@JeremyCom Ironic tragedy. Was it due to functional divisions (environment vs. fire protection) working at cross purposes, without effective oversight?
@BrandonWarmke What about markets as a regulatory mechanism: reducing subsidies; vouchers to bring stronger market forces on education; getting rid of tenure.
@TheProfitPup@KobeissiLetter WOW. I know this is nitpicky, but why not compare median home to median income? They are probably not far off, but statisticians are suspicious every data point.
@lugaricano agree: loved the interview, but more sanguine about progress/usefulness of economics. In antitrust, huge progress in how mergers are analyzed, from correlations between price and concentration, to richer, more realistic game theoretic models of how mergers affect price.
@Jon_Hartley_@capandfreedom@UChicago Fabulous. I got to experience a tiny bit of Chicago econ as a fellow (Rubinstein's theory, empirical micro, and law and econ), before Levitt . Liked the idea that you get ten minutes to present your work and then forced to answer questions for the duration.
'Antitrust Policy, The Chicago School Consumer Welfare Standard and The Rise of the New Brandeisians' by The Capitalism and Freedom in the Twenty-First Century Podcast https://t.co/8SVMzcDePA
@conlon_chris@davidamichaels@WSJ It reminds me of apocryphal story of why Prof Richard Posner left antitrust: "if they priced too high, they said it was monpolization; if they priced too low, pedation; and if they priced the same, collusion.