Re: Median Wages

2007-04-13 Thread Fred Foldvary
greater productivity. Fred Foldvary Santa Clara University

Re: paid parking a market failure?

2005-10-16 Thread Fred Foldvary
than zero, there being no free alternative, why would the lot owner not charge a positive price? Fred Foldvary

Re: paid parking a market failure?

2005-10-14 Thread Fred Foldvary
--- Ricardo Gambirasio [EMAIL PROTECTED] wrote: I fail to see what's so special about parking. Parking as such is indeed not a special case. It only illustrates the general case. also in software, I don't see how software, etc., are similar. With software, shoes, etc., I pay for actual use

Re: paid parking a market failure?

2005-10-14 Thread Fred Foldvary
? Fred Foldvary

Re: paid parking a market failure?

2005-10-14 Thread Fred Foldvary
fountains have no charge. Lots of services are priced at zero. Fred Foldvary

Re: paid parking a market failure?

2005-10-14 Thread Fred Foldvary
when the lot is full? Fred Foldvary

Re: paid parking a market failure?

2005-10-14 Thread Fred Foldvary
to an allocation with prices. No, that is not a correct inference. Is the marginal consumer the last to get a space, or the first to be turned away? It is the next one to get a space. Nobody gets turned away, because when the lot is full, there is a positive price. Fred Foldvary

paid parking a market failure?

2005-10-13 Thread Fred Foldvary
? Fred Foldvary

Re: Katrina and the Evacuation: Market Failure?

2005-09-07 Thread Fred Foldvary
be culpable. Today, everybody expects the cavalry that trots to the rescue to be governmental. Fred Foldvary

Re: Katrina and the Evacuation of the Poor and Infirm: Market Failure?

2005-09-07 Thread Fred Foldvary
slaughters, Rwanda genocide, etc. Fred Foldvary

Re: Interest rates and housing

2005-08-19 Thread Fred Foldvary
Are you saying that there's a real cycle of real estate that takes 18 years from (from peak to peak or from peak to trough?)? David That is the usual cycle, although there are exceptions. That seems different from your initial contention that the current bubble has been caused by

Re: Interest rates and housing

2005-08-19 Thread Fred Foldvary
If the real estate cycle is based on government expansion of money, David It is based on that and also on fiscal policy and the inherent nature of real estate rentals and construction. why has it been the same under three or four different monetary systems? It does not matter much to the

Re: Interest rates and housing

2005-08-18 Thread Fred Foldvary
If government has caused a real estate price bubble by artificially lowering interest rates, how can it have an 18-year cycle, David Because real estate construction takes years, and recovery from a downturn takes years. An exception is an inflationary boom that is not a real economic

Re: libertarian paternalism

2004-12-24 Thread Fred Foldvary
? No freedom is lost. It is not immoral, since there is no coercion. One situation where this question comes up is in designing 401k plans. What exactly is the moral issue? Fred Foldvary

Re: lotteries and elections

2004-09-08 Thread Fred Foldvary
On Tue, 7 Sep 2004, Fred Foldvary wrote: Of course one has a right to complain, but what is meant is that by not casting a ballot, one has voted to let the others decide, so if you later complain, you contradict yourself. ... You're offering a fixed coin here. Heads I don't vote and I

Re: lotteries and elections

2004-09-07 Thread Fred Foldvary
is that by not casting a ballot, one has voted to let the others decide, so if you later complain, you contradict yourself. Fred Foldvary

Re: lotteries and elections

2004-09-02 Thread Fred Foldvary
time cost of casting the ballot. Fred Foldvary

Re: Private urban green space

2004-08-03 Thread Fred Foldvary
public as in public sector. Collective goods can be provided by private firms or by government. Solved publicly is ambiguous because it can mean solved by a group or solved by government officials. Fred Foldvary

Re: Private urban green space

2004-08-01 Thread Fred Foldvary
goods are facts to which economists apply theory like any phenomenon. There is nothing inherently good or bad about public goods. Fred Foldvary

Re: Private urban green space

2004-07-30 Thread Fred Foldvary
green space, as do land trusts and proprietary communities such as Walt Disney World. See my book * Public Goods and Private Communities *, chapters on Arden Village, the Reston Association and Walt Disney World. Fred Foldvary

