Markets Find a WayMore
Markets Find a WayMore
A Harvard survey last month found that a slim majority of millennials reject capitalism, and with the quality of media reporting about business and the economy, it’s not hard to guess why. (Not to mention the pitiful state of economics education in public high schools.) The Washington Post published a story today that perfectly illustrates the extent of the problem in a single sentence.
The story is about single women in China who have passed their early 20s without a husband, which they say brings shame to their families and have turned to “love markets” as a last resort. Turns out that some entrepreneurs have started companies to help these women find husbands. These are more than dating websites. The companies train the women in man-finding techniques and search cities to help them locate eligible men.More
Here’s a bit of trivia: New Hampshire’s tallest building was erected by a general contractor unlicensed by the state. Before you decide to avoid forever Manchester’s 20-story City Hall Plaza, you should know no building in the state, including every house, was built by a state-licensed general contractor — because New Hampshire doesn’t license general contractors. I’ll be focusing on New Hampshire here, but the crazy quilt of occupational licenses smothers opportunity in every state.
The state doesn’t license carpenters, auto mechanics, welders or asphalt layers either. Yet your home does not fall apart, commercial buildings don’t tumble down, roads don’t dissolve in the rain.More
I didn’t want to duplicate anything that had been was written already. It took a while but I read all the comments on Should Conservatives Sue Private Media Companies.
I think people are looking at this the wrong way. Yes, YouTube is a private company, but that isn’t the only consideration at play. Like everyone else, I don’t buy the public forum argument against viewpoint discrimination, unless there’s relevant state law in California on the matter (which was alluded to) or unless there’s evidence that YouTube is using its near monopoly in a way that unfairly stifles competition and violates antitrust law. However, the question isn’t, “did YouTube violate the First Amendment?” The First Amendment case is just one argument PragerU makes in their brief (and the question is about suing).More
Early on in one of my harder math courses at the university, the professor stood up in front of the room, writing on a chalkboard. He proved that all possible problems of the class we were studying had a solution. He was quick to point out though, that no one was guaranteeing that you could find it. I spent the rest of that semester increasingly frantic as I couldn’t find those solutions.
All too often, when presented with a problem, conservatives will wave our hands and say “the market will provide a solution.” The certainty of our inevitable triumph absolves us of any need to bother with anything in the meantime. And make no mistake; I believe in the inevitable triumph of market forces as much as anyone. But we should spend a little time thinking about what all that implies.More
After the Brexit vote, the markets crashed. I know it’s true, cuz the media told me so. In fact, they didn’t just crash. It was the werst crash evah! Ferget about retiring any time soon. Brexit wiped out yer investments. Just look at how far the UK stock market (FTSE 100) dropped in the 48 hours after […]
This week normally would be relatively benign from a financial market perspective. However, recent conduct and contradictions by Federal Reserve Open Market Committee (FOMC) members and Federal Reserve Bank Presidents and CEO’s makes any week with economic announcements treacherous so we approach this week long cash and caution. Monday February 4th More
The title of this post comes from David Zetland, as quoted in Ron Bailey’s recent book The End of Doom. It came to mind when I was thinking about this analysis of the minimal hit to California’s economy resulting from the drought: Second, within agriculture, roughly 80-90 percent of employment and revenues are from higher-valued crops […]
Last year, the comedy duo Key & Peele’s TeachingCenter sketch imagined what it would be like if teachers were treated like pro-athletes, earning millions, being drafted in widely televised events, and starring in car commercials. We’re not likely to see the latter two anytime soon, but some teachers are already earning seven figures.More
In my new The Week column, I highlight the weakness of three key policies — tax increases, raising the minimum wage, and universal preschool — in Hillary Clinton’s anti-inequality agenda. But the bigger point is that Clinton should focus more intently on policies to boost economic growth, rather than redistribute it. After all, it looks like the US economy (again) didn’t grow much more than 2 percent last year, according to official stats — with 2016 looking like more of the same. Even worse, right now it looks like a recession is more likely than a growth spurt.
William Galston makes a similar point in the WSJ, arguing that early in the Clinton campaign, “she delivered a well-crafted speech outlining her strategy for creating strong, sustained and inclusive growth. … Since then, however, she has been busy immunizing herself against attacks from the left, pursuing transactional politics with the Democratic Party base.” In short, blame Bernie.More
Writing in The Globe and Mail, Margaret Wente describes the cap-and-trade system that Ontario joined with California and Québec: If you want to put a tax on greenhouse gas emissions, there’s an easy way to do it. You implement a carbon tax, like British Columbia did, and add it to the price of gasoline and […]
As stocks endure their worst correction since 2011, and the battle between Fed doves and hawks rages on over a quarter-of-a-percentage-point rate liftoff, the much-anticipated August employment numbers made for a surprisingly mediocre report.
Nonfarm payrolls came in below consensus at 173,000. But private payrolls increased only 140,000, the smallest gain in five months. Compared with the average post-1960 recoveries, private-sector jobs are nearly 6 million below that long-run trend line.More
The website spiked-online.com has an interesting thought experiment: could Charlie Hebdo have published in Great Britain, that ancient bastion of free speech and an independent press?
They come to answer in the negative, because complaints from all sorts of left-wing groups would pressure organizations to refrain from carrying the magazine, and it would have gone under from lack of revenue.More
What is the difference between this shell and one sold in a shop? More
With the Ebola virus making its first appearance on America’s shores in an effort to aid two American doctors who have become infected with the disease, frightened citizens have begun scouring the internet for any information they can gather. Unsure what the virus wants, or whether it will beat them up before taking their lunch money, some desperate souls have turned to Vox, the world’s foremost explainer of things that require little explanation.
To no one’s surprise, greedy corporations are the root of all evil.More