Discussion Tuesday
From some lecture notes by David Autor:
It’s nearly impossible to overstate the value that economists ascribe to cleverness. (Like most obsessions, this one is not altogether healthy.)
Discussion Tuesday: Facts and theory
Here is a good one, straight from twitter:
Without a theory the facts are silent. – Friedrich Hayek
— Dr. Tom Stevens (@DrTomStevens) July 21, 2014
Discussion Tuesday
Another video, same artist and all
There are few songs that illustrate the give an example of status good behaviour than “Mercedes Benz”
Discussion Tuesday
Let’s mix it up with some videos:
There are few songs that illustrate the fact that labour-leisure trade-offs differ between individuals than “Me and Bobby McGee”
Discussion Tuesday
More inequality – I’m trying to flip between the extreme assumptions from both sides:
Focusing on inequality is a substitute for thinking about poverty, opportunity, and capabilities. As a result, the demand for dealing with inequality is no more than a push to ignore the actual drivers of social injustice.
Discussion Tuesday
And to switch tack …
The role of government is not to redistribute incomes, a process that leads to many with already reasonable claims on resources to simply demand (and be given) more from others. The government’s redistributionary focus should be on insurance in certain circumstances, helping those trapped in poverty, and those who start life at a significant disadvantage.