Re: The Indeterminacy of Individual Economic Actions

2000-07-26 Thread Fred Foldvary
nformation, so inertia is to be expected. Optimality is subjective rather than being based on objective rewards. The reasons for anchoring (being stuck on certain concepts even though not objectively true or optimal) and information bias are the subject area of psychology rather than economics. Fred Foldvary

Re: Cafe Free riders

2000-09-14 Thread Fred Foldvary
a table. The free riding mostly occurs for folks getting one drink and then sitting for a long time. But as long as tables are available, it doesn't matter. Much of the business is to-go, anyway. Lap-top users get electricity at no extra charge, so free-riding has several margins. Fred Foldvary

Re: Gas

2000-09-18 Thread Fred Foldvary
, then in the short run, if refineries are running at full capacity, it seems to me the supply of gasoline is inelastic, if not fixed. Fred Foldvary

Re: upward sloping demand curves

2000-09-26 Thread Fred Foldvary
, then it is a different product, and the demand curve, which is for just one product, does not slope up. What about attributes of the product? Isn't that what we really demand? Yes. So the demand curve is for just one set of characteristics. Fred Foldvary

Re: Upward Sloping Demand Curves

2000-09-27 Thread Fred Foldvary
good. Try to reduce a price of a good that is familiar and has been selling at $49 to $48 and see if the quantity demanded declines. People won't knowingly throw away money unless they enjoy the throwing. Fred Foldvary

Re: Upward Sloping Demand Curves

2000-10-02 Thread Fred Foldvary
. Fred Foldvary

Re: This year econ nobel prize?

2000-10-11 Thread Fred Foldvary
On Mon, 9 Oct 2000, fabio guillermo rojas wrote: Any guesses on the econ nobel prize this year? -fabio My guess is that it will be James Heckman and Daniel McFadden. Fred (Of course it was easy to guess after the awards were announced.)

Re: Periodic redistribution

2000-10-18 Thread Fred Foldvary
of periodic redistribution? I'd appreciate a reference for this land redistribution in Russia. Fred Foldvary

Re: Top 10 Economic Puzzles

2000-10-24 Thread Fred Foldvary
What are the big unsolved puzzles of economic empirical research? -fabio How much is the total land rent of the United States or any other country, and how much would that rent be if all taxes having an excess burden were eliminated? Fred Foldvary

Re: Whither Wittmanian Public Choice?

2000-10-02 Thread Fred Foldvary
tman? Etch Charles Rowley and Michelle Vachris reubutted Wittman in their chapter on "The Virginia school of political economy" in Beyond Neoclassical Economics, ed. Fred Foldvary (Edward Elgar Publishing, 1996).

Re: fairness

2000-12-08 Thread Fred Foldvary
person having an equal chance of being picked. Fred Foldvary

Re: Pocket Change

2001-01-06 Thread Fred Foldvary
A friend of mine noticed that men tend to carry rather large amounts of change in their pockets compare to women. Any economic explanation of why this is? -fabio It seems to me we need more data to warrant the premise, than just "a friend of mine noticed". Fred Foldvary

Re: Property values

2001-01-12 Thread Fred Foldvary
Anybody know where I might find a time series index of the aggregate value of property in the United States? Eric Crampton Try the Balance Sheets for the US Economy, Federal Reserve Board. Fred Foldvary

Re: More Guns, Less Crime?

2001-01-19 Thread Fred Foldvary
in the US has the most liberty in self-defense and low crime rates relative to other states. Fred Foldvary

Re: The paint market

2001-02-16 Thread Fred Foldvary
dollars difference in the price of the paint when he is paying $20+ per hour for labor. Fred Foldvary

Re: The paint market

2001-02-16 Thread Fred Foldvary
Why, if financial markets are efficient, do some closed-end mutual funds sell at a discount from the market value of the securities (stocks, bonds, etc.) owned by the fund? Fred Foldvary

Re: U.S. income wealth inequality

2001-02-16 Thread Fred Foldvary
If everybody gets equally to what he produces, there still might be some redistribution for the top downwards due to charity. Krist van Besien But there is also income from land rent, which is independent of what one produces with labor. Fred Foldvary

