Libertarian paternalism?
I can't figure out this book, but I can't put it down - Thaler and Sunstein can write! Who knew, an economist and a lawyer and they make reference to Homer Simpson to illustrate their idea of . . . choice architecture. Certainly nudge sounds less threatening.
I have to admit, I am constantly risking the thought that I'd love to see a debate between the authors and Robert Higgs.
OK, a blurb from a Nobel Laureate whose work figures prominently in the book.
"How often do you read a book that is both important and amusing, both practical and deep? This gem of a book presents the best idea that has come out of behavioral economics. It is a must-read for anyone who wants to see both our minds and our society working better. It will improve your decisions and it will make the world a better place."-Daniel Kahneman, Princeton University, Nobel Laureate in Economics (Daniel Kahneman )
http://www.nudges.org/
Wednesday, April 15, 2009
Tuesday, April 14, 2009
One Man’s Compliance Cost Is Another Man’s Income
Robert Higgs
Most people probably appreciate that complex tax laws constitute the raison d’etre for several professions, including tax accountants, tax lawyers, and most financial advisers. I would be extremely surprised to find lobbyists for these professions engaged in supporting tax-simplification legislation.
Each year, my accountant sends his customers a tax planner with a cover letter. This year’s letter includes the following paragraph:
There are many new tax laws this year. Every one of the Stimulus, Reform, Recovery, Correction, Relief, Equity, Protection and Prevention Acts contains hundreds of pages of tax law changes. My favorite is the Heartland, Habitat, Harvest & Horticulture Act of 2008, which changes the depreciation rules for race horses. We have reviewed them all and are prepared to take you through this complex mess. It’s not that confusing after you remove the exceptions to the exceptions. IRS is not smart enough to make it really hard.
I have been doing business with this accountant for about thirty years, and in that time his letters have always ended with the same words: God bless the IRS.
Most people probably appreciate that complex tax laws constitute the raison d’etre for several professions, including tax accountants, tax lawyers, and most financial advisers. I would be extremely surprised to find lobbyists for these professions engaged in supporting tax-simplification legislation.
Each year, my accountant sends his customers a tax planner with a cover letter. This year’s letter includes the following paragraph:
There are many new tax laws this year. Every one of the Stimulus, Reform, Recovery, Correction, Relief, Equity, Protection and Prevention Acts contains hundreds of pages of tax law changes. My favorite is the Heartland, Habitat, Harvest & Horticulture Act of 2008, which changes the depreciation rules for race horses. We have reviewed them all and are prepared to take you through this complex mess. It’s not that confusing after you remove the exceptions to the exceptions. IRS is not smart enough to make it really hard.
I have been doing business with this accountant for about thirty years, and in that time his letters have always ended with the same words: God bless the IRS.
Saturday, April 11, 2009
West-Coast Annual Economics Teaching Conference
West-Coast Annual Economics Teaching Conference
Hosted by: The College of Business at the University of Nevada, Reno & McGraw-Hill/Irwin
When: April 16th-18th, 2009
Where: Reno, Nev University of Nevada, Reno
This first annual West Coast Economics Teaching Conference is designed to address the specific interests and needs of teachers of college-level economics. This West Coast conference mirrors the Teaching Economics Conference on the East Coast, which has been held at Robert Morris University for the last 20 years. Past participants represent over 100 colleges and universities from 35 states, the District of Columbia, and Canada.
Hosted by: The College of Business at the University of Nevada, Reno & McGraw-Hill/Irwin
When: April 16th-18th, 2009
Where: Reno, Nev University of Nevada, Reno
This first annual West Coast Economics Teaching Conference is designed to address the specific interests and needs of teachers of college-level economics. This West Coast conference mirrors the Teaching Economics Conference on the East Coast, which has been held at Robert Morris University for the last 20 years. Past participants represent over 100 colleges and universities from 35 states, the District of Columbia, and Canada.
Thursday, April 2, 2009
Micro Contrasted with Macro
March 17, 2009
A Much-Better (but Unfortunately Overlooked) Distinction Between Microeconomics and Macroeconomics
Don Boudreaux
Daniel Kuehn's comments on this post prompt me to reprise this post from September 2005:
Russ Roberts invited me to blog on an unconventional distinction between "microeconomics" and "macroeconomics." Our GMU colleague Dick Wagner alerted me to this distinction, and I find it to be far more helpful than the familiar textbook distinction (which remains, in my view, still a distinction between Alfred Marshall's approach and John Maynard Keynes's approach).
Read on -
http://www.cafehayek.com/hayek/2009/03/the-muchbetter-but-unfortunately-overlooked-distinction-between-microeconomics-and-macroeconomics.html
A Much-Better (but Unfortunately Overlooked) Distinction Between Microeconomics and Macroeconomics
Don Boudreaux
Daniel Kuehn's comments on this post prompt me to reprise this post from September 2005:
Russ Roberts invited me to blog on an unconventional distinction between "microeconomics" and "macroeconomics." Our GMU colleague Dick Wagner alerted me to this distinction, and I find it to be far more helpful than the familiar textbook distinction (which remains, in my view, still a distinction between Alfred Marshall's approach and John Maynard Keynes's approach).
Read on -
http://www.cafehayek.com/hayek/2009/03/the-muchbetter-but-unfortunately-overlooked-distinction-between-microeconomics-and-macroeconomics.html
69th Economic History Association meeting - Sept. 11-13, 2009,
Theme: Human Welfare: Measurement, Analysis and Interpretation
Sept. 11 - 13, 2009 Tucson, Arizona
As is the rule, papers on all subjects in economic history are welcome, but a number of sessions will be devoted to the theme "Human Welfare: Measurement, Analysis and Interpretation." The ultimate goal of economic historians is to illuminate the evolution of human welfare. This year’s theme promotes efforts to unify and to find common denominators in diverse approaches to understanding this central aspect of our past. Measurement is a central concern, even in modern studies of this complex subject. Among the issues to consider are the variety of approaches and how they compare. What was the contribution of improvements in health? Of emancipation or freedom? Of the right to vote? Of moderating the business cycle, or reducing bank failures? Can we estimate the social cost of inequality or crime, and of war, epidemics and other calamities? Of consumer surplus from trade? By how much did technological change improve welfare by making home and market production, as well as travel, easier and safer? What was the cost of isolation, or alternatively the benefit of cheap communication? What are the counterfactuals most suitable for addressing these types of questions?
Sept. 11 - 13, 2009 Tucson, Arizona
As is the rule, papers on all subjects in economic history are welcome, but a number of sessions will be devoted to the theme "Human Welfare: Measurement, Analysis and Interpretation." The ultimate goal of economic historians is to illuminate the evolution of human welfare. This year’s theme promotes efforts to unify and to find common denominators in diverse approaches to understanding this central aspect of our past. Measurement is a central concern, even in modern studies of this complex subject. Among the issues to consider are the variety of approaches and how they compare. What was the contribution of improvements in health? Of emancipation or freedom? Of the right to vote? Of moderating the business cycle, or reducing bank failures? Can we estimate the social cost of inequality or crime, and of war, epidemics and other calamities? Of consumer surplus from trade? By how much did technological change improve welfare by making home and market production, as well as travel, easier and safer? What was the cost of isolation, or alternatively the benefit of cheap communication? What are the counterfactuals most suitable for addressing these types of questions?
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