"Words ought to be a little wild, for they are the assault of thoughts on the unthinking" - JMK
- A new blog on the economics of the digital age (HT Brad DeLong). One of the bloggers there has written about skills biased technological change in the past - I've cited him for my engineering chapter.
- WSJ on technological unemployment. As a short-run phenomenon, I think this should be taken more seriously than it is. As a long run phenomenon I think it's reasonable to dismiss it as a problem.
- Since Arnold Kling probably likes that last bullet point, I have to offer one he won't like. I agree completely with Karl Smith. There is a macroeconomy, aggregates are useful, and we can think scientifically about aggregates without deriving it up from the individual.
- Keynes vs. Smith on wine. I am a Smithian in the sense that I appreciate the distinctiveness of Virginia wine, but I'm not sure that appreciation quite amounts to terroir. In that sense perhaps I edge closer to Keynes.
- Bob Murphy raises some good questions for Steve Landsburg. I agree with a lot of it in the comments. The allocation of costs in Landsburg's post seems very selective.
I got more than four hours of sleep last night and my midterm and presentations are behind me, which is a lot more than I can say for the previous three nights. So I'm feeling great! Have a good Thursday everyone.
Comparative advantage: a partial truth
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