This post comes by way of Joel Eissenberg’s Facebook blog and is an edited recital of Juan Cole’s presentation at Informed Comment. “Stop Wall Street from Grabbing Traditional Medicare,” F. Douglas Stephenson __________ I am going to add to Joel’s depiction of the future as I too had heard of the coming attempt to force […]
Disposable time as a common-pool resource VII — Common-pool property rights Two key features of Ostrom’s analysis: the distinguishing of a spectrum of separable property rights rather than monolithic “ownership” and the use of a grid that classifies goods according to how difficult it is to restrict access to them and the extent to which […]
More Partsanization Of The Environment The Environmental Protection Agency was founded during the presidency of Republican Richard Nixon, if perhaps with some lack of enthusiasm. The first national cap and trade (or “tradable emissions permits”) system, for SO2, was instituted during the presidency of Republican George H.W. Bush. In 2008, Republican John McCain had an […]
Last night, Professor Heather Cox Richardson discusses the undermining of a citizen’s civil rights by SCOTUS in support of a state law which allows state citizens to infringe upon the rights of other citizens, female citizens within the state even though the actions of the later cause no harm to the former. It is appearing […]
The Great Resignation and jobless claims Initial and continuing jobless claims continue at or near their best levels in the past half-century. Initial claims declined 43,000 to 184,000, a new 50 year low, while the 4 week average declined 21,250 to 218,750, also a new pandemic low, and in the past 50 years only bettered […]
There are to be only three branches of government, the Legislative, the Executive, and the Judicial; so sayeth the Constitution in Articles I, II, and III. A trinity of man, by man. We were among the first to have broken free of that old ruling triad of the Church, the Army, and the King that […]
Farmer and Agricultural Economic Michal Smith I hear this from time to time both at the market and also from the general public even in the agricultural community. It elicits a response longer than what I can usually muster as I pull my quill of sharpened microeconomic arrows of defense around to meet my macroeconomic […]
October JOLTS report: at least the jobs market isn’t getting any worse in disequilibrium The JOLTS report for October was released this morning. While it did not indicate any significant progress towards a new labor equilibrium, at least the trends did not get any more destabilized. Job openings (blue in the graph below) increased to […]
Disposable time as a common-pool resource V — Social costs and common-pool resources The basic idea behind common-pool resources also has a venerable place in the history of classical political economy and neoclassical economic thought. In the second edition of his Principles of Political Economy, Henry Sidgwick observed that “private enterprise may sometimes be socially uneconomical […]