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"Alchian suggested that one could track the critical resources in the production process by studying publicly available financial data... Alchian’s study was immediately confiscated and destroyed as a threat to national security.”pic.twitter.com/XdQfAMglN7
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Why does this matter? One view argues the solution to regional inequality is greater investment in skills in poorer regions. It looks like the government accept this argument. https://www.theguardian.com/politics/2020/jan/30/sajid-javid-to-focus-on-skills-in-budget-to-hold-on-to-ex-labour-seats …pic.twitter.com/M7fTdZRxOf
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He cites a study looking at lawyers and janitors moving from the Deep South to New York. As rents have increased it is no longer worth it for janitors to move North, but it is still worth it for lawyers.pic.twitter.com/Q7Xn43JtsM
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New study: "For every one standard e-cigarette pod (a device that contains liquid nicotine in e-cigarettes) of 0.7 ml no longer purchased as a result of an e-cigarette tax, the same tax increases traditional cigarettes purchased by 6.2 extra packs." https://www.nber.org/papers/w26724#fromrss …pic.twitter.com/41CFl69GDI
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New Study: "Speaking with a distinctive regional accent reduces wages by an amount that is comparable to the gender wage gap" (In Germany). https://www.nber.org/papers/w26719#fromrss …pic.twitter.com/nQNGyZG0zb
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Dave Chappelle was right. Also, watch out for the loner at the back of the class taking notes, asking "Where are we supposed to meet again?" https://www.youtube.com/watch?v=M_ZOyusL8Y0 …https://twitter.com/nmconnell/status/1223802631035875328 …
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Neat explanation of the IP trade-off, looking at aircraft manufacturing. IP protection for airframes lead to more innovation in airframe design but less innovation in aircraft engines. https://voxeu.org/article/innovation-spillovers-and-market-structure …pic.twitter.com/9y0XBn2oCD
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This is like when a mega-rich hedgie learns they'd have made more money if they'd just tracked the S&P 500 for the last decade.pic.twitter.com/nKHqyFDFCG
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Jason Furman on why framing tax credits as corporate welfare is a mistake. https://www.mackinac.org/archives/2006/walmart.pdf …pic.twitter.com/Iv05ojYEiJ
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The UK had the lowest level of private sector capital investment as a share of GDP across the OECD between 1995 and 2015.pic.twitter.com/10AmTsaqBV
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The virgin profit maximiser vs the chad stakeholder capitalist.pic.twitter.com/R1T1PrcosL
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Read the whole thing as the strongest points are near the end. In particular:pic.twitter.com/dnlVwYm4tS
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Why are the Mughals famed for their tombs and not palaces? A 100% inheritance tax on everything but tombs. https://marginalrevolution.com/marginalrevolution/2020/01/tomb-economics.html …pic.twitter.com/CwvSZ1zMws
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Coughing into your hand may actually be worse on the tube. Remember to DAB.pic.twitter.com/wdcyeDv07m
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