tag:blogger.com,1999:blog-1110014885778996459.post5523417302370668259..comments2024-03-28T04:16:11.729-07:00Comments on Idiosyncratic Whisk: The Lemon Problem as Social PolicyKevin Erdmannhttp://www.blogger.com/profile/07431566729667544886noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1110014885778996459.post-61515854592507330322016-01-14T17:58:43.246-07:002016-01-14T17:58:43.246-07:00Mark--
Agreed---wherever possible, increase potent...Mark--<br />Agreed---wherever possible, increase potential competition.<br /><br />Ground-floor retail values would sink...<br /><br />The legal profession is just awful....Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-30823677589595754482016-01-14T02:26:49.543-07:002016-01-14T02:26:49.543-07:00That's an interesting way to reduce barriers t...That's an interesting way to reduce barriers to entry. Makes me think of the character of Bubbles from The Wire. Anyway, it would be interesting to see how restaurant prices in cities with more lax regulation on street vending or food trucks compare to those with stricter regulation. <br /><br />I would argue that there are a whole host of industries where similar sort of impediments build be removed to drive down prices. Why not let people offer haircuts on a street corner (or in their homes, perhaps)? There are a lot of markets to which you could apply the logic of Uber were it not for things like licensing requirements.<br /><br />Of course, to open up those markets you have to get rid of regulations that protect big businesses' monopolies/oligopolies and (in the very short run) their employees, and on this matter, the so-called money illusion is a big issue. It doesn't seem to compute with most people that a 50% decline in real prices is the same as a 100% increase in real income. This I think is why so many voters are more willing to support policies that see wages go up but prices go up more than policies that see wages go down but prices go down even more.Anonymoushttps://www.blogger.com/profile/07928458476301534836noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-43999063579256634782016-01-13T20:13:27.216-07:002016-01-13T20:13:27.216-07:00Yes we are. The Fed should be buying dirt now. But...Yes we are. The Fed should be buying dirt now. But it is still against the law for our Fed to buy non financial assets, right? Ordinarily I would find doing so to be repulsive, but we are falling off a cliff here, and others have warned of that.Gary Andersonhttp://www.talkmarkets.com/content/us-markets/nominal-gdp-targeting-and-market-monetarism-made-easy-with-graphs?post=82536&uid=4798noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-11316791835389680732016-01-13T18:47:03.564-07:002016-01-13T18:47:03.564-07:00Thoughtful blogging.
Build more housing! Print mo...Thoughtful blogging.<br /><br />Build more housing! Print more money!<br /><br />And my pet idea: decriminalize push-cart vending.<br /><br />At first, push-cart vending might seem like a small issue. But think about it. Every city restricts retail sales to a fixed amount to physical space. Retail space becomes expensive.<br /><br />Additionally, I do not support the minimum wage. But, if a typical worker could say "take it this job and shove it" and start his own soup kitchen on wheels, I might feel better about my position.<br /><br />I would also feel better about "no minimum wage" if it was not the explicit policy of the central bank to "fight inflation" by keeping unemployment above 1 in 20 workers, except when even higher rates of unemployment are sought.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-54673054748028089982016-01-13T17:41:11.875-07:002016-01-13T17:41:11.875-07:00Nothing that I have saved. Lining up for a real p...Nothing that I have saved. Lining up for a real problem, aren't we?Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-39245375601845103802016-01-13T16:40:22.287-07:002016-01-13T16:40:22.287-07:00TravisV here.
Off-topic, is there a good article ...TravisV here.<br /><br />Off-topic, is there a good article out there detailing the exit of dovish FOMC voting members and entrance of hawkish FOMC voting members at the end of 2015 / beginning of 2016?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-38031678482237059662016-01-13T11:33:35.207-07:002016-01-13T11:33:35.207-07:00As long as you think that capital is good, you can...As long as you think that capital is good, you can model anything you want, Kevin. But capital is not good, and so unions were formed. Now capital has broken unions and we see backbone companies like Disney paying 9 dollars an hour for home jobs that offer no benefits. How much do ya think labor will contribute to GDP when jobs like that are starting to abound? Capital, like Disney, is greedy, and doesn't fit the model. Capital pays what desperate workers seek to make to keep from living on the street. <br /><br />This is why I don't endorse MMers, because they are right about some things, but come from places where the invisible hand of self interest is held in high regard. But I gave you all kudos here: www.talkmarkets.com/content/us-markets/nominal-gdp-targeting-and-market-monetarism-made-easy-with-graphs?post=82536&uid=4798Gary Andersonhttp://www.talkmarkets.com/content/us-markets/nominal-gdp-targeting-and-market-monetarism-made-easy-with-graphs?post=82536&uid=4798noreply@blogger.com