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Good Reads

I decided not to do any serious blogging this weekend. Instead, I'll point you in the direction of some things I've read the past few weeks that I thought were interesting.

I'm a sucker for economics writing that includes data over a long time period. Here's a good article about unemployment and labor force participation that takes the long view. Historical data is useful, and so is awareness of changing social patterns.

I never wrote about the huge error in the US tax revenue forecast that will reduce this year's federal budget deficit by almost $100 billion. My interest in this subject would be in figuring out how large this error is compared to historical norms. I suspect this was a particularly large error, given this graph showing that the differences in tax revenues between 2004 and 2005 is the largest ever between consecutive years. Revenue is up about $200 billion over 2004.

Here's an eye-opening article on how the Indian government's energy policy created horrendous pollution and economic waste. I do have to nitpick one thing, though — the author doesn't say when his visit to India was, so I don't know if this was twenty years ago or last week.

Don Lloyd wrote an excellent article about the economics of drug development. "Contrary to popular belief, marketing expenses do not take away from R&D expenditures, and in fact they tend to add to them."

Here's a transcript of Donald Trump at the Senate International Security Subcommittee, predicting massive corruption during the remodeling of the United Nations building. His description of his discussion with the UN man in charge is priceless. The Q&A is also posted and I promise you'll roll your eyes at the end. (It looks like there's no permalink for the Q&A yet so I'm using the one on the main page, but it'll break in time. Someone needs to fix their software.) I have to heap praise on The Donald for making abundantly clear the incompetence and corruption of the United Nations. If they're this bad even regarding the building they work in, just imagine how horrible they are when the problems are remote!

Good job, Moscow police.

This example of bigotry makes me shake my head. People should know better. Where are the adults?

Oh, and here's a story about pirates. Yeah, real ones. Arrr!

Tiny Island