Economists are morally superior beings, scientifically proven that is

A lovely paper discovered by Paul Walker over in the land where Kiwis live standing on their heads: Does an economics education affect an individual’s behavior? It is unclear whether differences in behavior are due to the education or whether those who choose to study economics are different. This issue is addressed using experimental evidence […]

Companies are the cells of the economy

An interesting point being made by Ronald Coase here: Wang: Microeconomics is about demand and supply. Compared with classical economics, marginal analysis clearly offers a deeper understanding of consumer choice. But I don’t think it is equally powerful in explicating production, the supply side of the economy. Coase: To understand production, we have to go […]

I’m not sure the Russians have got the hang of this sanctions thing yet

I’ve been continually amused by the Russian reaction to the sanctions that have been imposed upon the country over Crimea and the Ukraine. First they ban imports of fruit and veg from the EU and US. That’s clearly and obviously something that damages Russian citizens more than it does anyone else. Then there was the […]

An independent Scotland should use the pound without permission from rUK, says new ASI report

Today the Adam Smith Institute has released a new paper: “Quids In: How sterlingization and free banking could help Scotland flourish”, written by Research Director of the Adam Smith Institute, Sam Bowman. Below is a condensed version of the press release; a full version of the press release can be found here. An independent Scotland […]

This train fare question isn’t difficult you know

The Guardian rather jumps the shark here: The Guardian view on rail fares: unfair Travelling by train produces benefits for everyone – less air pollution, lower greenhouse gas emissions, fewer traffic jams. Passengers should not have to pay two-thirds of the cost Actually, a small engined car with four people in it has lower emissions, […]