…adjusting towards marginal cost times a constant markup factor. It is easy to calculate marginal cost if one assumes a Cobb-Douglas production function, so the marginal product of labor is…

…in the output/hours relationship concealed in a Cobb-Douglas production function with the Robbins/Hicks “simplifying assumption” that the current hours of work are optimal for output, so that any reduction of…

…even on a garden variety aggregate neoclassical production function analysis. Of course, Cobb-Douglas such functions are useless in this matter as they generate constant factor shares. And then there is…

…model First GDP is a standard cobb douglas function of capital and labor. I choose units so 1) GDP = Y = K^alpha L^(1-alpha) so the share of capital is…

Rdan After having received e-mails regarding Mark Thoma’s post on types of unemployment about who was included and excluded from the per centages, I thought a note on the relevance…

Robert Waldmann Don’t say you weren’t warned. I am trying to understand the effects of the switch from mechanically controlled machine tools to electronically controlled machine tools and then to…

…do about health care. Both of them initially, or at least at some point, signed on to the “Medicare-for-all” label for a single payer government run health insurance system that…

…of whether hydroxychloroquine should be prescribed off label based on the in vitro results is not the same as the question of should we be confident that it will work…

Labeling for Increased Profits, Farmer and Economist, Michael Smith It is a well-known marketing ploy to label, relabel, and even mislabel a product again and again to increase sales. We…

…which people can Google that wants us to pay $350 to be able to put their label on our packaging. But nobody knows who the hell they are, and this…