Robert P. Murphy
Business & Economics
Stimulus spending fails on jobs front
The White House recently announced the results of its stimulus package, billed as instrumental in averting a second Great Depression. In reality, the stimulus has been a profligate flop, even if we take the administration’s numbers at face value. The Web site Recovery.gov breaks down stimulus expenditures and the reported ...
Climate Change
Must… Stop… Reading… Blogs… on… ClimateGate
* First you’ve got this minor IPCC contributing author arguing that big guns Michael Mann, Phil Jones, and Stefan Rahmstorf should be barred from the IPCC process. A good excerpt: I may confirm what has been written in other places: research in some areas of climate science has been and ...
Business & Economics
Buying TVs and cars, Soviet-style
Two new regulations suggest that California leads the nation in mandates that inconvenience its residents while gaining little for the environment. First, consider the California Energy Commission’s unanimous vote Wednesday to effectively ban most current televisions more than 40 inches wide because they use too much electricity. The new energy-efficiency ...
Climate Change
Krugman on Waxman-Markey’s Cost: We Hope His Readers Can’t Multiply
Paul Krugman has been on the warpath lately regarding climate change economics. He has devoted his last two NYT columns (here and here) to the subject, as well as back-to-back blog posts (here and here). True to form, Krugman accuses those who disagree with him of abject stupidity and evil ...
Climate Change
A War on CO2? Civil Libertarians, Beware!
It seems clear that the first major penalty man will have to pay for his rapid consumption of the earth’s nonrenewable resources will be that of having to live in a world where his thoughts and actions are ever more strongly limited, where social organization has become all pervasive, complex, ...
Commentary
Cochrane Threatens Austrians More Than Krugman Ever Did
This is a very short-sighted view. Just because someone gets in a fight with someone who we can’t stand–and I’ve criticized Krugman enough to have credibility on that score–doesn’t mean we should endorse any old arguments. There was quite a bit in Cochrane’s response that should alarm an Austrian economist, ...
Agriculture
Labor Day fix: cut taxes, spending, regulation
For Californians, this Labor Day may not be a cause for celebration. The federal government recently reported that the state’s unemployment rate reached 11.9 percent in July, its highest level in more than four decades. Many have blamed the ailing national economy for these dismal jobs numbers. Although there is ...
Business & Economics
Even When Krugman’s Right, He’s Wrong
In other words, Krugman’s enemies–Eugene Fama and John Cochrane–use invalid arguments but reach a true conclusion, namely that big government deficits don’t help an economy in recession. So here’s Krugman’s opening paragraph: Brad DeLong is upset about the stuff coming out of Chicago these days — and understandably so. First ...
Business & Economics
The Golden State’s Golden Tax Opportunity
Next month, California legislators may have the opportunity for a long-term solution to the Golden State’s notorious boom-bust cycle, currently in its “bust” stage. A state commission launched by Governor Arnold Schwarzenegger may recommend a flat tax on income, which would stabilize revenue and help launch a recovery. If so, ...
Business & Economics
How California Can Avoid a Sequel of the Budget Crisis
At long last Gov. Arnold Schwarzenegger has signed the budget, but Californians may want to hold off on any celebration. The blockbuster $84.6 billion deal is packed with accounting tricks that virtually guarantee a sequel of the crisis. A long-term solution could be at hand, but only if legislators come ...
Stimulus spending fails on jobs front
The White House recently announced the results of its stimulus package, billed as instrumental in averting a second Great Depression. In reality, the stimulus has been a profligate flop, even if we take the administration’s numbers at face value. The Web site Recovery.gov breaks down stimulus expenditures and the reported ...
Must… Stop… Reading… Blogs… on… ClimateGate
* First you’ve got this minor IPCC contributing author arguing that big guns Michael Mann, Phil Jones, and Stefan Rahmstorf should be barred from the IPCC process. A good excerpt: I may confirm what has been written in other places: research in some areas of climate science has been and ...
Buying TVs and cars, Soviet-style
Two new regulations suggest that California leads the nation in mandates that inconvenience its residents while gaining little for the environment. First, consider the California Energy Commission’s unanimous vote Wednesday to effectively ban most current televisions more than 40 inches wide because they use too much electricity. The new energy-efficiency ...
Krugman on Waxman-Markey’s Cost: We Hope His Readers Can’t Multiply
Paul Krugman has been on the warpath lately regarding climate change economics. He has devoted his last two NYT columns (here and here) to the subject, as well as back-to-back blog posts (here and here). True to form, Krugman accuses those who disagree with him of abject stupidity and evil ...
A War on CO2? Civil Libertarians, Beware!
It seems clear that the first major penalty man will have to pay for his rapid consumption of the earth’s nonrenewable resources will be that of having to live in a world where his thoughts and actions are ever more strongly limited, where social organization has become all pervasive, complex, ...
Cochrane Threatens Austrians More Than Krugman Ever Did
This is a very short-sighted view. Just because someone gets in a fight with someone who we can’t stand–and I’ve criticized Krugman enough to have credibility on that score–doesn’t mean we should endorse any old arguments. There was quite a bit in Cochrane’s response that should alarm an Austrian economist, ...
Labor Day fix: cut taxes, spending, regulation
For Californians, this Labor Day may not be a cause for celebration. The federal government recently reported that the state’s unemployment rate reached 11.9 percent in July, its highest level in more than four decades. Many have blamed the ailing national economy for these dismal jobs numbers. Although there is ...
Even When Krugman’s Right, He’s Wrong
In other words, Krugman’s enemies–Eugene Fama and John Cochrane–use invalid arguments but reach a true conclusion, namely that big government deficits don’t help an economy in recession. So here’s Krugman’s opening paragraph: Brad DeLong is upset about the stuff coming out of Chicago these days — and understandably so. First ...
The Golden State’s Golden Tax Opportunity
Next month, California legislators may have the opportunity for a long-term solution to the Golden State’s notorious boom-bust cycle, currently in its “bust” stage. A state commission launched by Governor Arnold Schwarzenegger may recommend a flat tax on income, which would stabilize revenue and help launch a recovery. If so, ...
How California Can Avoid a Sequel of the Budget Crisis
At long last Gov. Arnold Schwarzenegger has signed the budget, but Californians may want to hold off on any celebration. The blockbuster $84.6 billion deal is packed with accounting tricks that virtually guarantee a sequel of the crisis. A long-term solution could be at hand, but only if legislators come ...
