Young Economics.

Some links

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  • People can marginally improve the accuracy of guesses through dialectical bootstrapping.  The idea is presented as though it were a sort of one-person version of the ‘wisdom of crowds’ principle.  I don’t think this is quite correct; in dialectical bootstrapping, the second guess is not independent of the first.  Nevertheless, the idea is neat.
  • Prominent utilitarian philosopher Peter Singer wonders, “Can business be ethical?” I have never taken a business ethics course or even read much in the field.  Even leaving aside the question of whether ‘ethical businesspeople’ could survive in the competitive business world, what are some precise examples of common business practices that would not survive a shift toward more ethical business?
  • Are we still heading for a new Great Depression?  Gary Burtless at Brookings suggests that it is unlikely.
  • From Maclean’s: Why Barack Obama is bad for Canada.  Their basic point is that Obama’s policies will be bad for the Alberta oil sands industry, and that this would be an economic disaster for Canada.  My view is that carbon energy should be harvested if and only if the marginal benefit exceeds the marginal cost, including the environmental cost.  As long as oil prices trend upward in the long run, it would take a very high carbon price to render the oil sands unprofitable.  Policies specifically designed to punish ‘dity oil’ production would be harmful, and I suspect that Canadian officials will fight them.  But a generalized carbon pricing regime wouldn’t be bad, especially if it is accompanied by reductions in other taxes.  If only we had a politician in Canada who would propose some kind of green tax shift, to prepare us for these developments in the United States. . . .
  • Michael Jackson is dead.  Don’t it make you wanna scream?
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Written by Alex

June 25, 2009 at 4:28 pm

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