To understand what a market failure is, you first need to understand the market successes.
In which I outline an eight-part series on how markets can fail, and what to do about it.
Properly understood, carried interest is a return on capital. Dave brings a unique perspective to the carried interest debate.
Alphabet is about Google not becoming Microsoft.
It doesn’t go well for VW.
Reflections on of a very good book about the financial crisis
This essay is about reading gay porn before class. And it resurrects an Ideological Outrage Of The Day from 2012. And a graphic novel. And striking out romantically. And Richard Dawkins.
A modest proposal for media organizations
Chinese people don’t want Chinese Barbies.
A double-edged safety razor is actually less fussy than the alternatives.
The merits of playing with loose parts seems oversold.
Looking in vain for ChinesePod’s pedagogical philosophy.
Something about path dependence
World governance is something no serious thinker would today endorse. This is unfortunate, because world government is the only hope for the long-term survival of the human race.
Short sellers helped focus attention on the practices of Lumber Liquidators.
How to get into an elite college while Asian
“Well-rounded” may not mean what you think it means.
I used to think Target was way cooler than it’s rival Walmart. I don’t think that way anymore.
It’s not news that adjunct professors don’t get paid a lot. But it is at least remarkable when life imitates Breaking Bad.
Hernando de Soto’s The Other Path illustrates how private transit services served the public’s needs and turned a profit.
Service providers need to decide whether they are impediments or helpers for their customers.
Linky Friday: categories this week are sports and culture, art and nature, economics and politics, and war and peace.
Do you have a right to a product that must be provided to you through governmental coercion?
Noam Scheiber makes a radical suggestion. Eric Posner has lots of reasons why it’ll never work. Burt Likko says, “There’s a few things neither of you bright fellows have thought of.”
In a piece called “Robots Undercut the Case for More Immigrants” (seriously), David Frum argues that we shouldn’t let too many immigrants into the country because they will just be replaced by robots and therefore languish in intractable poverty.
This is wrong.
I have a piece up at the Atlantic called “What’s Really Behind the Ever-Rising Cost of Raising a Child in America“. You should go read (and comment) there. To summarize: the cost of raising a child has increased substantially since 1960, but almost all of this increase is in areas such as education and health…
Both of my parents worked for General Motors “on the line” as they say. When I was about nine, Mom was out of work for two years because of muscle problems. Dad has similar issues when I was a sophomore in high school which meant time off from the factory. Working on the line was…
(The above is a screenshot of the Atlantic’s homepage taken March 10th around 11:30PM. A recap of SNL skits sits next to an article about nuclear war and above a photo series depiciting international struggles against gender inequality.) The issue of freelancing for, well, free, and the economics surrounding journalism, writing, blogging and “content creation,”…
My regular readers are aware that I am deeply irritated by what I see as a sort of New Orientalism creeping into discourse regarding the rise of East Asia as the center of global economic power. But even a stopped (and paranoid) clock can be right twice a day, and Eamonn Fingleton is right that…
As promised here are two cases from Avlis of magic equipped societies. I will begin with a (moderately) short description of each state, then compare the place of magic and its political economy. This post is meant as a sketch, with further development and detail to be presented based on comments received. If there are…
Author’s Note: This post is a follow-up to my original post on the political economy of magic. It’s highly recommended that you read that original post and the discussion thread after. I’m happy to see my original post spawned a slew of discussion. I found it interesting how the concerns raised by a commentariat at…
Reading through Taylor Martin’s excellent blog pointed me in the direction of a Dan Nexon post at the Duck of Minerva. Both Martin and Nexon have interesting takes on George R.R. Martin’s A Song of Ice and Fire (a League contributor favorite), but it was a throwaway line by Nexon that caught my eye. …let’s not even…
On Romanticism in Politics Romanticism is wonderful in a work of fiction, art or video game. As a died-in-the-wool modern day romantic, I’ve spent most of my life doing my best to use fantasy novels, role-playing-games, and other modes of escape to travel to other worlds. This world can feel awfully pale and insubstantial at…
By M.A. Note: This post is part of our League Symposium on inequality. You can read the introductory post for the Symposium here. To see a list of all posts in the Symposium so far, click here. In the discussion of inequality by Roger, the issue of the Rector Testimony is brought up. Rector is a Heritage Foundation… employee… who…
By M.A. Note: This post is part of our League Symposium on inequality. You can read the introductory post for the Symposium here. To see a list of all posts in the Symposium so far, click here. Mark Thompson’s column, “Why Inequality Might Matter“, gave a good start to addressing the issues of financial (income or wealth)…