…to workers makes every generation better off and is a Pareto improvement. In general in public economics a reform is said to increase efficiency if it is possible to combine…

…employment is Pareto inefficient. It makes sense to specify wages and the level of production (firms must produce more than the amount that maximizes profits given wages). If unions have…

…this planet). The logic is largely based on models in which market outcomes are Pareto efficient, so the only thing wrong with them is that the distribution of income and…

…them.) 2.Obama’s proposed chained-CPI cut would typically reduce benefits for 3 percent, and by as much as 6 percent for some recipients. 3.The White House’s decision to label this cut…

…also added the final two sentences. The post is a followup to a post from earlier Friday. I’ve also created an additional label: mainstream-journalism gimmickry. I’ve left the original rather…

…and since then, models have proliferated, transforming the name “Smith and Wesson .38” into a generic label for a particular style of gun, even clones that aren’t made by Smith…

…benefits in exchange for the pittance of slightly higher taxes on the upper crust. The article goes even further astray at the end with its label of a “two-part deal”…

…the right to set the tone of the dialogue by letting them label the current situation. We aren’t facing a “fiscal cliff”, he notes, but rather an “austerity bomb”. [The…

…not only a great read but also a revealing informational source on the changes in the American polity, she does note the label he attaches to the right-wing resurgence (“breadwinner…

…still be some private label issues and they will be crowded out and, more importantly, the whole point is to get more mortgages written (either for new purchases or refinancing)….