Tim Worstall

The deluded idea of making sex illegal to buy

Written by | Tuesday 4 March 2014

There are times that I look upon those who would rule us and wonder where the collective IQ leaked out to. This is one such time: they're proposing that it should be made illegal to purchase sex in the United Kingdom.

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A most wonderful example of cause and effect

Written by | Monday 3 March 2014

I have to admit that I just love this story. For it speaks to that terrible problem that we face so often, trying to understand the difference between correlation and cause.

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I find that I've been a Coasean all along

Written by | Sunday 2 March 2014

Anti-dismal has a piece which tells me that, much to my surprise, I've not been a liberatairan, nor a classical liberal, all this time but in one respect at least I've been a Coasean:

 

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Hurrah! There are fewer poor people than we thought

Written by | Friday 28 February 2014

Not all that many people are aware of quite how appallingly bad most economics statistics are. Not in the sense of it's terrible that the numbers are as they are, but that the numbers are generally so shoddily lashed together. And this is obviously going to be even more true in hte poorer parts of the world. A government that hasn't quite worked out how to collect the rubbish isn't going to be all that good at counting the people nor what they do or earn.

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Market competition is how we choose whom to cooperate with

Written by | Thursday 27 February 2014

Eamonn has alerted me to another one of those books on how cooperation is better than competition. We can all guess how it goes:

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Is Ha Joon Chang actually an economist?

Written by | Wednesday 26 February 2014

At least, is Ha Joon Chang an economist with at least a vague familiarity with finance and public markets? I ask because this piece of his is remarkably naive and ill informed:

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Climate change will cause 22,000 murders apparently

Written by | Tuesday 25 February 2014

There's an interesting new piece of research that tells us that climate change is going to cause an extra 22,000 murders in the US over the rest of this century.

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I'm not sure I agree with Gregory Clark on social mobility

Written by | Monday 24 February 2014

Gregory Clark (who you should remember from the excellent "A Farewell to Alms") has some new research out looking at the historic rates of social mobility. A good summation of that is here, in the NY Times. Worth reading that but the short version is that social mobility has been very low across societies and history. The current day is not real change from those historical numbers.

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Of course the Fed knew about the manipulation of LIBOR

Written by | Sunday 23 February 2014

Some seem surprised that the Fed knew about the manipulation of LIBOR way back. To which I would respond that of course they did. Everyone knew about it.

Or perhaps I should point out that everyone knew about one set of that manipulation, for there were (allegedly) two.

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