"Words ought to be a little wild, for they are the assault of thoughts on the unthinking" - JMK
- Gene Callahan discusses Aquinas on property rights: the Sabbath is made for man, not man for the Sabbath.
- David Glasner is blogging (HT Scott Sumner). He's a monetary economist.
- Rare earth metals, which are essential for manufacturing many electronics, have been found on the ocean floor. Many deposits are comparable to or richer than those currently mined in China. As the price of rare earths continue to go up, mining the ocean floor will become more viable. This is a map of what they found, and this is an article on rare earths published in National Geographic recently.
- And speaking of shortages in specific commodities, Fitch ratings has warned about specific labor shortages despite a generally slack labor market. This happened during the Great Depression as well - in fact the Great Depression was one of the first times you heard people worry about shortages of engineers. Fitch points to the oil and gas extraction industry as a major area of shortages. This is something that my NBER co-author and I have looked at as well. He is authoring another chapter in the engineering workforce volume specifically on recent developments for petroleum engineers (which I've helped him on) discussing the recent spike in petroleum engineer demand and what it's doing to wages and enrollment.
Nothing to see here, move along!
14 minutes ago