Suchergebnisse

The Minneapolis City Council voted back on March 7 to require that ride-sharing firms like Uber and Lyft needed to increase the pay received by their drivers. Uber and Lyft both responded by saying that they would stop travelling to or from locations in the city of Minneapolis; Uber said that it would leave the … Continue reading Uber/Lyft vs. the Minneapolis City Council
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The obvious answer is that policymakers want research that supports their personal and political preferences. Conversely, policymakers don’t want research that might pressure them to change their views. But with that central truth duly noted, situations often arise where policymakers have an overall goal, but the details of how to achieve that goal, or how … Continue reading What Economic Research do Policymakers Want?
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There are three “government-sponsored enterprises,” commonly called GSEs, that play a big role in US housing finance: the Federal Home Loan Banks, Fannie Mae, and Freddie Mac. Perhaps the key similarity across all three is that when they borrow money, the financial markets perceive that the federal government is standing behind the loan–and so they … Continue reading A Primer on Federal Home Loan Bank System
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The “15-minute city” is getting some attention from urban planners. The idea is that everyone should be able to access the key destinations in their day-to-day life–work, food, schools, recreation–within a 15-minute walk, bike ride, or mass transit ride of their residence. Cars would then be unnecessary for many daily tasks. Most Americans do not … Continue reading A Downside of the 15-Minute City
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I have been the Managing Editor of the Journal of Economic Perspectives since the first issue in Summer 1987. The JEP is published by the American Economic Association, which decided back in 2011–to my delight–that the journal would be freely available online, from the current issue all the way back to the first issue. You can download individual … Continue reading Spring 2024 Journal of Economic Perspectives Free Online
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Lawsuits are still pending, but the current schedule if for a congestion pricing scheme to begin in Manhattan on June 30. An online issue of Vital City published on May 1 has a group of short and readable explainer articles on aspects of the plan. In the opening essay, Josh Greenman lays out the basics … Continue reading Congestion Pricing in Manhattan: About to Arrive?
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Why leave a tip? You have already received whatever food or service you are going to receive. Maybe if you are a very regular customer, tipping could lead to better service in the future. But most people who leave tips do so even if they are stopping off at, say, a restaurant in a city … Continue reading Some Economics of Tipping
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It would be nice if the processes of economic growth were well-mannered: for example, if it benefited all workers and industries and groups equally–or perhaps with some additional benefit for those with lower incomes. But of course, growth isn’t a neat process. As technology and tastes evolve over time, some firms do better, some industries … Continue reading Reallocation Within an Industry: A Secret Strength for the US Economy
The post Reallocation Within an Industry: A Secret Strength for the US Economy first appeared on Conversable Economist.

The United States has had an industrial policy aimed at boosting its domestic shipbuilding industry since the passage of the Merchant Marine Act of 1920, commonly known as the Jones Act. Whatever the arguments for the passage of the bill a century ago, it has over time been a disaster for the US maritime industry, … Continue reading The Jones Act: Consequences of a Destructive Industrial Policy
The post The Jones Act: Consequences of a Destructive Industrial Policy first appeared on Conversable Economist.

Extremely high levels of wealth are were not typically generated by people who were saving out of the income that they earned. Instead, high levels of wealth are typically about assets that rose considerably in value–sometimes land or real estate, often stock in a company. Billionaires like Elon Musk or Kim Kardashian don’t have a … Continue reading Three Options for Taxing Wealth
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The IMF publishes a Fiscal Monitor report twice a year about levels of spending and taxes around the world. The April 2024 report, subtitles “Fiscal Policy in the Great Election Year,” contains some warnings about the size of US budget deficits. For context, here a table with fiscal balances for high-income countries, with actual data … Continue reading The IMF Warns about US Budget Deficits
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The Dunning-Kruger effect can be paraphrased in this way: “On any particular topic, people who are not experts lack the very expertise they need in order to know just how much expertise they lack.” Corey S. Powell interviews David Dunning on how the underlying idea has been developed since the original paper published in 2000 … Continue reading Interview with David Dunning, of Dunning-Kruger Fame
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David A. Price interviews Ulrike Malmendier, “On law versus economics, the long-term effects of inflation, and the remembrance of crises past” (Econ Focus: Federal Reserve Bank of Richmond, First/Second Quarter 2024, pp. 22-26). One theme of the interview is Malmendier’s recent work which emphasizes that living through a salient event can leave a lasting mark. … Continue reading Interview with Ulrike Malmendier: Remembrance of Crises Past
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Over the last half-century or so, the share of corporate stock that is owned by investors with taxable mutual funds or brokerage accounts has fallen dramatically. Steven M. Rosenthal and Livia Mucciolo tell the story in “Who's Left to Tax? Grappling With a Dwindling Shareholder Tax Base” (Tax Notes, April 1, 2024). Here’s their figure … Continue reading Why So Many Shareholders of US Firms are Untaxed
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Statistics are not reality, but they are a map to reality, and that map is central to the basic knowledge needed for modern government. Or at least so argues Michel Foucault in Security, Territory, and Population: Lectures at the College du France, 1977-1978 (edited by Michel Senellart, translated by Graham Burchell, originally published 2004, translation … Continue reading Statistics is (Literally) Statecraft
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