econbasics   566

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The world’s most unproductive entrepreneur | Andrew Batson's Blog
Low’s tale also made me recall the distinction that William Baumol made between productive and unproductive entrepreneurs, in a famous 1990 article:
-> SE op continuum tussen onproductief entrenpreneurship en (sociaal) productief entrpreneurship???
econbasics  social-entrepreneurship  reluctantecon 
4 days ago by frederikmarain
The border between creation and cataclysm | The Enlightened Economist
Colin (a colleague of mine on the Natural Capital Committee) thinks that for the most part big companies deserve their dismal reputation: “The interests of the corporation have progressively diverged from those of the societies in which they operate.”
The book pins the blame squarely on the Milton Friedman doctrine that companies sole aim should be maximising shareholder value,
econbasics  social-entrepreneurship  friedman 
12 days ago by frederikmarain
The US-China trade war as a conflict of values | Andrew Batson's Blog
At present, there are two interpretations of China’s growth in the past few decades, the theory of the “Chinese model” and the theory of the “universal model.” The former holds that China’s economic development benefited from a unique Chinese model, with a strong government, many large state-owned enterprises, and wise industrial policy.

The latter holds that China’s remarkable achievements are, just as with the rise of Britain, France, postwar Germany, Japan and the Asian tigers, based on the power of the market and the creative and risk-taking entrepreneurial spirit.
5 weeks ago by frederikmarain
Rory Sutherland's Marketing Secrets — David Perell
"Marketing is the science of knowing what economists are wrong about."

Behavioral economics explained in a sentence: The context, the medium, and the interface where a decision is made may have a far greater effect on our decision making than the long-term consequences of a decision, even when we know those consequences.
econbasics  reluctantecon  marketing 
5 weeks ago by frederikmarain
William Nordhaus and why he won the Nobel Prize in economics - Marginal REVOLUTION
“Schumpeterian Profits in the American Economy: Theory and Measurement” – Yale economist William Nordhaus estimates that innovators capture a mere 2.2% of the total “surplus” from innovation. (The total surplus of innovation is, roughly speaking, the total value to society of innovation above the cost of producing innovations.) Nordhaus’s data are from the post-WWII period.

relative price of bringing light to humans has fallen more rapidly than gdp growth figures alone might indicate.
9 weeks ago by frederikmarain
Bruno Maçães on the Spirit of Adventure (Ep. 50) – Conversations with Tyler – Medium
We think we know how to live. What you get today is, in fact, this attitude of constant preaching, of telling you what you should be doing and what life is for. We have the answers. Of course, from a theoretical point of view, adventure is about not knowing the answers, looking around.
Adventure is fundamentally about being aware that there may be a completely different lifestyle that you’re not aware of, and they’re just passing you by because you’re not looking for it. I don’t find this anxiety present in contemporary liberalism at all.
econbasics  reluctantecon 
10 weeks ago by frederikmarain
The Grumpy Economist: Links: trade, housing, taxes
Once you add transfers back in again, the US has a much flatter income distribution. We have a more progressive tax system than Europe, with no VAT and lower payroll tax rates, and we do a lot of income transfers.

Greg points out a clever implication of this fact. From the pre- and post-tax and transfer income distribution, we can measure the average marginal tax rate, including the loss of benefits due to program phase out with income:
august 2018 by frederikmarain
Pro-Market AND Pro-Business – Econlib
Both economists and libertarians often emphatically state, “I’m not pro-business. I’m pro-market.” What does this slogan really mean?
econbasics  reluctantecon  social-entrepreneurship 
august 2018 by frederikmarain

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