Figure 1: Wage Curves for the Two Techniques1.0 Introduction Economists following the Austrian school often represent the structure of production with Hayekian triangles (Hayek 1931, Rothbard 1962, Skousen 1990, Garrison 2001, Machaj 2017). Typically, goods of the highest order are produced with unaided labor or other unproduced original resources. (Fillieule (2007), in which a Hayekian triangle is constructed with an infinite stream of unproduced inputs, is an exception.) Rarely, is a...

[unable to retrieve full-text content]When I was growing up, I viewed being a physician as the zenith of achievement for someone interested in science. That changed when I got to college and became interested in research. I realized I didn’t have the temperament for a physician (OK, maybe a radiologist or a pathologist) and I became a lab rat. […] The post The economics of medicine: personal reflections appeared first on Angry Bear.

Nationalekonomer hävdar ofta att det inte gör så mycket om de antaganden som deras modeller bygger på är realistiska eller ej. Vad som betyder något är om de prognoser som modellerna resulterar i visar sig vara riktiga eller ej. Om det verkligen är så, är den enda slutsats vi kan dra att dessa modeller och prognoser hör hemma i papperskorgen. För oj vad fel de har haft! Riksbanken har sedan 2007 använt sig av så kallade räntebanor som prognosmedel. Genomslaget har blivit stort...

[unable to retrieve full-text content]This is interesting as the fight is over wetlands which is something we were battling about in Michigan too. Builders like to build close to them or fill in parts of it to expand their development. We did manage to establish 75-foot setbacks to houses so as to protect the wetland. The subdivision we lived […] The post Policy Wins in 2024 for Wetland Protection appeared first on Angry Bear.

[unable to retrieve full-text content]Pew Piece on Immigration. The author says it is a short piece. It appears to be much longer than what is claimed. I am going to break this into pieces. It is an update to a post by PEW in 2017. The message in Republicans and Trumps dialogue is the nation is being overrun with […] The post Immigration to The United States. Just how Bad is It? appeared first on Angry Bear.

Via Peter Hartcher in the Nine papers, I learned the other day that Albanese snubbed President Prabowo of Indonesia to meet King Charles. The immediate decision before the Albanese government was how to deal with two important heads of state asking for attention at almost exactly the same time. The prime minister had a long-standing invitation to the inauguration of the new president of Indonesia in Jakarta on Sunday, and a request for a visit by the British monarch to begin on the...

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They’re gonna lose

[unable to retrieve full-text content]Heads I win tails you lose. There are criticisms of alleged hypocrisy and alleged virtue signalling. I am convinced that most who criticise “virtue signalling” are, in fact, criticizing virtue. My guess is that there the selfishness and altruism of different people is different and the relatively selfish suspect (correctly) that the relatively altruistic disapprove […] The post Alleged Hypocrisy and Virtue Signalling appeared first on...

[unable to retrieve full-text content]Results taken from Company Reports: “GM Releases 2024 First-Quarter Results and Raises Full-Year Guidance,” General Motors Company GM Story Reported by William Gavin at Quartz: beats Wall Street’s expectations again for third-quarter earnings and raised its outlook for the full year GM is having a great year as it posts Q3 earnings beat General Motors […] The post GM Releases 2024 First-Quarter Results appeared first on Angry Bear.