What I read today

Dietrich Vollrath on William Baumol and his thesis of cost disease. Services are price inelastic or income elastic. People discussing cost disease do not focus on the demand side. It’s not a bug but a design feature of economic growth mechanism. Under Knightian Uncertainty, co-operation between agents increases for provisioning …

What I read today

Noah Smith on the urgent need to synthesize empirics and theory in Economics. Credentialism,┬áCareerism and Tribalism might be stronger than scientific honesty. Grognor has an interesting blog “Second Enumerations” where he has audio recorded essays which have influenced him in his life. Till now I have listened to Why Speculate …