The Grumpy Economist

John Cochrane's blog

Thursday, March 4, 2021

Europe productivity -- and US too

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    Source  Stephan Schubert Source: Chad Jones "straight out of the Penn World Tables, and I first learned about it from Lee Ohanian a...
3 comments:
Wednesday, March 3, 2021

The puzzle of Europe

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Here are two unsettling slides I made for a talk. Here is GDP per capita in US, UK, France and Italy and China (2020 dollars, source world b...
54 comments:

Goodman on single payer

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With the current focus on "equity" and "disadvantage," even in the midst of a pandemic, one might yearn for the simplici...
15 comments:
Sunday, February 28, 2021

r < g

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r<g is an essay on the question whether r<g means the government can borrow and not worry about repaying debts. No.  Abstract: A si...
27 comments:
Saturday, February 27, 2021

Fiscal theory of the price level draft

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The Fiscal Theory of the Price Level  is a book I'm writing on that topic. It now has a full draft, here .  Comments, typos, suggestions...
16 comments:
Monday, February 22, 2021

Econtalk on virus

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About a month ago, Russ Roberts and I had a great conversation about virus, vaccine, and tests for the Econ Talk podcast, and the free marke...
6 comments:
Thursday, February 18, 2021

Lipson on basic decency

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Why are people gloating over Rush Limbaugh’s death?  Charles Lipson writes   The gloating over Rush Limbaugh’s death ought to shock the cons...
72 comments:
Wednesday, February 17, 2021

Institutional culture

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Arnold Kling has an intriguing series of blog posts  on the nature of universities and other institutions that are, as he says, cancel-bait....
23 comments:
Tuesday, February 16, 2021

Vaccine math. $500 per shot?

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I'm reading up on the $1.9 trillion "stimulus." This caught me eye :  Biden's plan would set out $160 billion for a nation...
23 comments:

Test snafu

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Wouldn't it be nice if there were a $5 test that works in minutes, and can find asymptomatic people who might transmit covid? Imagine ho...
13 comments:

The wages of stimulus

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  Discussing stimulus, a colleague passed along a factoid -- wages and salaries, he said,  are running $20 billion a month or $240 billion a...
10 comments:

Inflation issues

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  In analyzing whether inflation is coming, Mickey Levy at Berenberg Capital passes along the above graph. These are price indices, so the ...
15 comments:
Friday, February 5, 2021

A modest proposal for vaccine rationing

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A mid-20s child of a good friend just got the vaccine. Why? He runs a micro-brewery, which his state deemed "essential," because i...
32 comments:
Tuesday, February 2, 2021

Trading halts and game over

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David Battan writing in the WSJ brings come clarity to Robin Hood's trading stop.  It raises some questions for me, however. Much of th...
42 comments:
Friday, January 29, 2021

Long and short of bubbles -- Grumpy podcast with Owen Lamont

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The long and short of bubbles. A conversation with Owen Lamont on Gamestop and other matters. See my   last post for background and great p...
4 comments:
Thursday, January 28, 2021

Gamestop. 1999 déjà vu all over again?

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In case you haven't noticed, Gamestop and a few similar stocks are in a classic bubble. At least it was at 8 AM pacific when I read the ...
39 comments:
Wednesday, January 27, 2021

Jay Bhattacharya on good fellows; tests vaccines and more

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Podcast: Link in case the above embeds don't work.  Stanford Doctor and Professor  Jay Bhattacharya joins the GoodFellows for an en...
5 comments:

Open smart, redux

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Open smart, I and other economists argued back in March. Don't just shut lock down the whole economy willy-nilly. An auto-body paint sho...
3 comments:
Sunday, January 24, 2021

Libertarian pandemic

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 " Libertarians in a pandemic " is a good essay by Jacob Grier expanding on many themes I've written about here, whether marke...
13 comments:
Wednesday, January 20, 2021

Grumpy economist podcast: free market tests, vaccines and more

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The Grumpy Economist podcast is back, and we're going to aim for a once per two week schedule. This week we talk about vaccines, tests, ...
2 comments:
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About Me and This Blog

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John H. Cochrane
This is a blog of news, views, and commentary, from a humorous free-market point of view. After one too many rants at the dinner table, my kids called me "the grumpy economist," and hence this blog and its title. In real life I'm a Senior Fellow of the Hoover Institution at Stanford. I was formerly a professor at the University of Chicago Booth School of Business. I'm also an adjunct scholar of the Cato Institute. I'm not really grumpy by the way! Any opinions I express are mine alone and do not represent the position of the Hoover Institution or Stanford University.
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