Re: Growth, Wealth, and Race

2001-02-16 Thread Fred Foldvary
civilizations? This "finding" seems to be a historical concidence stemming from Europe having firearms and conquering the tropics. Fred Foldvary

Re: Growth, Wealth, and Race

2001-02-16 Thread Fred Foldvary
the area to the tropics, there were civilizations in India, Cambodia, Bali, Central America, Zimbabwe, and elsewhere, with remains in stone today. What is the source for the statement that the Aztecs had a lower standard of living than the Spanish? Fred Foldvary

Re: Growth, Wealth, and Race

2001-02-20 Thread Fred Foldvary
is the dominant variable in economic growth; Singapore and Hong Kong rate high even though they are in the tropics or nearby. Fred Foldvary

Re: the justification for urban planning

2001-10-26 Thread Fred Foldvary
and the neighborhood continues its downward spiral. The dilemma is solved by contractual agreements, such as the covenants of the residential association. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Make a great connection at Yahoo! Personals

Re: Tax with positive growth effect

2001-10-31 Thread Fred Foldvary
growth by taxing leisure, but that would distort choices and lead to less overall economic benefits. See the book Land and Taxation as well as Land Value Taxation Around the World (Vol 59 (5) supplement, 2000), American Journal of Economics and Sociology). Fred Foldvary = [EMAIL PROTECTED

Re: Tax with positive growth effect

2001-10-31 Thread Fred Foldvary
the land lord like to have idle land? If he does, fine; let him pay for that consumption. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Make a great connection at Yahoo! Personals. http://personals.yahoo.com

RE: Tax with positive growth effect

2001-11-01 Thread Fred Foldvary
is subtracted from the prevailing market prices in that neighborhood to estimate the land value. and what kind of land you are talking about All land. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Find a job, post your resume. http

Austrian school and universalist economics

2001-11-02 Thread Fred Foldvary
to attempt to integrate the warranted theory from all schools to create a universalist school? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Find a job, post your resume. http://careers.yahoo.com

Re: Tax with positive growth effect

2001-11-02 Thread Fred Foldvary
' paradox not disappear when the game is on-going and the participants may communicate? Why would a trade association with mutual benefits not work? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Find a job, post your resume. http

Re: Tax with positive growth effect

2001-11-02 Thread Fred Foldvary
. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Find a job, post your resume. http://careers.yahoo.com

Re: Tax with positive growth effect

2001-11-02 Thread Fred Foldvary
the difference. Alexander Guerrero I don't understand what difference you are referring to. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Find a job, post your resume. http://careers.yahoo.com

Re: Austrians and markets

2001-11-18 Thread Fred Foldvary
ones because these are the major free-market ones that currently exist and that could create the basis for the new movement. This would not just be a new wineskin but a new vintage of wine. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo

RE: random nobel

2001-10-10 Thread Fred Foldvary
--- [EMAIL PROTECTED] wrote: who is spence? Michael Spence is at Stanford University. From the Nobel press release: Michael Spence identified an important form of adjustment by individual market participants, where the better informed take costly actions in an attempt to improve on their

Re: 2001 Economic Nobelists

2001-10-10 Thread Fred Foldvary
Stiglitz would have liked to get the prize for the Modigliani-Miller theorem but that one was already taken. Alex Stiglitz also helped develop the Henry-George Theorem. Joseph Stiglitz, 1977, The Theory of Local Public Goods, in Economics of Public Services. Fred Foldvary = [EMAIL

Re: VS: looking for public choice views on the welfare state

2001-10-14 Thread Fred Foldvary
public choice view on / explanation of (the development of) the welfare state. Have you seen: Richard Wagner, To Promote the General Welfare, 1989. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Make a great connection at Yahoo

Re: Local news

2001-12-02 Thread Fred Foldvary
, and if it is contracted out, then it is not really the station's news presentation, and thus there would be a less personal relationship with the station. That is why national broadcasts also do their own news. It is e.g. CBS news, which creates an emotional bond with CBS and its anchormen. Fred

