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When it comes to “potential output” there is often a view that the economies potential to produce is determined by the labour, land, and forms of capital that are available to create this output from – and this is right! Furthermore, each of these factors tends to produce a diminishing amount of additional output as […]
During the World Cup, I keep seeing images like the following. It is interesting, there is a lot of play acting in the masterful sport that is Football. It is a pity, as if players just got on with the game we would see longer periods of amazing skill and tactical insights. However
Let’s mix it up with some videos: There are few songs that illustrate the fact that labour-leisure trade-offs differ between individuals than “Me and Bobby McGee”
While the blog was out of action I noticed a lot of people linking the following article by Andrew Dickson and Bill Kaye-Blake (from Groping to Bethlehem). All the links focused on how the article made the case for a tax on sugar. That is fine and all, it was an externality case that we […]
Hi everyone. I’m really sorry about the fact the site has been down over the past couple of weeks, we had issues with our old host disappearing! NZAE 2014 is taking place at the moment, with the details here and the hashtag rolling here. I suggest using the hashtag for everything remotely economics related for […]
More inequality – I’m trying to flip between the extreme assumptions from both sides: Focusing on inequality is a substitute for thinking about poverty, opportunity, and capabilities. As a result, the demand for dealing with inequality is no more than a push to ignore the actual drivers of social injustice.