Submitted by CARPE DIEM
THE ECONOMIST — Technology is spreading to emerging markets faster than it has ever done anywhere. The World Bank looked at how much time elapsed between the invention of something and its widespread adoption (defined as when 80% of countries that use a technology first report it; see above).

For 19th-century technologies […]

continue reading.....

Submitted by unsettling economics

Following up my last post that suggested family stability inhibits labor flexibility, I might mention that in our own recent hiring experience at Chico State, an inordinate number of good candidates proved unemployable because of the need to accommodate a spouse.

In a similar vein, Andrew Oswald showed that home ownership is the […]

continue reading.....

Submitted by CARPE DIEM

From the conclusion an NBER Working Paper “Myth and Reality of Flat Tax Reform: Micro Estimates of Tax Evasion Response and Welfare Effects in Russia”:
The 2001 Russian flat rate income tax reform (flat rate of 13%, see chart above) has often been heralded as a success story and has been credited with […]

continue reading.....

Submitted by CARPE DIEM

Adam Smith was a remarkably insightful guy. He not only figured out how expanding trade allows the division of labor, thereby creating wealth and raising living standards, he also realized how hard it is to get people to believe they’re better off than their ancestors. He discovered declinism way back in 1776:

“The […]

continue reading.....