The Angry Bear

Can Nudging Become A New Road To Serfdom? Last weekend I attended a conference at NYU Law School on “Behavioral Economics and the New Paternalism, organized by Austrian economist Mario Rizzo and classical liberal law professor Richard Epstein. It included economists, lawyers, philosophers, and a couple of psychologists.  While there was a range of views present a theme for many and especially of the organizers was bashing the ideas about “libertarian...

Low response rates are a problem for pollsters. The worst problem is candidate specific response bias in which supporters of one candidate are more likely to respond than supporters of another. This can make polls worthless. It is interested to the other very hard problem of predicting who will actually vote. I am thinking of something a friend told me about 2012. Obama’s support dropped dramatically after the first debate (and this is clearer with...

by Jeff Soplop What Happened to the Political Price for Lying? (Part one of two) James Comey’s recent interview on ABC has resurrected questions about the importance of honesty in public officials. One of the key themes of Comey’s interview, and apparently his soon-to-be-released book, is that Donald Trump is “morally unfit” to be president because, among other things, he lies constantly. Certainly Comey’s statements reflect a broad public despair about...

Steve Hutkins of Save the Post Office blog also reviewed the WSJ/Citigroup analysis of the Amazon – USPS agreement in the second half of his article, “Fake News, Flawed Analysis, and Bogus Tweets,” April 8 on Angry Bear. As noted in the first half on Steve’s article presented at Angry Bear; Trump’s tweet about the Postal Service undercharging Amazon by $1.50 per parcel is based on a July 2017 Wall Street Journal article undercharging Amazon was based on...

Is the US economy booming? April 2018 update Back in January, I asked if the economy was “booming.” There’s no official definition, but based on my recollection of the two periods I have lived through that felt like booms, the1960s and late 1990s, the two times in my life that the feel of an economic boom was palpable, I answered in the negative. I considered a number of indicators of well-being, to see what stood out in those two periods, and concluded...

(Dan here…lifted from Robert’s Stochastic Thoughts) Thoughts on Capehart on Kagan I ì’m reading the Washington Post and note one very outstanding op-ed by Catharine Rampell which you should just read. She links to excellent summaries of social science research and notes that Republicans don’t listen to experts and aren’t reality based.But I want to write about a dumb op-ed by Jonathan Capehart. I’m picking on him partly to explain what is so...

February 2018 JOLTS report: positive trend revised away Last month I wrote that the January JOLTS report reflected very positive trends. Today they got revised away. As a refresher, unlike the jobs report, which tabulates the net gain or loss of hiring over firing, the JOLTS report breaks the labor market down into openings, hirings, firings, quits, and total separations. I pay little attention to “job openings,” which can simply reflect that companies...

The OM Wiener award goes to House Speaker Paul Ryan. Paul Ryan can’t just leave, go home, and check with Oscar Mayer to see if he can still drive the OM Wiener Mobile again like he did as a college student. Naaaw, instead he is threating baby boomers with making them pay again for their SS. Ryan: “The one thing I obviously care a great deal about is entitlement reform and in particular health care entitlement reform,” To put it into Randian language, the...