More Bad, Leftist Economics

We have 2 new exhibits today that leftist economics continues to produce poor conclusions, from both positive and normative perspectives.   Case 1: NASA is inefficient, but government apologists aren’t concerned Senator Tom Coburn (R-OK) puts out an annual Wastebook which covers various ways in which the government wastes money. A recent article discussed Coburn’s … Read more More Bad, Leftist Economics

Advancing Human Capital Evaluation

In the past, I have written quite a bit about an education evaluation tool called Degreed, both lauding and criticizing the service in different ways. Some of the criticisms are beginning to be addressed, although they are being addressed by the market at large, including competitors, rather than Degreed itself. Test-Based Online Credentials are where … Read more Advancing Human Capital Evaluation

An Easy Argument for Anarchy

This argument is related to the historical notion of secession and it comes in the form of a quote from Chapter 13 of Man, Economy, and State by Rothbard: It is all the more curious, incidentally, that while laissez-faireists should by the logic of their position, be ardent believers in a single, unified world government, … Read more An Easy Argument for Anarchy

Income Inequality and Poverty

Quote 1: “We have tentatively suggested that steep progressive taxation, by reducing the rate of wealth accumulation, has yet prevented the large fortunes to recover fully from these shock.” Income Inequality in the United States. Piketty and Saez. In my reading of this article, Piketty seems to do a great job of demonstrating the fact … Read more Income Inequality and Poverty

The Halo Effect and Unconscious Accuracy

The Halo Effect is a cognitive bias in which a person, A, is more likely to believe that another person, B, is good in some respect, D, if they are known to be good in some other respect, C, even in the absence of independent or observed evidence that B is in fact good with … Read more The Halo Effect and Unconscious Accuracy

8 Approaches to Solve the Ebola Crisis (Update: Now 10)

Physical – Quarantine works for Ebola. It dies off after 15 days or so. Thermodynamic – Burn infected people. Not preferable, but effective. Temperature shock – It may be the case that forcing a person into deep hypothermia then resuscitating them would allow the Ebola to die off due to temperature shock. I’m not confident … Read more 8 Approaches to Solve the Ebola Crisis (Update: Now 10)

The Preference Revelation Problem

The preference revelation problem is the problem government has in determining the preferences of individuals. Preferences are usually discovered either by survey or by revealed preference. Markets obtain revealed preference information more easily and in a relatively less costly fashion. Information derived from revealed preference is ideal as it is less subject to bias and … Read more The Preference Revelation Problem

Reza’s Just Wrong

Here’s the clip:   Reza attempts to defend Islam by attacking the negative portrayal of Muslim nations as painting with a broad brush, stereotyping, and simply being empirically incorrect. The problem is that Reza is empirically incorrect. He’s right that female circumcision, also called female genital mutiliation (FGM/C) is practiced in a couple Christian nations … Read more Reza’s Just Wrong