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Dave
Living the good life near Zion National Park.
Recent Activity
An important point to get across in economics is three-fold: 1) monopolists are everywhere, 2) most of them aren’t profitable, and so 3) they don’t stay open. The example I often give in class is that I am a monopoly... Continue reading
Posted 5 days ago at voluntaryXchange
An important point to get across in economics is three-fold: 1) monopolists are everywhere, 2) most of them aren’t profitable, and so 3) they don’t stay open. The example I often give in class is that I am a monopoly provider of my own hip-hop music (videos and clothing too... Continue reading
Posted 5 days ago at Tufte's Curated Economics Podcasts
Ya’ know, I’d noticed this, but it hadn’t bugged me. Then a student asked if I could fix it. Way back when, I’m sure that Excel only opened up one spreadsheet at a time. Then at some point they allowed... Continue reading
Posted Jan 15, 2015 at voluntaryXchange
How do you tell if a number can be divided by 7? Check out this "divisibility graph" from David Wilson writing at Tanya Khovanova's Math Blog. This method ends up working out kind of like a kids board game like... Continue reading
Posted Jan 14, 2015 at voluntaryXchange
I’m not going to claim that Japan is in great macroeconomic shape. In per capita terms, the country may not have peaked around 1990, but there certainly was a big kink in growth rates that occurred at that time. And... Continue reading
Posted Jan 2, 2015 at voluntaryXchange
We’ve always done it this way is already a part of my “What Makes Macro So Hard” lectures. This one is subtly different: presenting the way we’ve always done things as something new. Essentially … regifting. Here’s Thomas Sowell discussing... Continue reading
Posted Jan 2, 2015 at voluntaryXchange
From Esther Inglis-Arkell: Homeopathy claims water can cure you, because it once held medicine. That's like saying you can eat off an empty plate because it once held food. Cut it out, people! Homeopathic products are remarkably common in health... Continue reading
Posted Dec 31, 2014 at voluntaryXchange
Alex Tabarrok nails it: We would be very much the poorer, if all useful goods were expensive and only useless goods were cheap. Keep this in mind the next time someone remarks that hamburger flippers should be paid more and... Continue reading
Posted Dec 30, 2014 at voluntaryXchange
Here’s a short video about Utah’s most famous piece of landscape art: Jetty from VITA BREVIS FILMS on Vimeo. The video is of fairly recent vintage: the jetty has no water around it at all. It emerged from the lake... Continue reading
Posted Dec 29, 2014 at voluntaryXchange
Liberal is a loaded word where I teach. That’s at Southern Utah University. Utah is, of course, the most (or second-most) staunchly Republican state in the country. And “liberal” is an epithet applied widely by Republicans to positions they don’t like. The thing is, SUU was designated as the “liberal... Continue reading
Posted Dec 21, 2014 at Tufte's Curated Economics Videos
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Better analysis than I can provide is available at Eclectecon. It shows two things in “Marginal Cost of Oil Production”. The first is a chart of what prices are needed to justify the addition of new sources to global supply:... Continue reading
Posted Dec 19, 2014 at voluntaryXchange
You know on old books, the paisley sort of patterns on the end papers? It’s called marbled paper, and at least in this 50 year old video, every sheet was bespoke. Who knew? Anyway, the first half of the video... Continue reading
Posted Dec 19, 2014 at voluntaryXchange
Fermi proposed his paradox: if the universe is so big that life must be common, where is everyone? Robin Hanson answers that directly: there’s something filtering out civilizations across the universe. There’s a pretty chilling two-way conclusion to all this:... Continue reading
Posted Dec 18, 2014 at voluntaryXchange
The Economist have been on top of this for about a month. ... But the central bank exaggerates the reserves at its disposal. About $170 billion of its assets sit in two giant wealth funds, the Reserve Fund and the... Continue reading
Posted Dec 17, 2014 at voluntaryXchange
This came through on The Guardian's live blog of the ongoing Russian currency crisis about 7 hours ago: Timothy Ash, an analyst at Standard Bank, is astonished by the news that the Russian finance ministry will deploy around $7bn of... Continue reading
Posted Dec 17, 2014 at voluntaryXchange
It doesn’t come up much, but π does come up occasionally in more advanced economics. In my experience, this has been in working with difference equations, and with spectral/frequency analysis … both applications of time series. It turns out in... Continue reading
Posted Dec 13, 2014 at voluntaryXchange
It doesn’t come up much, but π does come up occasionally in more advanced economics. In my experience, this has been in working with difference equations, and with spectral/frequency analysis … both applications of time series. It turns out in... Continue reading
Posted Dec 13, 2014 at voluntaryXchange
It doesn’t come up much, but π does come up occasionally in more advanced economics. In my experience, this has been in working with difference equations, and with spectral/frequency analysis … both applications of time series. It turns out in math (and the economics that uses that math) that π... Continue reading
Posted Dec 13, 2014 at Tufte's Curated Economics Podcasts
One Seinfeld story arc that has macroeconomic implications that is not on the Economics of Seinfeld site involves George collecting unemployment.* The way that unemployment works is that to collect, you have to demonstrate that 1) you aren’t employed, and... Continue reading
Posted Dec 13, 2014 at voluntaryXchange
One Seinfeld story arc that has macroeconomic implications that is not on the Economics of Seinfeld site involves George collecting unemployment.* The way that unemployment works is that to collect, you have to demonstrate that 1) you aren’t employed, and 2) that you’d like to be employed. Demonstrating the first... Continue reading
Posted Dec 12, 2014 at Tufte's Curated Economics Videos
Here’s Thomas Sowell from his book Basic Economics: The fundamental principles of economics are not hard to understand, but they are easy to forget, especially amid the heady rhetoric of politics and the media. [emphasis added] I sometimes think that... Continue reading
Posted Dec 12, 2014 at voluntaryXchange
Technically this is a video, but there’s not much action to watch, so I’ve cross-posted it here from Tufte’s Curated Economics Videos. An 11 minute interview (in English), from Universidad Francisco Marroquin in Guatemala City, with Dan Klein ( an economics professor from George Mason University). The title is “Ideas... Continue reading
Posted Dec 8, 2014 at Tufte's Curated Economics Podcasts
An 11 minute interview (in English), from Universidad Francisco Marroquin in Guatemala City, with Dan Klein ( an economics professor from George Mason University). The title is “Ideas of Adam Smith In the Twenty-First Century”. Technorati Tags: adam,smith,dan,klein Continue reading
Posted Dec 8, 2014 at Tufte's Curated Economics Videos
Seinfeld reruns are on constantly. It turns out that there are already curated video clips at The Economics of Seinfeld from many episodes linked to basic economic ideas. If you know the name of the episode you’re watching you can go straight to the link above. Here’s a chronological list... Continue reading
Posted Dec 8, 2014 at Tufte's Curated Economics Videos
Outside of economics, people present problems with illegal drugs as either a moral or legal issue. This is nonsense. Prohibition of anything that people like is an economic issue, best understood as a way to increase the cost paid by suppliers and the price paid by demanders. If you’re not... Continue reading
Posted Dec 8, 2014 at Tufte's Curated Economics Videos