Heterodox conference

2001-12-03 Thread Fred Foldvary
FYI: CALL FOR PAPERS 4th ANNUAL CONFERENCE OF THE ASSOCIATION OF HETERODOX ECONOMICS 9-10 JULY 2002 Dublin, Republic of Ireland All economists are encouraged to come together and hear a diversity of papers on topics not well represented in mainstream economics. Papers from a plurality of

Re: Increased Demand for an Economics Degree

2001-12-05 Thread Fred Foldvary
sample is most likely too small to warrant a general conclusion that more want to take economics. Also, data alone cannot create a hypothesis. You also need to apply some theory. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Buy

Re: The Median Voter Theorem and Adoption Law

2002-01-07 Thread Fred Foldvary
of sugar beet farms? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Send FREE video emails in Yahoo! Mail! http://promo.yahoo.com/videomail/

Re: Only Economists Tell the Truth?

2002-01-15 Thread Fred Foldvary
with the means towards goals than on why folks have the goals that they do. We presume the means involve economizing, and then there is really no need to inquire personally beyond that; Max(U) given constraints C does the job, perhaps too abstractly. Fred Foldvary = [EMAIL PROTECTED

Re: Photographers

2002-01-25 Thread Fred Foldvary
might think it is the fault of the photographer. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Great stuff seeking new owners in Yahoo! Auctions! http://auctions.yahoo.com

Re: Spam: Legal, economic or technical problem?

2002-01-27 Thread Fred Foldvary
technology, but as one who has done computer programming, it seems to me that the simple solution is to require a field in the email headers that would be set to 1 if the email fits the legal definition of spam and 0 otherwise. Software could then easily handle the spam. Fred Foldvary = [EMAIL

Re: Spam: Legal, economic or technical problem?

2002-01-28 Thread Fred Foldvary
decrease the volume. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Great stuff seeking new owners in Yahoo! Auctions! http://auctions.yahoo.com

Re: Spam: Legal, economic or technical problem?

2002-01-28 Thread Fred Foldvary
you wish to eliminate all criminal codes? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Great stuff seeking new owners in Yahoo! Auctions! http://auctions.yahoo.com

Re: Spam: Legal, economic or technical problem?

2002-01-28 Thread Fred Foldvary
experience. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Great stuff seeking new owners in Yahoo! Auctions! http://auctions.yahoo.com

Re: drink prices

2002-02-04 Thread Fred Foldvary
of the expenses; most folks will just go along with reasonable price changes. So often, in such cases, we really don't know the final price. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Great stuff seeking new owners in Yahoo! Auctions! http

Re: The Economics of Military Stop-Loss Policies

2002-02-13 Thread Fred Foldvary
to stop-loss? Was stop-loss in the contract in the past, when those now subject to that policy enlisted? If the stop-loss policy was not in effect, and if the contract did not provide for this policy, then yes, it acts as a draft. Fred Foldvary = [EMAIL PROTECTED

Re: privatize parking spaces - market failure?

2002-02-15 Thread Fred Foldvary
at business locations. The market solution would be electronic parking meters that flexibly charge just enough to avoid congestion at any time of day or night. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Sports - Coverage

Re: privatize parking spaces - market failure?

2002-02-19 Thread Fred Foldvary
the space during those times. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Sports - Coverage of the 2002 Olympic Games http://sports.yahoo.com

Re: privatize parking spaces - market failure?

2002-02-20 Thread Fred Foldvary
are not willing, don't park there. Continuously high rates become a signal to provide more parking. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Sports - Coverage of the 2002 Olympic Games http://sports.yahoo.com

Re: Campaign finance changes

2002-03-05 Thread Fred Foldvary
The real problem is not how to get money out of politics but how to get politics out of money. Alex For my analysis of how to do this, see Recalculating Consent at: http://www.gmu.edu/jbc/fest/files/foldvary.htm Fred Foldvary = [EMAIL PROTECTED

Re: MBA's for senior exec's

2002-03-14 Thread Fred Foldvary
the learning into the category of urgent, so it gets done. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Sports - live college hoops coverage http://sports.yahoo.com/

