Bryan Caplan's Blog, page 40

So If Incentives Are Overrated…

New Nobelists Duflo and Bannerjee in the NYT:

[E]conomists have somehow managed to hide in plain sight an enormously consequential finding from their research: Financial incentives are nowhere near as powerful as they are usually assumed to be.

David’s critique is excellent.  But supposing Duflo and Bannerjee are right, I have a few questions.

If incentives are overrated…

1. Is it OK to reduce penalties for tax evasion?

2. Is it OK to cut regulatory enforcement?

3. Is it OK to curtail the right to sue?

4. Is it OK to cut pay and benefits for government employees?

My...

Hive Mind and Open Borders

Garett Jones’ new working paper on “Measuring the Sacrifice of Open Borders” has already received much attention.  Before I respond to it, though, let me recount The Story So Far.

1. About a decade ago, researchers such as Michael Clemens started using standard trade models to estimate the economic effects of open borders.  All such estimates were enormous, giving rise to slogans like “Open Borders: “The Efficient, Egalitarian, Libertarian, Utilitarian Way to Double World GDP.”

2. In 2015, my colleague Garett Jones published Hiv...

The Economics of Antipathy and Stereotyping

Here are the slides for my second “basic econ for attorneys” lecture.  The topic: the economics of discrimination.  Or as I called it, “The Economics of Antipathy and Stereotyping.”  Enjoy.

The post The Economics of Antipathy and Stereotyping appeared first on Econlib.

The Economics of Pleasure and Pain

I recently gave two lectures on basic economics to an audience of attorneys.  Here are my slides on compensating differentials, entitled “The Economics of Pleasure and Pain.” Enjoy.

The post The Economics of Pleasure and Pain appeared first on Econlib.

Abstract for My IEA Talk

I’m giving the Institute of Economic Affairs‘ 2019 Hayek Memorial Lecture on December 3 in London.  The title: “Poverty: Who’s To Blame?”  And unlike in the U.S., lectures in the U.K. have abstracts!  Here’s mine:

Abstract:

Who, if anyone, is morally to blame for the continued existence of severe poverty? I argue that governments in both poor and rich countries bear primary responsibility. Governments in poor countries are blameworthy for stifling development with socialist and populist economic policies. Governments in rich countries are...

Can Republicans Afford to be Pro-Immigrant?

This is a slightly redacted email from a social scientist who prefers to remain nameless.  Reprinted with his permission.

Hey Bryan,

I just finished Open Borders last night and I want to say great job! […] I’m a conservative/libertarian who was convinced by the arguments that Ann Coulter and others made that demographics change America will be forever liberal.

One thing that changed my view was “The Great Awokening,” seeing how white liberals changed their views on gender, race, etc. in a radical direction practically over...

Freiman: How Is Voting Like the SAT?

I recently had the privilege of reading an advance copy of philosopher Chris Freiman‘s Why It’s OK to Ignore Politics.  (You may know Chris from such nerdtastic venues as Unreasonable Anti-Rawls Memes).  Here’s one highlight on the cost of voting.

Yes, Freiman concedes, merely going to the polls and filling in your ballot takes an hour or so.  But filling in the ballot intelligently takes many years of time.  Here’s why:

Merely voting may only take an hour or so at periodically available, formally arranged times, but voting with care takes a much...

Freiman‘s Why

Cheer the Fall of the Wall

On the 20th anniversary of the fall of the Berlin Wall, I explored Eugen Richter’s prescient dystopian novel, Pictures of the Socialistic Future.  Eventually I even wrote a new introduction to a re-release of this classic book.

For the 30th anniversary, let me share what is perhaps the most inspirational page Zach Weinersmith drew for Open Borders.  And if you object to the comparison between their walls and ours, think again.

The post Cheer the Fall of the Wall appeared first on Econlib.

Open Borders is a New York Times Bestseller!

This just in: Open Borders: The Science and Ethics of Immigration, has made the New York Times Bestseller List!  The one line summary – “An economics professor argues that opening all borders could bolster the global economy” – is an bizarre understatement.  Far better to say, “An economics professors argues that opening all borders would swiftly created unprecedented prosperity” or better yet “An economics professor argues that immigration restrictions are an economic and moral disaster.”

Still, I’ll take what I can get!

The pos...

the Newhref="http://smbc-comics.com/openborders/&q...

Caplan-Weinersmith Ask Me Anything Tonight!

Zach Weinersmith and I are doing an Ask Me Anything tonight at 8 PM on the IAMA reddit.  Looking forward to hearing your questions on Open Borders, comics, and immigration generally.

P.S. Please share widely.

The post Caplan-Weinersmith Ask Me Anything Tonight! appeared first on Econlib.