Tim Worstall

Err, no, this is a solution to the problem being described, not a problem in itself

Written by | Friday 24 January 2014

I have promised Madsen that I won't talk about Richard Murphy here too often. And this is one of those "not too" moments for he's provided us with a target rich environment. Murphy is arguing that corporations are piling up cash, cash which they don't know what to do with. Therefore mutter mutter higher taxes!

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Explaining the boom in the profit share in the US economy

Written by | Thursday 23 January 2014

That chart is of corporate profits in the US economy as a percentage of GDP. And it's the cause of much muttering: see how the little guy is getting screwed over by the corporate giants etc.

But we also need to add this little observation to it:

it is important to realize that around 50 percent of the SP500′s earnings are generated overseas

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The machines are going to steal all our jobs!

Written by | Wednesday 22 January 2014

The Economist has another of those breathless pieces worrying about what's going to happen when the robots come for all our jobs. There's one basic error in the piece and one slightly more technical.

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On why I just love the latest Oxfam report

Written by | Tuesday 21 January 2014

You'll have seen the stories about this latest Oxfam report all over the place. The bottom 50% of the world has the same wealth as the top 85 people etc. This is presented as if it's an obviously bad thing and yet I cannot quite bring myself to agree with that conclusion. Here's the list of evidence they compile:

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On why the US should have a market for kidney transplants

Written by | Monday 20 January 2014

The second installment of my finding my extant prejudices supported by Gary Becker. This time it's his excellent article about the reasons why the US should have a paid market for kidney transplants. This is something I've written about here (and elsewhere) in our own UK experience so it's nice to see the work being done all over again for the US.

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Gary Becker on bureaucracies

Written by | Sunday 19 January 2014

It's rather comforting to find one of your own heartlfelt prejudices backed up by a man with a Nobel, as I do here with Gary Becker's thoughts on the existence of bureaucracies:

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It could be that climate change just isn't worth worrying about

Written by | Saturday 18 January 2014

As you all know I'm perfectly willing to go along with the idea that climate change is indeed a problem that we are doing something about and that that something should be a carbon tax. All of this being based on the dual points that I know nothing about the science of all of this but a great deal about the economics. So, if the scientists tell me that it's happening then OK, here's what we should do about it.

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People just aren't as stupid as the bureaucrats think

Written by | Friday 17 January 2014

It's claimed as one of the great victories for enlightened (sorry) regulation, the way that the EU and US have both banned the incandescent light bulb through bureaucratic action. The ban came about by raising the efficiency standards required: this meant that the traditional bulb could no longer be sold.

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I do wish that people would make up their minds and be consistent

Written by | Wednesday 15 January 2014

Yes, I know, forlon hope given the combination of politics and non-godly religion here, but I do wish that people would be consistent. Given the announcement over the taxation of fracking we're getting the usual complaints from the usual people:

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