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The Latest Breaking News from Milton Friedman

"The Profit Motive: In Defense of Shareholder Value Maximization"

From my UCLA colleague Prof. Stephen Bainbridge.

Reason

Tyler Cowen: How should you talk to ChatGPT? A user’s guide

About 100 million people used ChatGPT in the month of January, according to one estimate, which would be the fastest-growing user base ever. Yet I often speak to people who are less than impressed with ChatGPT, citing its mistakes and banalities, and they suggest it is a passing fad.

Tribune News Service

National Conservatives Can't Find a Good Excuse for Viktor Orbán's Inflation Disaster

Hungary's inflation hits 24.5 percent—the highest in the European Union—and Orbán's price controls aren't helping.

Reason

From analysis to the latest developments in health,
read the most diverse news in one place.

Should unions be able to charge ‘free riders’ for pay rises?

‘Imagine walking into a fishing club or a footy club and demanding all the benefits without being a member. You wouldn’t even get through the door.’

Crikey

How long will we use human misery to control inflation?

An interest rate increase? On the agenda? Try eight, actually happening. Dr Lowe and his RBA colleagues did get left behind.

The New Daily

These strikes are telling us something: Britain’s era of low wages may be over

Higher salaries would boost the UK economy and bring us in line with many other rich countries, says Guardian columnist Andy Beckett

The Guardian - UK

What Is Helicopter Money? Definition, Examples & Applications

What Is Helicopter Money?What’s a surefire way to encourage spending, and thus, spur growth? How about dropping money from the sky? As far-stretched as this idea seems, it actually has credence in schools of economic thought, particularly during times of recession or supply shocks. Helicopter money ...

The Street

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Sam Bankman-Fried: Trust Is Everything

Ironically, the FTX meltdown is the best illustration yet of why the world needs bitcoin.

Reason

Balkinization Symposium on Andrew Koppelman's "Burning Down the House: How Libertarian Philosophy Was Corrupted by Delusion and Greed"

Participants include Jonathan Adler, Richard Epstein, Christina Mulligan, and myself, among others.

Reason

Fighting inflation doesn’t directly cause unemployment – but that's still the most likely outcome

You may have seen the news: in its attempts to tackle inflation, the Reserve Bank is going to increase unemployment. The idea can even seem to come right from the mouths of experts, including the bank’s governor, Adrian Orr. Speaking recently to an industry conference, he said:

The Conversation

Economist Ha-Joon Chang: the Tory mini-budget was like trying to bring back terrible Tex-Mex

In a mouth-watering new book, the South Korean academic fuses his twin passions of food and economics to interrogate capitalism

The Guardian - UK

Using Today's Economic Woes To Teach Teens Finance

At least we can treat the results of bad policy as case studies for what might otherwise have been dry lessons in economics and finance classes.

Reason

The Weekly Wrap for Saturday, 15 October 2022

On Monday the Sveriges Riksbank prize (the Nobel Prize for Economics) was awarded to Ben Bernanke. We can trace the last century of American economics in his life's work. He's often described as the saviour of the last recession. But what about this one?

inkl Originals

Britain’s economic crisis offers an opportunity for new ideas – Labour must be ready

Just as the neoliberals took advantage of the mess of the 70s, so the left can offer its own radical solutions for today’s turmoil

The Guardian - UK

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Financial Times

What we keep getting wrong about inflation

Inflation needs a monetary response, whereas the energy crunch should be met with support for struggling households

Salon

Florida ranked #1 for school "freedom"

Heritage Foundation report praises Florida, Arizona for big steps toward deregulating and privatizing schools

The Conversation

Income redistribution or social insurance? A federal MP considers the future of the welfare state

The Albanese government has something of an embarrassment of intellectual riches, with no less than three of its MPs holding PhDs in economics. Two of them, Andrew Charlton and Andrew Leigh, are also prolific authors with at least a dozen books between them.

The Hindu

How ideology muddled inflation control in India

The agencies responsible for macroeconomic policy have hitched their wagon to Anglo-American economics

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Reason

May Public Pension Plan Managers Use "Environmental, Social, and Governance" Investment Practices?

"[P]olitics has no place in Kentucky's public pensions.... '[S]takeholder capitalism' and 'environmental, social, and governance' investment practices that introduce mixed motivations to investment decisions are inconsistent with Kentucky law governing fiduciary duties owed by investment management firms to Kentucky's public pension plans."

The Conversation

Why we can’t just 'stop printing money' to get inflation down

With the Bank of Canada announcing an oversized interest rate hike this week, it might seem like central banks are coming to rescue us from inflation once again. Yet while they did play an important role in mitigating a COVID-induced recession, central banks don’t have the power to solve our…

The Street

What Is Monetarism? Definition, Explanation & Example

What Is Monetarism in Economics?Monetarism is a macroeconomic school of thought that gained popularity during the 1970s. Monetarist theory asserts that monetary supply (the amount of money in an economy) and the way it is managed via governmental monetary policy determines a nation’s economic ...

Reason

Archives: March 2022

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