The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

This Should Not Be Necessary

Headline at Patterico: No, Extending Unemployment Benefits Does Not “Create Jobs” The basic economics of this should be obvious — it’s simple common sense — but ignorance of basic economics is rampant and common sense is increasingly rare, and so Patterico feels obliged to rebut this fallacy promoted by You Know Who: “Voting for extending […]

Carts and Horses, Causes and Effects

Complex causation in human behavior means that social science often isn’t very scientific. Not every variable can be measured with such accuracy as, for example, annual income and years of education, and things which are not measured tend to be neglected as factors in social science. Researchers don’t usually find correlations by accident, and they […]

Take Paul Krugman’s Money

Paul Krugman tediously rehashes his “economic inequality” gripes: The reality of rising American inequality is stark. Since the late 1970s real wages for the bottom half of the work force have stagnated or fallen, while the incomes of the top 1 percent have nearly quadrupled (and the incomes of the top 0.1 percent have risen […]

In Which @NYTimeskrugman Exposes His Own Structural Stupidity

Yesterday I praised Kevin D. Williamson’s elegant account of poverty in Appalachia, but of course the liberal know-it-all Paul Krugman couldn’t resist adding his two cents of Nobel Prize ignorance: My take on Williamson’s report . . . is that it basically says that William Julius Wilson was right. Wilson famously argued that the social […]

Matt Yglesias: Solving Non-Problems

Slate.com has become a journalistic ghetto, an “Amateur Online Webzine Specializing in Hit-Trolling and Outrage-Fishing,” as Ace calls it, and their “business and economics correspondent” (?) Matt Yglesias gets in the spirit with a 415-word item under this headline: Why Taxing the Rich Is Great Yglesias quotes one sentence from a New York Times article: […]

Welcome Our New Robot Overlords

As if Instapundit’s weird enthusiasm for “robosexuality” weren’t disturbing enough, now there’s this prediction from two MIT geeks:  Technological progress is going to leave behind some people, perhaps even a lot of people, as it races ahead. . . . [T]here’s never been a better time to be a worker with special skills or the […]

Taxpayers Lose $10.5 Billion on UAW Bailout; Does @DavidCookTFP Care?

Before we talk about @DavidCookTFP — a liberal columnist for the Chattanooga Times Free Press — let’s talk about Detroit, the city driven into bankruptcy by Democrats and organized labor. If there is one sentence which should be indelibly etched in your mind about President Obama’s bailout of General Motors, it is this: “GM was […]

Obama’s Underpants Gnome Economy

Remember the infamous business plan from the South Park episode? Collect Underpants ? Profit Say hello to the president’s economic theory: Here's how to improve our economy and create hundreds of thousands of jobs: #RaiseTheWage. http://t.co/NLM2t9NyhS pic.twitter.com/UDTcTSaqZJ — Barack Obama (@BarackObama) December 4, 2013 It would be an insult to readers to explain why this […]

It’s Official: Detroit Is Bankrupt

Decades of control by labor unions and Democrats: The struggling metropolis of Detroit, overwhelmed by debt and groping for a path forward, on Tuesday became the largest American city ever to qualify for bankruptcy protection. That’s from the New York Times which has also been controlled for decades by labor unions and Democrats, so they […]

Ready for the Debt-Crisis Apocalypse?

If you think doomsday preppers are crazy, you’re wrong: Riots, massive unemployment, hyperinflation, savings accounts wiped out, financial markets in chaos — these are potential scenarios for America’s future, but exactly when and how the nation’s debt crisis will unravel is still a matter of speculation. Most economists doubt that the United States will soon […]

Our Moral Superiors: @Peter_Turchin’s Career of Selfish Academic Decadence

The Myth of Progress, which imagines history generally as a more or less steady advancement toward enlightenment, is dependent upon our willingness to ignore the possibility of decadence. Are we really more “enlightened” than the Founding Fathers? Do we see, in the general social and cultural trends around us, evidence of our moral and intellectual […]

Remember Those Official Unemployment Numbers? They Just Made ‘Em Up!

Ace of Spades pointed this out last night: Last year, when we were told that unemployment statistics indicated that the economy was improving, the people in charge of doing the counting were simply making up numbers, according to the New York Post. But what difference, at this point, does it make?  

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