In case you've missed it "the fallacy of the hot hand" now appears to be itself a fallacy.
Deirdre McCloskey, singing the same song she's been singing for a long while now. But it's a good song.
The formula for an economy to get rich nowadays is as easy as H2O.
It is: Follow China and India. Containing four out of every ten humans, the two gradually gave up on central planning, China after 1978, India after 1991
Steven Greenhut presents a gem of an example.
This story is a reminder of how government “works.” It has many well-paid employees. (Los Angeles County fire captains and battalion chiefs can earn total compensation packages that top $600,000 a year. The median county and city firefighter compensation in California is just under $200,000 a year.) It has no “customers.” It is adept at handing out notices and fines, but has no incentive to properly manage its budgets or property. It rewards bureaucracy and inaction. The only way to get it to do anything constructive is to apply pressure from politicians.
"Fastest" meaning "one-year change in per capita incomes in U.S. metro areas ". Four of the top ten are in Indiana. Coincidence, regression to the mean, Republican governors recently, or other things?
Bad could very likely soon get worse.
Maddog of "Maddog's Lair" explained ("Mansplains"? Gasp!) to Emily Badger of the Washington Post why house prices in San Francisco are so high.
By Bryan Caplan. Needless to say, I support this view.
Arnold Kling adds:
I think that it ought to be more socially desirable to work in business than to work in the non-profit sector or in government. It’s too bad that it seems to be the other way around.
I never knew there are restaurants in New York City named after the late, great economist.
Friedmans was named after the famous economist Milton Friedman who popularized the phrase, “there ain’t no such thing as a free lunch”. This phrase has gone on to be used in science, economics, finance, statistics, technology, sports, & now food. However, to put it simply, “to get one thing we like, we usually have to give up another thing we like.”
Link via Economics Job Market Rumors.
Interesting and an argument you're not likely to see in the major media: "The net impact of tariffs, while negative, might be swamped by the scope of the U.S. economy."
No surprise to those who know something of the history of "cost savings" from bigger government programs.