Suppose that there is a population of eleven people on an island and they are all equally racist. There are ten whites who hate blacks and one black who hates whites. If they all express their racism by hurling stones at the…
Blog Archives
TIPS for investing and predicting inflation
A lot of people are worried about inflation because of hysteria at the Wall Street Journal and other media reports that sensationalize the issue. I’m not worried because I trust the bond market which predicts inflation better than anyone. To…
Posted in Macro
Zero-reserve banking: Another historic revolution.
Updated 10/25/2023 The Fed eliminated all reserve requirements for banks on March 16, 2020 for the first time in history and I didn’t even know about it until today because it got very little press, perhaps because it was the…
Posted in Macro
Race Vs. Class At College
David Leonhard found that elite colleges have very little economic diversity. At elite schools, only a little over 10% of the student body comes from families below the median income. William Bowen, …was a co-author of a study several years ago that…
Guns don’t kill people. Alcohol kills people.
Updated. Ok, so my title is goofy sloganeering, but it isn’t any goofier than the common slogan it is based upon. Although the US could certainly save lives by copying some of the gun restrictions that all other industrialized nations…
Posted in Public Finance, Violence & Peace
An unearned wealth tax would help stop rising inequality.
The main source of rising inequality in the US has been the rising incomes of the top 1% richest Americans relative to everyone else. Sure, the top 25% highest-income households have been doing fine, but their incomes haven’t been rising…
Posted in Inequality, Public Finance
Blockchain NFTs have nothing to do with ownership rights. They are merely collectables and receipts for donations.
NFTs are not property rights just like Bitcoin is not money. Property rights are usually described as a bundle of rights, but every concept can be described as having a bundle of qualities, so what matters is determining what qualities…
Medianism 