Professor of Economics | Political Economy - Public Choice - History of Economic Thought - Austrian Economics
Joined August 2014
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- Following 1,451
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837 Photos and videos
Daniel J. Smith retweeted
The case for the California billionaire tax is built on an edifice of statistical manipulations and falsehoods.
Receipts below. wsj.com/opinion/the-deceptiv…
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Jun 14
Another example of the othering of neoliberal scholars from @tonyannett :
“Rather than judging neoliberal scholars on their own terms, non-neoliberals often assumethat those holding neoliberal positions are intellectually inferior, bought off by capitalist donors, racist, or tyrannical. This is part of a well established program of “othering” neoliberal scholars. This othering serves as a normative and negative rhetorical device that obviates the need for non-neoliberals to even engage in debate with neoliberals.”
papers.ssrn.com/sol3/papers.…
Jun 14
Libertarianism is an evil philosophy.
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Jun 14
“one-time redistributions are two orders of magnitude smaller in helping the poor than the 2,900 percent Enrichment from greater productivity since 1800.”
deirdremccloskey.org/docs/pd…
Jun 14
There are about 700 million people still living in extreme poverty, on less than $2.15 a day.
Let’s do an experiment. Give the bottom billion $1000. That won’t make them rich, but it would overcome the worst forms of deprivation.
The cost would be $1 trillion a year. That’s less than 1% of global GDP. But we choose not to do this.
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Jun 14
Economic history examples of the importance of capital for labor (Walton and Rockoff):
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Daniel J. Smith retweeted
Jun 13
New research from Claudia Williamson Kramer shows … People who prioritize free speech tend to be more accepting of marginalized groups via @psypost psypost.org/people-who-prior…
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Daniel J. Smith retweeted
Jun 12
In my latest for the WSJ, I document how the California Billionaire Tax proposition is built on a bed of statistical lies and data manipulation by Gabriel Zucman and Emmanuel Saez, the two economists who helped design the proposal.
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Jun 12
NYT on the disincentive effects of state income taxes, albeit in the Athletic on NHL players:
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Jun 12
This probably just reflects my own ignorance, but for some reason I never realized that Paul Samuelson and Vernon Smith had the same dissertation advisor.
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Daniel J. Smith retweeted
This is a important thread for anyone interested in the current state of universities. It suggests the Mellon Foundation and AAUP are fighting civics centers. AAUP and Mellon support viewpoint homogeneity rather than diversity. This doesn't build trust in universities.
Jun 11
NEW: The Mellon Foundation gave $1.5 million to establish a "center for the defense of academic freedom."
In audio I've obtained, the group's leader says his goal is to undermine the newly launched classical civics centers: "map who these f---ers are... and knock them out." 🧵
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Jun 12
In 1950, John Flynn articulated what he saw as the "Socialist Program for America":
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Jun 12
In 1950, Sumner Slichter, the Lamont University Professor at Harvard, dismissed John Flynn's The Road Ahead in the New York Times, arguing that "There is no widespread popular demand that the Government own and operate industries," primarily due to its poor track record in doing so.
Advocating instead for a planned economy where "activities are guided by a large and consistent body of economic policies" Slichter, however, did see 3 dangers:
1) "The first danger is that it will become a Santa Claus economy-one in which the Government makes large handouts under the cover of meeting needs, but for the real purpose of buying votes."
2) "A SECOND danger is that the Government will attempt to change the distribution of income without giving much attention to how its methods affect the total volume of production."
3) "The third danger that confronts the mixed economy is that the Government will spend too much money."
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Daniel J. Smith retweeted
Jun 11
The new OMB grant rules are being sold as anti-DEI reform. They are much worse: a government-wide machinery for political control of science.
Every award must advance “the President’s policy priorities.” Peer review becomes advisory. Grants can be killed on political whim.
The nationalization of American science. marginalrevolution.com/margi…
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Jun 11
Herman Finer on fascism and misdirection and distortion in The Daily Maroon (1935) when Herman Finer was a visiting professor at the University of Chicago:
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