Tyler Cowen makes the case that a large, inefficient public sector can be a good thing: we should not be trying to squeeze the entire economy into the shoebox of the dynamic but risky “Economy I.” For public choice reasons, as well understood by Karl Polanyi (an underrated public choice theorist if there ever was [...]
Archive for the ‘IPE’ Category
Saturday Afternoon Bemusement
Posted in capitalism, Education, IPE, tagged Big government, globalization, higher education, risk, Tyler Cowen on April 14, 2012 | 2 Comments »
More Evidence for Greek Default
Posted in IPE, tagged default, greece on June 20, 2011 | 2 Comments »
The Economist has a chart up today comparing growth rates pre- and post-default in recent years. Interestingly, countries have typically grown faster after default than before. There are reasons to be skeptical of a causal relationship, but it still shows that default is no disaster. Scholarly work by John Ahlquist also has shown that default [...]
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