Re: [armchair] Re: spamonomics

2004-01-22 Thread Fred Foldvary
Fraud is not part of the market. Fred Foldvary --- Ron Baty [EMAIL PROTECTED] wrote: Fraud should not be part of the market but always has been and will likely continue to be part of any realistic market A pure market consists of voluntary economic acts, and theft, including fraud, has

Re: spamonomics

2004-01-21 Thread Fred Foldvary
that there is magic, e.g. Santa Claus and the tooth fairy. If parents would keep it real with children, children would be less likely to belive in getting something for nothing or something beyond the possibility frontier. Fred Foldvary

Re: increases money supply over time?

2004-01-14 Thread Fred Foldvary
Fred Foldvary Wrote: The Fed buys bond and in effect pays with a check. john hull [EMAIL PROTECTED] wrote: To buy back bonds, it must have sold them at some time in the past. No. The Fed does not buy the bonds back. They buy bonds in the market, just as any buyer would. If you buy bonds

The blue line

2004-01-13 Thread Fred Foldvary
it, and whether onecan removeit in replying. Fred Foldvary

Re: Too many choices

2004-01-06 Thread Fred Foldvary
and less happy. What data makes it seem so? What do list members think of this? Where's the evidence? If people are too affluent, could they give some of their money away and become happier? This is in fact what many of them do. Fred Foldvary = [EMAIL PROTECTED]

Re: why aren't we smarter?

2003-12-08 Thread Fred Foldvary
go hand in hand. David Levenstam Success in what? Many high-IQ persons do not have wealth as their highest goal. Also, chance falls equally on the high and low IQs. Fred Foldvary = [EMAIL PROTECTED]

Re: Why is a dollar today worth more than a dollar tomorrow?

2003-12-07 Thread Fred Foldvary
more borrowing, other things equal, but with higher inflation and greater business uncertatainty, other things may not be equal. Fred Foldvary = [EMAIL PROTECTED]

tax credit for housing?

2003-12-07 Thread Fred Foldvary
of housing, which then requires a bigger credit. The credit reduces tax revenue, and so for a given budget, other taxes get increased, so the result is further distortion of prices and a greater excess burden on the economy. This treats the symptom rather than cure the cause. Fred Foldvary = [EMAIL

Re: Why is a dollar today worth more than a dollar tomorrow?

2003-12-06 Thread Fred Foldvary
demanded for loans exceeds the quantity of loanable funds from savings, so this scarcity drives up the rate just as with other prices. Fred Foldvary = [EMAIL PROTECTED]

Re: Real wages constant since 1964?!

2003-12-06 Thread Fred Foldvary
If you measure wages in desk calculators instead of dollars, I'm sure they've gone up substantially! ;-) --Robert And if you measure wages in units of a real-estate price index, they have gone down substantially! Fred Foldvary = [EMAIL PROTECTED]

Re: Real wages constant since 1964?!

2003-12-06 Thread Fred Foldvary
the per-capita increase in GDP is exagerated. Fred Foldvary = [EMAIL PROTECTED]

Re: Why is a dollar today worth more than a dollar tomorrow?

2003-12-05 Thread Fred Foldvary
? Sampo Syreeni, aka decoy - mailto:[EMAIL PROTECTED], tel:+358-50-5756111 That does not explain it, because many folks would save SOME of their income even if the interest rate were zero. Fred Foldvary = [EMAIL PROTECTED]

Re: Why is a dollar today worth more than a dollar tomorrow?

2003-12-05 Thread Fred Foldvary
come close to. Fred Foldvary = [EMAIL PROTECTED]

Re: Inflation-Free Currency

2003-11-27 Thread Fred Foldvary
hours exchange with dollars or euros. They are trading an hour of labor for a pound of carrots regardless of the exchange rates with fiat money. Fred Foldvary = [EMAIL PROTECTED]

Re: Why is local currency good or bad or neither?