Re: growth in the past 20 years

2002-03-20 Thread Fred Foldvary
economies poor. See http://www.freetheworld.com Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Sports - live college hoops coverage http://sports.yahoo.com/

Re: long-lasting cars

2002-03-28 Thread Fred Foldvary
, but we don't see these in the market today. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Movies - coverage of the 74th Academy Awards® http://movies.yahoo.com/

Re: Securities analysis

2002-04-02 Thread Fred Foldvary
. Investors Business Daily, for example, features articles on it. It is probably not complete nonsense, but for the non-professional investor, he best stick with Modern Portfolio Theory and not time the market. Fred Foldvary = [EMAIL PROTECTED

Re: re : securities analysis

2002-04-05 Thread Fred Foldvary
be held or others bought until the downturn, with no margin calls. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing with TurboTax http://taxes.yahoo.com/

Re: entropy and sustainability

2002-04-08 Thread Fred Foldvary
such articles nonsense. Entropy says a closed system will dissipate into unavailable energy. But the earth is not a closed system. It keeps getting solar energy, and therefore the biomass and economic activity can increase indefinitely, so long as the sun continues to shine. Fred Foldvary

Re: entropy and sustainability

2002-04-08 Thread Fred Foldvary
words, the entropy measures the complexity or variety of the random variable that underlies a process. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing with TurboTax http://taxes.yahoo.com/

Re: entropy and sustainability

2002-04-09 Thread Fred Foldvary
in the future? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing with TurboTax http://taxes.yahoo.com/

Re: Grade Inflation

2002-04-09 Thread Fred Foldvary
serve as a signal of knowledge, and also reveal the grade differential relative to test results. That, of course, is why such exams are not being implemented. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing

Re: entropy and sustainability

2002-04-10 Thread Fred Foldvary
that applications of a science can advance even if the science does not. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing with TurboTax http://taxes.yahoo.com/

Re: Grade Inflation

2002-04-10 Thread Fred Foldvary
, then it shows the degree and grades are still a sufficient criterion. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing with TurboTax http://taxes.yahoo.com/

Re: some history! RE: economic history question

2002-04-11 Thread Fred Foldvary
, without a welfare state. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing with TurboTax http://taxes.yahoo.com/

RE: economic history question

2002-04-11 Thread Fred Foldvary
saved implies the mixed economy we have always had. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing with TurboTax http://taxes.yahoo.com/

RE: Emotions and Entrepeneurship

2002-04-12 Thread Fred Foldvary
and about the means to ends. Economic rationality also does not judge beliefs. Hence, one may be out of touch with reality yet be economically rational. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Tax Center - online filing

Re: entropy and sustainability

2002-04-15 Thread Fred Foldvary
may have finite limits, but is the number of idea finite? Jason There are ultimate physical limits on the speed of data processing, but I don't see why there are any limits on computer programs, and thus no limit to software technology, even given hardware constraints. Fred Foldvary = [EMAIL

Re: Tax Leisure via Time Audits?

2002-04-25 Thread Fred Foldvary
are working at home? They will need a video camera. Anyone ever estimated the size of the deadweight loss from the income tax distortion? The book The Losses of Nations, estimates the US loss conservatively at over $1 trillion per year from all taxes. Fred Foldvary = [EMAIL PROTECTED

Re: What is a market?

2002-04-29 Thread Fred Foldvary
is implicitly paid to the bank in the form of profits. Although it's voluntary, it's certainly missing something important. No, it is just a different institutional structure for obtaining the interest or shifting who receives it. Fred Foldvary = [EMAIL PROTECTED

Re: Ricardian environmentalism

2002-05-10 Thread Fred Foldvary
assets, but I am not impressed. Mark Wilson Perhaps some environmentalists apply the same discount rate but place a value on the earth's overall natural environment at infinity, so that at any discount rate, the present value of having the natural environment survive would also be infinite. Fred

