03 January 2012

Anything but water

  • Marginal Revolution's top ten posts for 2011 (MR is the best economics blog)

  • You won't be jealous of China if you consider where they came from; should you be depressed about where we are vs. where we were headed? I am in terms of lost opportunities and bad policies but not when factoring in human venality and political corruption. Speaking of which, US debt (a stock/liability) now exceeds GDP (a flow/income). Time to cut back some of that military spending?

  • Good news: Congress kills ethanol subsidy and tariff. Bad news: Volumetric minimums for ethanol in fuel will keep demand artificially high. So the environmental and economic destruction will continue.

  • This is interesting: Coyote (libertarian blog) claims that this video shows that environmentalists are falsifying science to make money for themselves. Given its one minute duration, I came to a different conclusion, i.e., "These guys are not talking about money for themselves, but money from a lawsuit, which may go to many people (some will go to them). They are just trying to do WHAT ACADEMICS ALWAYS DO, which is to argue what should be happening when NOBODY has any evidence of what's actually happening."

  • Speaking of which, this nice comment on what it's like having a deep understanding of mathematics matches my feelings on how I look at economic problems (I've been thinking "economics" for most of my life. Seriously.)
H/T to WM

1 comment:

  1. tyler at MR is waaaaaaay too sensitive. also, this quote by kthug is spot on (i don't agree with him all the time but he's right about this):
    "Look, economic policy matters. It matters for real people who suffer real consequences when we get it wrong. If I believe that the doctrine of expansionary austerity is all wrong, or that the Ryan plan for Medicare would have disastrous effects, or whatever, then my duty, as I see it, is to make my case as best I honestly can — not put on a decorous show of civilized discussion that pretends that there aren’t hired guns posing as analysts, and spares the feelings of people who are not in danger of losing their jobs or their health care.
    This is not a game."

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