2003-10-31 Thread Fred Foldvary
--- Sampo Syreeni [EMAIL PROTECTED] wrote: On 2003-10-30, Fred Foldvary uttered: So basically this is a response to credit constraints. Another reason people may be inclined to use local currencies is that the narrow circulation and informal accounting usually associated with them make

Re: financial leverage

2003-10-31 Thread Fred Foldvary
maturity, then yes, you will have a profit if the inflation rate has not risen to offset the after-tax gain. If the interest you pay on your borrowed funds is tax-deductible but the interest you receive is not taxable, so much the better. Fred Foldvary = [EMAIL PROTECTED]

Re: Why is local currency good or bad or neither?

2003-10-31 Thread Fred Foldvary
are not crying. Fred Foldvary = [EMAIL PROTECTED]

Re: Why is local currency good or bad or neither?

2003-10-31 Thread Fred Foldvary
. Fred Foldvary = [EMAIL PROTECTED]

Re: gold rush

2003-10-02 Thread Fred Foldvary
. Also, the price of gold was depressed for so long that once demand rose, others took note and bought. Fred Foldvary = [EMAIL PROTECTED]

Re: intellectual property

2003-09-17 Thread Fred Foldvary
also agrees not to sell the book. It would be like a covenant that goes with the book. Fred Foldvary = [EMAIL PROTECTED]

Re: immigration's effect on per capita GDP

2003-09-04 Thread Fred Foldvary
much sense. The police themselves tolerate technical law violations. They usually don't ticket drivers who are driving slightly past the speed limit. Fred Foldvary = [EMAIL PROTECTED]

Re: immigration: net gain or net drain?

2003-09-03 Thread Fred Foldvary
rent their premises would get no surplus from being employers. Fred Foldvary = [EMAIL PROTECTED]

Re: Horses and Subsistence Farming

2003-08-22 Thread Fred Foldvary
farmer gets a horse, but that is to achieve, rather than rise above, subsistence. Fred Foldvary = [EMAIL PROTECTED]

Re: California Recall

2003-07-29 Thread Fred Foldvary
--- [EMAIL PROTECTED] wrote: I'd wager $10 that Davis will be recalled--and then win reelection. David Does the recall law permit the incumbent to be on the ballot for the new governor if he loses the recall? Fred = [EMAIL PROTECTED]

Re: California Recall

2003-07-29 Thread Fred Foldvary
for the Democrats would be for Davis to win the recall election, thus they are avoiding providing an attractive Democrat alternative. Fred Foldvary = [EMAIL PROTECTED]

Re: California Recall

2003-07-29 Thread Fred Foldvary
Schwartzeneger will not run, so Riordan, a Republican 2002 primary-election candidate, will run, and is most likely to win the plurality race. Negative ads knocked him off the general election in 2002, but will not work so easily this time. What's the predicted outcome? Fabio = [EMAIL

Re: Absolute vs. relative income level

2003-07-23 Thread Fred Foldvary
i think there is a at least partial contradiction between the hypothesis of diminishing marginal return of income and the hypothesis that people care about consuming more than their neighbors or about earning more than their neighbors (Frank: Luxury Fever). If the latter is true than the

Re: Absolute vs. relative income level

2003-07-23 Thread Fred Foldvary
or extra leisure. Fred Foldvary = [EMAIL PROTECTED]

Re: calculating the irrational in economics

2003-07-02 Thread Fred Foldvary
in index funds. Fred Foldvary = [EMAIL PROTECTED]

Re: some people are optimizers

2003-07-01 Thread Fred Foldvary
with the intelligence to choose not to have children when the cost and risk are high. Fred Foldvary = [EMAIL PROTECTED]

Re: socialism historical?

2003-06-18 Thread Fred Foldvary
redistribution 2) command economy 3) government ownership 4) worker cooperatives; worker ownership of capital 5) forced collectivism Fred Foldvary = [EMAIL PROTECTED]

Re: socialism historical?

2003-06-18 Thread Fred Foldvary
, indeed to pre-historical tribal practice and belief? Fred Foldvary = [EMAIL PROTECTED]

labor supply

2003-06-18 Thread Fred Foldvary
or not? Does this take into account that workers may migrate or change their commute destination? Also, if labor has a fixed supply, does this include the premium for human capital? Fred Foldvary = [EMAIL PROTECTED]

socialism historical?

