted links

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1. Nominal wage flexibility and what it looks like. 2. Alesina overview and tribute. 3. “Reproduction rates seem to stabilize around one, as my little behavioral model suggested.” 4. Being quarantined on arrival in Korea. 5. Only half of Americans would get a Covid-19 vaccine? 6. Estimating the costs of lockdown, often highest for the […] The post Wednesday assorted links appeared first on Marginal REVOLUTION.

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27 мая, 09:22

Will science funding be revolutionized?

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The National Science Foundation (NSF) would get a sweeping remake—including a new name, a huge infusion of cash, and responsibility for maintaining U.S. global leadership in innovation—under bipartisan bills that have just been introduced in both houses of Congress. Many scientific leaders are thrilled that the bills call for giving NSF an additional $100 billion […] The post Will science funding be revolutionized? appeared first on Marginal REVOLUTION.

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27 мая, 07:45

Stansbury and Summers on the declining bargaining power of labor

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In one of the best papers of the year, Anna Stansbury and Larry Summers present what is to me the best non-“Great Stagnation” story of what has gone wrong, and I have read many such accounts.  Here is their abstract: Rising profitability and market valuations of US businesses, sluggish wage growth and a declining labor […] The post Stansbury and Summers on the declining bargaining power of labor appeared first on Marginal REVOLUTION.

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26 мая, 21:33

Our regulatory state is failing us

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You don’t think airlines can just provide hand sanitizer to passengers, do you? On Tuesday the FAA wrote to American Airlines granting permission, and the letter they sent (.pdf) offers a window into process the airline had to go to in order to secure the government’s blessing. Tuesday’s correspondence came from the FAA’s American Airlines […] The post Our regulatory state is failing us appeared first on Marginal REVOLUTION.

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26 мая, 18:33

Tuesday assorted links

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1. Tracing apps are falling away in Australia. 2. Jason Crawford talk on Progress Studies. 3. Many companies are cutting wages rather than laying people off (NYT). 4. Mongolian success in responding to Covid-19. 5. There is an extraordinary boom in New Zealand bookshops. The post Tuesday assorted links appeared first on Marginal REVOLUTION.

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26 мая, 09:08

A weird Lancastrian method for reopening higher education

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I’m not sure this could work, but everyone else is doing weird ideas, so let’s consider another one. Remember Lancastrian methods of education from 19th century England?  Part of the idea was to keep small group size, and economize on labor, by having the students teach each other, typically with the older students instructing the […] The post A weird Lancastrian method for reopening higher education appeared first on Marginal REVOLUTION.