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economics knowledge

Marijuana use can lower educational outcome

Preparing myself for an upcoming lecture by Professor Deborah Cobb-Clark here at the Jahrestagung des Vereins für Socialpolitik 2014 (Association of German Economists) I came across an interesting paper. It is about the relationship between early marijuana use (at age 14 or younger) and young people’s educational outcomes. Key lesson: „Early marijuana use is associated […]

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political economy politics

Merkel to blame on establishing sound budgetary policies?

„Foreign countries are to blame!“ – That is how politicians tend to justify developments voters do not appreciate. From a politician point of view such a accusation is understandable in two ways: Those who are accused can’t vote (and so can’t harm the politician) and, secondly, the politician is absolving himself of responsibility. The problem with […]

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economics society

Principles of common goods

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economics

Example how wrong incentives impede progress

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society state

What is a free or liberal order?

A question that struck me during a just finished first session at the Juniorenkreis Publizistik at Bresinchen: What is a free or liberal order? Is it an order where people have as much freedom as possible or does it mean that people agree to rules in freedom?

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economics society state

„Taxation on performance“ vs.“taxation on interests“: What is fair?

In preparation of a meeting with Hayek-Followers the next weekend I am reading a paper (Markt und Staat in einer globalisierten Welt: Die ordnungsökonomische Perspektive) from Viktor J. Vanberg.

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world economy

How rich is Europe compared to all US states?

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quotes

A minimum wage is, in reality, a law that makes it illegal for an employer to hire a person with limited skills. Milton Friedman

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economics in the margins

How fair is fair trade?

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economics

Learn Behavioral Economics the easy way