John Graunt’s Natural and Political Observations on the Bills of Mortality (1662) is acknowledged as the inaugural text of “political arithmetick.” Graunt is ranked along with William Petty, Charles Davenant and Gregory King as a major pioneer of “the art of reasoning by figures, upon things relating to government.” In their Outline of the History […]
“A certain proportion of work to be done”: How John Graunt invented economics
Cash for Criminals
by Mike Kimel Here’s a CNN story on “Cash for Criminals”: And so Operation Peacemaker was born. Loosely based on an academic fellowship, the ONS program invites some of the most hardened youth into the fold: often teenage boys suspected of violent crimes but whom authorities don’t have enough evidence to charge criminally. These fellows […]
Child Labor Defended by the Left
by Peter Dorman (from Econospeak) Child Labor Defended by the Left Well, some of the left, but they probably represent the main currents of progressive thought among intellectuals. Those who not part of the charmed circle of researchers, activists and policy-makers in the realm of child labor may not know that a storm has been […]
You Grow the Pie?
by Sandwichman The New York Times recycles boilerplate nonsense: YOUR MONEY: Disproving Beliefs About the Economy and Aging. The notion that the job market is a zero sum game — more jobs for one group translates into fewer jobs for another group — is deeply ingrained. Economists call the belief that there are only so […]
Why hasn’t increased household formation led to increased housing construction?
by New Deal democrat Why hasn’t increased household formation led to increased housing construction? Tim Taylor has an interesting article about “What was different about housing this time?” Specifically, why has housing in both building terms and as a share of GDP risen so slowly since 2009. To cut to the chase, he writes that […]
Open thread May 20, 2016
Aside from a shortage in starter housing for Millennials,there is NO inflation
by New Deal democrat Aside from a shortage in starter housing for Millennials,there is NO inflation Yesterday’s CPI report seems to be read as potentially justifying an interest rate increase in June. For example, here’s Professor Tim Duy, on Fed hawks: Inflation rose on the back of higher gas prices. Headline CPI gained 0.4 percent, […]
Trump Falls to His Knees PLEEEADING for Republican ESTABLISHMENT Donors to Fund His Campaign—Offering Them the Ultimate Gift: Supreme Court Proxies. Toldya.
Tomorrow, behind closed doors with Paul Ryan & Friends, he will swear fealty to Mitt Romney’s platform. And not just the part written literally, it turns out, by the Heritage Foundation and CNBC! Also the part written by the Federalist Society. Including on Supreme Court and lower-court appointments. Suffice it to say that his promise to […]
Major Foreign Holders of U.S. Treasuries: now with greater country breakouts
MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES (in billions of dollars) Don’t have a lot to say except to note that previous versions of this table lumped together “Oil Producers” and “Caribbean Banking Centers” while this disaggregates them. This leaves the Cayman Islands in third place at $265 bn while putting Saudi Arabia down to 13th […]