OK, I’m going to rise to Ray Gifford’s bait, being the new institutional economics econ-geek that Ray believes me to be … the essay that he links to by Eric Gunning on the potential and the pitfalls associated with Coasean bargaining is a good, concise treatment of the subject. I encourage you to follow his …
I owe a ginormous (as Trinny and Susannah would say) debt of gratitude to Brian Doss at Catallarchy for posting the link to this online FAQ about the labor theory of value. The students in my next history of economic thought class will be the most appreciative though, because they’re the ones who won’t have …
I am really glad that folks around here have picked up this bundling conversation. See, for example, Stephen Bainbridge’s observations, who argues that bundling is anticompetitive. I disagree, as long as the consumer has an opportunity to say “no” and use something else. And of course under the usual dynamics of R&D and competition, some …
Bundling As A Rationale For Regulation? I Should Think Not Read More »
In a comment on one of my gasoline posts below, Barry Posner made some great observations about refinery capacity that are so good that I’m going to pull them out and post them here. I have been abstracting from refinery capacity in recent discussions of gas price fluctuations, because it has been a constraint for …
My favorite movie of all time is being re-released! Monty Python’s Life of Brian will be re-released at the end of April. The producers say they are doing this as a “Passion of the Christ” antidote. I don’t care why they’re doing it just that they are! I’ve only ever seen it on the big …
An article from the Minneapolis Star-Tribune on how the inflation-adjusted price of gasoline is not at a record high. Note his last quote from a source: “The market is going to take care of this.” BTW, I agree with Kevin Brancato’s comment here last week, laying some of the responsibility for the economic illiteracy of …
C’mon, people, doesn’t anyone know how to use a GDP deflator? Certainly the journalists writing articles like this at the Washington Post and the various and sundry wire services that have been feeding hyperbole to their readers have demonstrated their complete and utter inability to process the difference between real and nominal prices. Why don’t …
This Technology Review article on hybrid and hydrogen vehicles explains why hybrid vehicles will have commercial dominance over hydrogen for the forseeable future. It’s a good read, one that I wanted to comment on anyway and an intrepid reader alerted me to as well. The argument in this story also makes a lot of the …
Check out this oil price primer from Frederick Leuffer in the National Review. Lots of good information there. I particularly like that his answer to “are we running out of oil?” is a curt “No”.
According to lots of news over the past couple of weeks, that’s what a lot of folks are doing. Forbes, for example, had this feature on “pump-busters”, where they showcase fuel efficient vehicles of all types and sizes. They also break down the component costs of a gallon of fuel: But what exactly are you …
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