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Friday, June 5, 2020

Exploding US Unemployment Rates: A Peek Inside

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US unemployment rates have reached higher levels, and risen in a way that is more dramatic, than at any time since the start of regular empl...
Thursday, June 4, 2020

Tales of Frank Ramsey: Economics, Wittgenstein, and More

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Economists know Frank Ramsey (1903-1930) mostly through two classic papers written for the Economic Journal in 1927 and 1928, and also as a...
Wednesday, June 3, 2020

Are Firms Too Risk-Averse?

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There's a plausible argument that from the point of view of investors, firms are too risk-averse. After all, an investor can diversify a...
Tuesday, June 2, 2020

Some Economics of the 1968 US Riots

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"The Kerner report was the final report of a commission appointed by the U.S. President Lyndon B. Johnson on July 28, 1967, as a respon...
Monday, June 1, 2020

Sabotaging the Competition: A Home Construction Example

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Why are monopolies bad? In a standard intro-econ textbook, the problem of monopolies is that because of the lack of competition, they can re...
Sunday, May 31, 2020

"To be Happy at Home is the Ultimate Result of All Ambition"

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As the time of recommended stay-at-homes and shutdowns continues, I found myself remembering t his post from a couple of years ago. Being h...
Thursday, May 28, 2020

How Economists and Sociologists See Racial Discrimination Differently

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Economists tend to see discrimination as based on actions of individuals, who in turn are interacting in markets and society. However, socio...