This article discusses notions of economic efficiency, notes a main one employed by applied economists to be Kaldor-Hicks efficiency, and discusses a few issues with that concept. Here are some kinds of economic efficiency: Pareto efficiency – loved by theorists but not feasible It means a move which improves utility of at least one agent … Read more Kaldor-Hicks Problems
Standard microeconomics includes a discussion on the Hicksian demand curve. This article extends a similar analysis to establish a post-Beckerian framework for the analysis of preference change. A big shoutout to Desmos which was used to create all of the graphs this post will contain. The series will proceed as follows: Overview and Motivation Assigning … Read more The Preference Elasticity of Demand: Overview and Motivation
This article will argue that it is possible the government shutdown was actually good for the job market. Washington Post and many others report that in the month of October the US economy picked up tens of thousands of jobs more than were expected. The article goes on to talk about how the official unemployment … Read more Was the Government Shutdown Good for the Job Market?
This article will rigorously define, compare and contrast organizations and institutions. This article is a bit long but worth the read. It is an improved version of part of a paper I wrote for a public policy class during graduate school. The paper received an A- and I am confident it would have been an … Read more Organizations and Institutions
This article will argue that information is heterogeneous. It will further argue that a particular kind of information is moral information and that information is a key driver of consumer and producer preference. These preferential changes can result in significant shifts of entire supply and demand curves. Let’s say you are told something. You are … Read more The Importance of Moral Information
This recent article from Wamda laid out 5 things that bitcoin needs in order to grow adoption in emerging markets. I disagree with most of what was written. In this article I will show why those 5 issues have already been resolved. Finally, I will reveal the only 1 thing that I see bitcoin needing … Read more 1 Thing That Will Explode Bitcoin Adoption