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Peter G. Klein
16.1K posts
Peter G. Klein
@petergklein
Professor at @Baylor_Business and @NHHnor, research fellow at @Mises, writing on organizations, entrepreneurship, strategy, and economics.
Joined March 2009
- Dr. Fauci discovers cost-benefit analysisDr. Fauci: "There is the danger that there will be so many people who are being isolated who are asymptomatic for the full ten days, that you could have a major negative impact on our ability to keep society running. So the decision was made of saying let's get that cut in half."
00:00 - Birthplace of the great economist Ludwig von Mises in Lviv, Ukraine (you can see a small plaque in the photo)
- Civil libertarians: a wholly unaccountable government agency records 100% of your electronic communications. Americans: *yawn* Media: a private firm, accountable to its board, shareholders, and customers, has been sharing some information you gave it. Americans: *meltdown*
- Imagine The Atlantic running a piece titled "Sometimes You Just Have to Ignore the Epidemiologists" or "Sometimes You Just Have to Ignore the Climate Scientists" theatlantic.com/ideas/archive/…
- "Because we scientists vastly exceed all other human beings in wisdom, honesty, integrity, selflessness, and humility. Especially humility."Today, the greatest threat of extinction we face is not asteroids or climate change or disease or famine. It’s society’s refusal to heed the warnings of scientists.
- Worker-owned cooperatives are not only permitted, but subsidized in most jurisdictions through favorable tax and regulatory treatment. That so few exist suggests that they perform poorly in most cases.Replying to @HistoryBoomerIt's good to see some reasonable people standing up to defend against the hypothethical abolishment of the system that has ruled our lives for centuries. What a horror it would be for workers to have conttol of their labor instead of billionaires. Must keep you up nights.
- Another famous psychology study, David Rosenhan's “On Being Sane in Insane Places,” appears to have been made up.
- One of the worst aspects of the war mentality is its collectivism. Lots of calls to punish "Russia" by banning Russian individuals or firms from participating in international trade, accessing the global financial system, studying in the US, even submitting to academic journals.
- Instead of cherry-picking our favorite anecdotes, we could look at the vast academic literature on state-owned enterprises, nationalization and privatization, and comparative economic organization. There is a clear consensus that SOEs underperform, but with important caveats. 1/Two best airlines in the entire world — Singapore and Emirates — are majority state-owned. We can have a sophisticated conversation about public vs private for various industries but we need to roll our eyes at Matt Taibbi comparing everything to the Soviet Union.
- Sad to report that Oliver Williamson passed away yesterday at age of 87. I'll have more to say in the coming days. He was a giant in economics and management and had a huge influence on my thinking and career. RIP.
- Funniest thing I've seen all week: "Economics to Sociology Phrasebook." economicsociology.org/2017/08/29/eco…
- This is a good example of why it's useful to understand some economics and statistics. The thread makes two basic errors. 1/
