philmophlegm: (Concentrated power)

"We can all put aside our partisan differences for a moment and agree that this Trump-Clinton “Dirty Dancing” duet is the best thing to come out of the debate."

Don't trust "factcheckers". Maybe it’s just my innate cynicism and a background as a professional sceptic that always makes me doubt someone who claims to be “unbiased” when giving you “the facts”.

Why Truman fired MacArthur. Fascinating account.

Weaker Sterling is (on balance) somewhere between good and very good for the UK economy.

...and another article making a similar argument.

Tolkien might not have been too impressed by the current trend to concentrate on the ethnicity of science fiction and fantasy authors rather than the quality of their work.

There is no such thing as trickle-down economics.

This is the best explanation of why so many people will vote for Donald Trump that I've seen.

Ched Evans is Not Guilty. Here's ten myths about the case that need to be busted.

Who is winning in Labour and the Liberal Democrats' race to be the most anti-semitic party?

Dennis Byrd didn't deserve to die in a car crash.

Dolly Parton's 'Jolene' slowed down is amazingly good. (Thanks beckyc)

18 Game of Thrones moments improved by quotes from Monty Python and the Holy Grail.

Given the dearth of available options, who should American conservatives vote for in the presidential election?

Are we seeing the beginning of a political realignment in the UK? Interesting lecture.

Here's a particularly unsubtle example of simple corruption from the Secretary-General of the Commonwealth.

Political map of Europe, year-by-year from 3650BC to 2016AD.

70-year-olds play D&D for the first time.

The third most likely person to become the next President of the United States, and how he would do it. OK, it’s beyond unlikely, but not impossible…

philmophlegm: (Lego Rock Band)

You don't need this laptop.

Trying to understand the EU's actions against Apple and the Republic of Ireland.

It's not shocking that professional employers judge applicants for client-facing roles partly on their appearance and their dress. What is shocking is that not only do state schools not teach this stuff, they sometimes don’t like it when employers try to do it instead.

Useful smartphone test. When I last bought a smartphone, I read lots of reviews, but one question that was never asked was “How good is it at making and receiving calls?”, that is “How good is it at actually being a phone”"?”

According to the latest Rowntree Foundation definition, someone in the top 0.32% of global incomes is now "in poverty". Muppets.

British WW2 propaganda posters.

Think you're good at Lego building? This guy is better.

If you were an American games company raising funds on Kickstarter for a new family card game "that combines speed, hilarious gestures, and your silly side for 2-6 players, ages 6+", and you weren't that familiar with politically incorrect British playground slang, what's the worst name you could come up with...?

"Nobody ever got sacked for buying IBM" …but maybe in this case, someone should have been.

When I was an auditor, this sort of clever statistical analysis was called a logic check. This is a good logic check on why American police might treat certain groups differently. (Hat tip to ford_prefect42.)

Archaeological evidence of a major bronze age battle in northern Germany c.1250 BC.

philmophlegm: (Wrexham club shield)

The latest target of the PC police - Gilbert & Sullivan.

"Controversy as Chester Zoo opens 'Wrexham Scally Enclosure'". (I should point out that Homo Wrexhamius Scalliensis Chavus is pretty much confined to the southern part of Wrexham, not the nice bit where I’m from…)

Why Gandhi is such an asshole in Civilisation.

The Curious Case of the (Medieval) Weapon that Didn't Exist

Why you can't just have more quantitative easing to get rid of the national debt.

This is not a 512gb microSD card.

The worst football kits of all time. They’re all bad, but Colorado, seriously…?

This month's best headline is from an astronomy website.

"A lousy, stupid, no good, bad, law is being proposed."

Star Wars Episode IV in a single image. (OK, it’s a very big image, but still…)

Minimalist, anonymous rooms are probably not a good place to do teamwork.

"We all owe a significant debt to Richard Murphy." No, really.

I'm an only child, so I can't really relate to this. Nevertheless I thought it was a sweet film about growing up being “Player Two”.

Woman accidentally joins search party looking for herself.

Today's most widely misinterpreted piece of economics, from the IMF. There are two arguments put forward in the paper. The first is that there are risks associated with capital account liberalisation (allowing money into and out of the country with less regulation). The second is that although high public debt is bad for growth and welfare, for countries with excellent records of debt repayment, like the US, the UK and Germany, a “credible medium-term fiscal consolidation” makes more sense than a “fiscal noose today”. In other words, slowly bringing down debt as a percentage of GDP, not slashing everything to balance the budget as soon as possible. Now that’s pretty much what the UK’s current fiscal policy is. Still I suppose “IMF economists broadly agree with George Osborne” isn’t quite as good a headline as “You’re witnessing the death of neoliberalism – from within”. Seriously, this is a paper that says “There is much to cheer in the neoliberal agenda. The expansion of global trade has rescued millions from abject poverty. Foreign direct investment has often been a way to transfer technology and know-how to developing economies. Privatization of state-owned enterprises has in many instances led to more efficient provision of services and lowered the fiscal burden on governments”… and Facebook (and one of our less reputable newspapers) is full of idiots claiming that “we are witnessing the death of neoliberalism”.­

philmophlegm: (adamsmith)
This is something that people have asked me in the past. Of course my view is that basic introductory economics should be taught as a core subject in school. I had mandatory music, drama, needlework, metalwork, woodwork and religious education, all of which strike me as less important parts of education than understanding how people behave and interact. But that's a subjective opinion, and this is an objective educational post.

So, where to begin?

Read more... )
philmophlegm: (adamsmith)
The subject of this post was prompted by a question asked by eledonecirrhosa. So thank you for that.

Before I get onto Consumer Surplus, I'm going to have to ask you to do some revision and read this post on Supply and Demand first. And then this one about Elasticity.


Right then. Consumer surplus...

Read more... )
philmophlegm: (911)
How does a print-on-demand publisher have a clearance sale...?

philmophlegm: (adamsmith)
Once upon a time, I used to occasionally write educational posts about economics. I haven't done it in a while because I seem to have other things on my mind, but I have been thinking that maybe I should start them up again. If you'd be interested, please shout up and comment.

The reason I did these posts is that I think that knowing something about the way the world works (which is ultimately what economics is) seems to me to be a necessarty condition for taking part in important discussions and decisions. And yet very few people ever get taught any economics, or take the time to educate themselves.

As something of a warmup, I really liked this article on the Three Kinds of Economic Ignorance by Professor Steven Horwitz.



If you want to read some of the older posts, here's the full list to give you some idea:

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