ITEM ADDED 12/18/16
Manhattan Contrarian takes on the partisan analysis of economic growth offered by Alan Blinder and Mark Watson, and endorsed (predictably) by Paul Krugman. Eight years ago, I took on an earlier analysis along the same lines by Dani Rodrik, which Krugman (predictably) endorsed. In fact, bigger government, which is the growth mantra of economists like Blinder, Watson, Rodrik, and (predictably) Krugman, is anti-growth. The combination of spending, which robs the private sector of resources, and regulations, which rob the private sector of options and initiative, is killing economic growth. You can read about it here.
* * *
Is there a potential social problem that will have to be dealt with by government because it poses a severe threat to the nation’s political stability or economic well-being? Or is it just a step in the voluntary social evolution of the United States — perhaps even a beneficial one?
The best way to help the people … of Charles Murray’s Fishtown [of Coming Apart] — is to ignore the smart-educated-professional-affluent class. It’s a non-problem…. The best way to help the forgotten people of America is to unleash the latent economic power of the United States by removing the dead hand of government from the economy.
* * *
Anthropogenic global warming (AGW) is a zombie-like creature of pseudo-science. I’ve rung its death knell, as have many actual scientists. But it keeps coming back. Perhaps President Trump will drive a stake through its heart — or whatever is done to extinguish zombies. In the meantime, here’s more evidence that AGW is a pseudo-scientific hoax:
In conclusion, this synthesis of empirical data reveals that increases in the CO2 concentration has not caused temperature change over the past 38 years across the Tropics-Land area of the Globe. However, the rate of change in CO2 concentration may have been influenced to a statistically significant degree by the temperature level.
[B]ased on [Patrick[ Frank’s work, when considering the errors in clouds and CO2 levels only, the error bars around that prediction are ±15˚C. this does not mean—thankfully— that it could be 19˚ warmer in 2100. rather, it means the models are looking for a signal of a few degrees when they can’t differentiate within 15˚ in either direction; their internal errors and uncertainties are too large. this means that the models are unable to validate even the existence of a CO2 fingerprint because of their poor resolution, just as you wouldn’t claim to see DnA with a household magnifying glass.
[P]oliticians using global warming as a policy tool to solve a perceived problem is indeed a hoax. The energy needs of humanity are so large that Bjorn Lomborg has estimated that in the coming decades it is unlikely that more than about 20% of those needs can be met with renewable energy sources.
Whether you like it or not, we are stuck with fossil fuels as our primary energy source for decades to come. Deal with it. And to the extent that we eventually need more renewables, let the private sector figure it out. Energy companies are in the business of providing energy, and they really do not care where that energy comes from….
Scientists need to stop mischaracterizing global warming as settled science.
I like to say that global warming research isn’t rocket science — it is actually much more difficult. At best it is dodgy science, because there are so many uncertainties that you can get just about any answer you want out of climate models just by using those uncertianties as a tuning knob.
* * *
Well, that didn’t take long. lawprof Geoffrey Stone said something reasonable a few months ago. Now he’s back to his old, whiny, “liberal” self. Because the Senate failed to take up the nomination of Merrick Garland to fill Antonin Scalia’s seat on the Supreme Court — which is the Senate’s constitutional prerogative, Stone is characterizing the action (or lack of it) as a “constitutional coup d’etat” and claiming that the eventual Trump nominee will be an “illegitimate interloper.” Ed Whelan explains why Stone is wrong here, and adds a few cents worth here.
* * *
BHO stereotypes Muslims by asserting that
Trump’s proposal to bar immigration by Muslims would make Americans less safe. How? Because more Muslims would become radicalized and acts of terrorism would therefore become more prevalent. Why would there be more radicalized Muslims? Because the Islamic State (IS) would claim that America has declared war on Islam, and this would not only anger otherwise peaceful Muslims but draw them to IS. Therefore, there shouldn’t be any talk of barring immigration by Muslims, nor any action in that direction….
Because Obama is a semi-black leftist — and “therefore” not a racist — he can stereotype Muslims with impunity. To put it another way, Obama can speak the truth about Muslims without being accused of racism (though he’d never admit to the truth about blacks and violence).
It turns out, unsurprisingly, that there’s a lot of truth in stereotypes:
A stereotype is a preliminary insight. A stereotype can be true, the first step in noticing differences. For conceptual economy, stereotypes encapsulate the characteristics most people have noticed. Not all heuristics are false.
Here is a relevant paper from Denmark.
The high accuracy of aggregate stereotypes is confirmed. If anything, the stereotypes held by Danish people about immigrants underestimates those immigrants’ reliance on Danish benefits.
Here is a relevant paper from the United Kingdom.
Noah Carl. NET OPPOSITION TO IMMIGRANTS OF DIFFERENT NATIONALITIES CORRELATES STRONGLY WITH THEIR ARREST RATES IN THE UK. Open Quantitative Sociology and Political Science. 10th November, 2016….
Public beliefs about immigrants and immigration are widely regarded as erroneous. Yet popular stereotypes about the respective characteristics of different groups are generally found to be quite accurate. The present study has shown that, in the UK, net opposition to immigrants of different nationalities correlates strongly with the log of immigrant arrests rates and the log of their arrest rates for violent crime.
The immigrants in question, in both papers, are Muslims — for what it’s worth.
* * *
I explained the phoniness of the Keynesian multiplier here, derived a true (strongly negative) multiplier here, and added some thoughts about the multiplier here. Economist Scott Sumner draws on the Japanese experience to throw more cold water on Keynesianism.