Re: Fw: Worldwide slowdown in economic growth

2002-05-13 Thread Fred Foldvary
that there will be less growth at rate lower than 20. Why is the optimal tax burden not less than 20? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? LAUNCH - Your Yahoo! Music Experience http://launch.yahoo.com

Re: Fw: Worldwide slowdown in economic growth

2002-05-14 Thread Fred Foldvary
for growth is a marginal tax rate of zero. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? LAUNCH - Your Yahoo! Music Experience http://launch.yahoo.com

Re: Fw: Worldwide slowdown in economic growth

2002-05-14 Thread Fred Foldvary
increase in intervention during the 60s and 70s retarded growth. There were some tax cuts after that had a positive supply-side effect. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? LAUNCH - Your Yahoo! Music Experience http

Re: 1970s global slowdown

2002-05-14 Thread Fred Foldvary
since 1982, so fiat money as such may impede but does not substantially halt growth. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? LAUNCH - Your Yahoo! Music Experience http://launch.yahoo.com

Re: In Praise of Pay Toilets

2002-05-28 Thread Fred Foldvary
probably be high if the owner instructed customers only but is out of the premises, so it would be a matter of how high the bribe would be in order for the supervisor to overturn the instructions. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo

Re: academic journals

2002-06-22 Thread Fred Foldvary
in itself and is perpetuated by cultural memes which are themselves the end. The question is whether the top economic journals do publish the most useful and innovative research and insights, or whether an academic culture has developed that self-perpetuates an illusion. Fred Foldvary

Re: high school economics

2002-06-24 Thread Fred Foldvary
and development The main concept to be appreciated in economics is the implicit reality that lies beneath the superficial appearance of economic activity. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA

Re: Amusement Park Lines and Concert Tickets

2002-07-05 Thread Fred Foldvary
Fred Foldvary wrote: Has any economist in this forum ever offered money to persons ahead of him to advance in a queue? I would do it if I thought other people wouldn't assume I was crazy or grifting. The problem is other people don't understand economics. Prof. Bryan Caplan

Re:

2002-07-09 Thread Fred Foldvary
into its account with the regional Federal Reserve Bank. The FED bank covers the check by increasing the private bank's reserves (deposits). That is how the FED explands money out of nothing. Fred Foldvary Fred Foldvary = [EMAIL PROTECTED] __ Do

Re: children and cooperation

2002-07-12 Thread Fred Foldvary
just from mere experience in interaction, since some never learn cooperation. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Sign up for SBC Yahoo! Dial - First Month Free http://sbc.yahoo.com

options for employees

2002-07-12 Thread Fred Foldvary
exercised recorded as an expense to the shareholders? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Autos - Get free new car price quotes http://autos.yahoo.com

Re: Why do people pick stocks?

2002-07-12 Thread Fred Foldvary
. This is generally found by behavioral economists. Ie, why do people accept lower returns just for the privilige of picking the stocks themselves? Besides being overconfident, they enjoy the picking and owning, and some like the thrill of risk. Fred Foldvary = [EMAIL PROTECTED

Re: Defense of Free Trade

2002-07-14 Thread Fred Foldvary
What is the best overall, relatively comprehensive (i.e. not just an intro to the basic principles) book arguing for free trade/globalization? John Jernigan One of the best books arguing for free trade remains the classic by Henry George, Protection or Free Trade. Fred Foldvary = [EMAIL

Re: Index mutual funds

2002-07-14 Thread Fred Foldvary
are a better deal than index mutual funds if you have $30,000. If you are able to accumulate $30,000 in cash every month, then mutual funds don't make sense. Why would index mutual funds not make sense? Fred Foldvary = [EMAIL PROTECTED] __ Do

Re: Why do people pick stocks?

2002-07-14 Thread Fred Foldvary
time to time. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Autos - Get free new car price quotes http://autos.yahoo.com

Re: Why do people pick stocks?

