Immigration and the Liberal War on Success

Yesterday, isteve posted an article about Alan Greenspan endorsing more h-1b Visas. Like most articles on this subject matter it generated a lot of discussion, the majority expressing opposition to more visas. However, being a free market capitalist I wrote: But if more high tech immigration isn’t allowed and retraining the workforce isn’t feasible due… Continue reading Immigration and the Liberal War on Success

Revisiting Correct Predictions

How is it possible a small blog has a more accurate and longer running track record than professional pundits, with their adulation, media appearances, and books? Looking back through the post archives, with few exceptions, all of our predictions came true. This is because we only care about the hard economic data and, secondly, the… Continue reading Revisiting Correct Predictions

Sorry, No Student Loan Bubble

Through observation, the most popular topics as measured by comments and pageviews are posts that are critical of higher education or student loans, posts that are about IQ or standardized testing, and lastly, minimum wages, basic income and Obamacare. This theory was affirmed when the half-pint Robert Reich published a satirical college commencement speech on… Continue reading Sorry, No Student Loan Bubble

Why Economists Don’t Need To Be Able To Predict

A common criticism of economists, and the economics field in general, is that they, the economists, ‘failed to see the crisis’. But is this really important or just a red herring used to sling mud at an important profession? Because they didn’t predict, ergo the models are wrong and economists are wrong. Case closed. Economists… Continue reading Why Economists Don’t Need To Be Able To Predict