Consider this a Robin Hanson-style post. Basic textbook economics says that workers’ wages are determined by marginal productivity. (Here’s a quick explanation from Mankiw intended for a popular audience. Deep in…
I was surprised – and pleased – to learn yesterday that the Stanford Encyclopedia of Philosophy has a new entry up on Thomas Paine. The entry came as a surprise because,…
Eric Schliesser (Ghent) responds here. Some quotations: Brennan implies that the folk who advocate the moral outsourcing argument are economic nitwits. Brennan’s ridicule surprises me because these government subsidies (food stamps,…
Chez Volokh, from Randy Barnett, Ilya Somin and again, and Jonathan Adler.
Suppose, on a reasonably competitive market, that Bob’s labor is worth at most $1/hr to any potential employer. (Suppose that this is the best Bob will be able to produce…
In a previous post, I rehearsed some reasons why I think care ethics might be best actualized in society through markets. I will expand on those reasons in a future…