2003-06-17 Thread Fred Foldvary
, what year does it take effect, and why is the time element involved? Fred Foldvary = [EMAIL PROTECTED]

Re: Health insurance for kids

2003-06-17 Thread Fred Foldvary
the insurance company has laid down this policy or whether the employer is subsidizing the extra children. Fred Foldvary = [EMAIL PROTECTED]

RE: decreasing voter rates, a simple theory

2003-06-10 Thread Fred Foldvary
, just as shareholders of a corporation may delegate to proxies. Fred Foldvary = [EMAIL PROTECTED]

Re: charity and time preference

2003-06-07 Thread Fred Foldvary
is exactly the same. Fred Foldvary = [EMAIL PROTECTED]

Re: charity and time preference

2003-06-07 Thread Fred Foldvary
child is born, one should borrow enough money to create a fund that will pay for all the child's expenses until his age of maturity, rather than pay for the child's expenses every year out of one's income. Yet nobody does this! Fred Foldvary = [EMAIL PROTECTED]

Re: broadcast spectrum rent

2003-06-06 Thread Fred Foldvary
excellent case could be made for either requiring the spectrum to be used for anything *but* television (best), or making television a government monopoly: ~Alypius That reflects your personal preferences, but what is the moral justification for imposing your anti-TV personal values? Fred

Re: charity and time preference

2003-06-06 Thread Fred Foldvary
, then the amount of funds today equals the present value. Some charities have an urgent need at the present, such as earthquake aid or feeeding people in a famine. If one gives later, it would be too late. Fred Foldvary = [EMAIL PROTECTED]

broadcast spectrum rent

2003-06-05 Thread Fred Foldvary
for the highest and best social use of the spectrum. Fred Foldvary = [EMAIL PROTECTED]

Re: Charity

2003-06-04 Thread Fred Foldvary
opportunity to provide a comprehensive Guide to Charities that would list them and their expenses. Fred Foldvary = [EMAIL PROTECTED]

Re: Timing of Mother vs. Lover Flowers

2003-06-04 Thread Fred Foldvary
(with permission) and puts them in a vase one already has, in the general American culture, who would likely think that this is a thoughtful gift because of the personal effort, and who would likely think the giver was being cheap? a) mother b) wife c) exclusive girlfriend d) non-exclusive girlfriend Fred

Re: Is a non-optimizing organism evolutionarily viable?

2003-06-01 Thread Fred Foldvary
--- john hull [EMAIL PROTECTED] wrote: Is an organism that routinely fails to optimize evolutionarily viable? Human beings, for example? Fred Foldvary = [EMAIL PROTECTED]

Re: Theory of Perverse Government Tangents

2003-05-31 Thread Fred Foldvary
providing funds and supporting the outcome? THAT is the real source of the problem. Your overseer is just exploiting the system. Fred Foldvary = [EMAIL PROTECTED]

RE: Rational Paranoia? A strange idea...

2003-05-30 Thread Fred Foldvary
to me that paranoia is a belief, not a behavior. It can lead to particular behaviors, but paranoia by itself is not sufficient to cause any particular behavior. Fred Foldvary = [EMAIL PROTECTED]

RE: Questions about the stagflation episode...

2003-02-03 Thread Fred Foldvary
--- Grey Thomas [EMAIL PROTECTED] wrote: First off, if macro is at all close to a science, there should be near unanimity, among macro experts, Is there unanimity among anthropologists and biologists and physicists and medical researchers? Fred Foldvary = [EMAIL PROTECTED]

Re: Questions about the stagflation episode...

2003-02-03 Thread Fred Foldvary
before the Sept. 11 shock? Fred Foldvary = [EMAIL PROTECTED]

Re: Advise to Journalists: keep it real!

2003-02-03 Thread Fred Foldvary
and long-run effect along with the immediate and local effect. Tell the journalists to keep it real. Economics discovers and analyzes the implicit realities. Fred Foldvary = [EMAIL PROTECTED]

Re: are real estate markets competitive?

