If only there were an equilibrium presentation of price controls. Even better, with grocery ceilings as a leading example. Oh wait ... forthcoming in Public Choice.

The 404 page on the Financial Times is a work of genius

Outstanding essay on the worldwide plummeting birth rates and the coming demographic winter by J. Fernández-Villaverde. The 2023 fertility rates are astonishing, e.g: - South Korea: 0.72 - Colombia and Chile: 1.2 - Argentina and Brazil: 1.4 - Turkey: 1.51 spectator.co.uk/article/the-gl…

Opportunity and lower costs. Great headline, I offer suggestions. grumpy-economist.com/p/opportunity-…

Thanks! an update here "fiscal narratives." johnhcochrane.com/research-all/s…

Many such cases. HT Rothmus 🏴

Interview on inflation with David Lin youtube.com/watch?v=oOf-sj…

Profit margin is (revenue - cost) / cost. Return, comparable to dividends on other investments, is (revenue-cost)/capital stock. Cost is very large for a retailer like Walmart, much more than the value of the store.

Praise for Price Gouging grumpy-economist.com/p/praise-for-p…

Read the post. It deals with that argument.

"Sometimes you just have to ignore the fundamental laws of Physics" - Wile E Coyote

Unjust new climate world: In California, 12 million households without solar now pay the 1.5 million with solar $8.5 billion Each poorer household subsidizes rich solar owners with $700! Each rich solar household gets $5,600+ publicadvocates.cpuc.ca.gov/press-room/rep… reuters.com/sustainability…

.Jay Bhattacharya: For the first time in history, the NEJM suggested which presidential candidate they liked. nature, Scientific American—all endorsed a presidential candidate... The idea that public health is for Democrats but not for Republicans is the death of public health.

Thanks for the nice words. Don't miss the extras and introductory essays at johnhcochrane.com/research-all/t…

Back to sleep. Pointer to a great blog post series that reviews evidence on how babies should sleep. grumpy-economist.com/p/back-to-sleep

There is more than one tool to make more affordable housing. Manufactured housing made up 1/3 of single family homes before 1974. Then, Congress imposed that they have to be permanently attached to a rolling trailer, which made them almost disappear.

In Iran, knocking off the turbans of Islamic regime clerics has become a national sport!

Great essay by Abigail Shrier at the Free Press, on how the regulatory state coerces censorship: thefp.com/p/abigail-shri…

Apropos of nothing, periodic reminder that ChatGPT won’t repeat the words of Churchill’s most famous war speech (“We shall fight”) due to violation of its terms, but it will repeat the words of Hitler’s most famous warmongering speech and Hitler’s most famous antisemitic speech