2002-07-15 Thread Fred Foldvary
don't know if that's the case today. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Autos - Get free new car price quotes http://autos.yahoo.com

Re: if coins were rare

2002-07-15 Thread Fred Foldvary
, and they could easily do so again. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Autos - Get free new car price quotes http://autos.yahoo.com

Re: Republican Reversal

2002-07-16 Thread Fred Foldvary
, for example, that it is good policy to spend billions on farm subsidies, or are they just ignorant and apathetic? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Autos - Get free new car price quotes http://autos.yahoo.com

Re: Republican Reversal

2002-07-17 Thread Fred Foldvary
contribute funds to candidates if the representatives would vote for the subsidy anyway? Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Autos - Get free new car price quotes http://autos.yahoo.com

Re: take-in/eat out

2002-07-22 Thread Fred Foldvary
drinkers makes it more attractive (it must be really good), so in a way the table rent seekers too contribute, just not in cash. Likewise a full restaurant may increase the to-go demand. I think this is deja-vu. Fred Foldvary = [EMAIL PROTECTED

Re: median voter and financial scandal

2002-07-23 Thread Fred Foldvary
sympathetic towards reform. Only in such cases can the moneyed interests be overcome. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Health - Feel better, live better http://health.yahoo.com

RE: Glum losers auction -- election reform we'll never see

2002-07-29 Thread Fred Foldvary
is elected is their man. Fred Foldvary = [EMAIL PROTECTED] __ Do You Yahoo!? Yahoo! Health - Feel better, live better http://health.yahoo.com

Re: free-vs-competitive

2002-07-29 Thread Fred Foldvary
market has #1 competition, but with some industries not having much of #2 competition. So long as the market is truly free, it is competitive #1, so the presence of market power in some industries does not harm the public or require intervention. Hayek and Friedman are thus reconciled. Fred

Re: efficient markets ...

2002-08-03 Thread Fred Foldvary
, and some are just lucky. Fred Foldvary = [EMAIL PROTECTED]

cultural cues and queues

2002-08-03 Thread Fred Foldvary
. My wife agrees with my hypothesis. She says such a thing #34;is just not done.#34; Admittedly, this is a small sample, but it seems to be that the experiment would have a similar result if repeated. Fred Foldvary = [EMAIL PROTECTED]

Re: efficient markets ...

2002-08-03 Thread Fred Foldvary
have the incentive to provide honest auditing if it had to pay the insured customers for any fraud. Fred Foldvary = [EMAIL PROTECTED]

Re: efficient markets ...

2002-08-03 Thread Fred Foldvary
these have the lowest costs, and active picking seldom performs better. Fred Foldvary = [EMAIL PROTECTED]

Re: Savings Rates

2002-08-12 Thread Fred Foldvary
for investment in more capital goods, this is a positive rather than zero-sum game for society. So one could differentiate zero-sum from positive-sum savings. Fred Foldvary = [EMAIL PROTECTED]

Re: charlatanism

2002-08-14 Thread Fred Foldvary
to specific history, but still posterior to experience, however general. Most of textbook microeconomics is a priori. For example, when deriving the law of demand, do they justify this with data? Fred Foldvary = [EMAIL PROTECTED]

Re: Nations as Corporations

2002-08-14 Thread Fred Foldvary
influence, and there would be little change in government spending. Fred Foldvary = [EMAIL PROTECTED]

Re: Nations as Corporations

2002-08-14 Thread Fred Foldvary
statements are compatible. In society there are minorities with little power and other minorities with much power. For example, a country could have a ruling elite with much wealth and power, and also despised minorities with little power. Fred Foldvary = [EMAIL PROTECTED]

Re: charlatanism

2002-08-14 Thread Fred Foldvary
in the pursuit of ends, namely economizing or optimizing. Fred Foldvary = [EMAIL PROTECTED]

the wealth effect

2002-08-16 Thread Fred Foldvary
effect on households is the greatest of these, since what matters is MV, not money holdings at some moment in time. With lower prices, the flow of income MV buys more stuff, and that should swamp the interest rate effect. If Keynesians are correct, I'd be interested in an explanation. Fred Foldvary

AD and the wealth eff

2002-08-16 Thread Fred Foldvary
in the explanation of why my argument is not. Fred Foldvary = [EMAIL PROTECTED]

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