2003-01-25 Thread Fred Foldvary
this run with the land or with the farmer? Fred Foldvary = [EMAIL PROTECTED]

Re: Bubblemania

2003-01-24 Thread Fred Foldvary
chance of disaster than the sure trauma of changing locations and affiliations. Fred Foldvary = [EMAIL PROTECTED]

Re: are real estate markets competitive?

2003-01-24 Thread Fred Foldvary
, there is plenty of competition in cities. Maybe not in some rural areas. Fred Foldvary = [EMAIL PROTECTED]

RE: Lester's extreme compatibility thesis

2003-01-19 Thread Fred Foldvary
initiation by the monarchies of Germany, Austria, Turkey, the UK and Russia, fit this? Fred Foldvary = [EMAIL PROTECTED]

Re: Neutral taxation?

2003-01-18 Thread Fred Foldvary
. If the tax is $899,999, this implies that the player was already getting paid $1 million. The tax will not make the player leave. Another team will not offer $100,001 because the premise was that the next best opportunity was $100,000. Fred Foldvary = [EMAIL PROTECTED]

neutral taxation

2003-01-18 Thread Fred Foldvary
. In both cases, the player plays for A, so the tax did not affect his choice. Fred Foldvary = [EMAIL PROTECTED]

Re: neutral taxation

2003-01-18 Thread Fred Foldvary
above $100,000 being economic rent, with a team that offers him $1 million, his net is 100,000+.1*900,000= $190,000. With a team that offers him $210,000, his net is 100,000 + .1*110,000 = 111,000. Why would he be indifferent between $190,000 and $111,000? Fred Foldvary = [EMAIL PROTECTED]

Re: neutral taxation

2003-01-18 Thread Fred Foldvary
--- Eric Crampton [EMAIL PROTECTED] wrote: On Sat, 18 Jan 2003, Fred Foldvary wrote: 2) The government does not know the economic rent among the basketball teams, but it does know that the next best opportunity if he does not play basketball is $100,000. The government taxes the income

Re: Neutral taxation?

2003-01-18 Thread Fred Foldvary
amount, and the funds are used to provide a collective good. Since utility is subjective and differs among persons, the value of the good would differ among the persons. Thus there would be an implicit redistribution from those who don't highly value the good to those who do. Fred Foldvary

Re: Neutral taxation? with respect to what?

2003-01-17 Thread Fred Foldvary
--- [EMAIL PROTECTED] wrote: By neutral I actually thought you mean one that wouldn't prejudice people's economic behavior. By that definition I can't imagine any neutral tax. Why can you not imagine that a tax on economic rent is neutral? Fred Foldvary = [EMAIL PROTECTED]

Re: Neutral taxation?

2003-01-17 Thread Fred Foldvary
. Fred Foldvary = [EMAIL PROTECTED]

Re: National sales tax (was: Re: Neutral taxation?)

2003-01-17 Thread Fred Foldvary
too. Fred Foldvary = [EMAIL PROTECTED]

Re: May not be combined with other offers

2003-01-17 Thread Fred Foldvary
. Fred Foldvary = [EMAIL PROTECTED]

Re: questions about dividend tax cut

2003-01-16 Thread Fred Foldvary
net worth. If the change in net worth is negative, it gets subtracted from consumption. It is possible for income to be negative. Fred Foldvary = [EMAIL PROTECTED]

RE: Neutral taxation?

2003-01-16 Thread Fred Foldvary
some services, do you then complain that you paid money and got services? Fred Foldvary = [EMAIL PROTECTED]

RE: Neutral taxation

2003-01-16 Thread Fred Foldvary
--- Susan Hogarth [EMAIL PROTECTED] wrote: I would tend to agree with Larry Sechrest here -- viz., there are no neutral taxes. (Sechrest's position is laid out in his Rand, Anarchy, and Taxes in _The Journal of Ayn Rand Studies_ 1(2).) Do any of you agree? I suppose there *could* be a

RE: Neutral taxation?

2003-01-16 Thread Fred Foldvary
a tax on land value and on pollution, plus user fees, why would we also need a flat tax on income? It seems to me the former would be sufficient. Fred Foldvary = [EMAIL PROTECTED]

Re: Neutral taxation?

