Joe Biden

GBP/JPY – Breakout near?

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Avoiding Biases: Lessons from Michael Huemer

The featured image of this post is a photograph I took two weeks ago less than a mile from my home in Maine. It is only illustrative but, I think, powerfully illustrative. In evaluating the truth, objectivity requires one to check one’s own biases. It […]

Using the Hypothetical Monopolist Test to Define the Relevant Market for Ad Tech

Policymakers’ recent focus on how Big Tech should be treated under antitrust law has been accompanied by claims that companies like Facebook and Google hold dominant positions in various “markets.” Notwithstanding the tendency to conflate whether a firm is large with whether it hold a […]

Breaking News: Unrealized Capital Gains are Not Taxed

University of Michigan economist Justin Wolfers tweets: Stunning new estimates suggest that the 400 wealthiest American families paid an average Federal tax rate of only 8.2%. Wow, I thought. That is stunning. It’s true that a large percent of Americans have a zero average federal […]

Sterling higher after BoE

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Angry Bears

In a comment replying to MikeP about my post “Preach What You Practice,” September 20, 2021, I made the point that acting rationally often involves going along with something that doesn’t make sense because the penalties are substantial. I wrote: Something that helps me deal […]

The OCTOPEST Oracle

Can corporate America, and Big Tech in particular, be democratized? How can we make capitalism more accountable to the people? In this episode, EconTalk host Russ Roberts welcomes back the OCTOPEST of Microsoft, Glen Weyl. Says Roberts, “I love capitalism. Because capitalism, profit, and loss, […]

Investors relaxed after frantic start to the week

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