2003-01-16 Thread Fred Foldvary
--- [EMAIL PROTECTED] wrote: I can't imagine any tax that would be neutral A tax on economic rent is neutral, since by definition, economic rent is income not necessary in order to put a factor to its most productive use. Fred Foldvary = [EMAIL PROTECTED]

RE: Neutral taxation?

2003-01-16 Thread Fred Foldvary
) it forces workers to work extra to pay the tax in order to get some amount of net income. Fred Foldvary = [EMAIL PROTECTED]

Re: Neutral taxation?

2003-01-16 Thread Fred Foldvary
--- [EMAIL PROTECTED] wrote: A tax on economic rent is neutral, since by definition, economic rent is income not necessary in order to put a factor to its most productive use. Fred Foldvary I'm not sure if I'm following this, but it sounds like you're saying that it's okay to tax non

Re: Neutral taxation?

2003-01-16 Thread Fred Foldvary
in large elections is epsilon, I would be very happy to have a voting tax and avoid voting. I just wonder how many people would pay the price of voting. Fred Foldvary = [EMAIL PROTECTED]

Re: Taxes direct and indirect

2003-01-15 Thread Fred Foldvary
distinction, they referred to Physiocratic doctrine. Fred Foldvary = [EMAIL PROTECTED]

Re: questions about dividend tax cut

2003-01-15 Thread Fred Foldvary
that against tax liabilities of dividend income. To achieve neutrality, unrealized gains should be taxed annually, and then we can forget about capital gains. That being said, the income tax is inherently unjust, complex, and burdensome, but that is another story. Fred Foldvary = [EMAIL PROTECTED]

RE: going on about 'statists' -- what tax policy works best?

2003-01-15 Thread Fred Foldvary
Help please -- is there a good tract on Austrian tax policy, ordering or ranking various taxes? Tom Grey Probably not, but a good book on tax policy and the effects of current taxes is: The Losses of Nations, ed. Fred Harrison, 1998, Othila Press, ISBN 1 901647 15 3 Fred Foldvary

Re: Taxes direct and indirect

2003-01-15 Thread Fred Foldvary
. True, in some of these acts a tax on slaves was included, but this inclusion, as has been said by this court, was probably based upon the theory that these were in some respects taxable along with the land,... Fred Foldvary = [EMAIL PROTECTED]

Re: Tax cuts and US citizen responses

2003-01-13 Thread Fred Foldvary
by the directors and executives. Some believe that lower marginal tax rates will lead to more investment. Fred Foldvary = [EMAIL PROTECTED]

Taxes direct and indirect, was: Dividend Tax cut

2003-01-13 Thread Fred Foldvary
to rent (cf. John Locke on taxation). But once a tax on slaves and on buildings is designed as direct, then so too must be taxes on a horse and carriage or any other property. Fred Foldvary = [EMAIL PROTECTED]

Re: questions about dividend tax cut

2003-01-13 Thread Fred Foldvary
about the company as it shifts to less debt and more equity, as well as more investor confidence when the profits are sent to the shareholders rather than retained by possibly theiving executives. Fred Foldvary = [EMAIL PROTECTED]

Re: questions about dividend tax cut

2003-01-13 Thread Fred Foldvary
it is that the proposal does indeed cut the tax on capital gains to the extent it is due to retained earnings, as the attempt is neutrality with repect to paying dividends or not. However, to truly do capital gains right, it needs to be indexed for inflation. Fred Foldvary = [EMAIL PROTECTED]

Re: Accountancy vs Entrepreneurship

2003-01-13 Thread Fred Foldvary
--- Francois-Rene Rideau [EMAIL PROTECTED] wrote: What is the right technical name for what I call accounting cost? These are often called explicit costs in contrast to implicit costs. Fred Foldvary = [EMAIL PROTECTED]

Re: Babynomics

2003-01-11 Thread Fred Foldvary
are children able to understand the concept of interest? In terms of discounting the future, or what? At what age do children understand that exchange can make you better off? When they understand that theft will not. Fred Foldvary = [EMAIL PROTECTED]

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