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on sugary drinks, taxes and demand curves https://notesonliberty.com/2017/01/23/on-sugary-drinks-taxes-and-demand-curves/
https://notesonliberty.com/2017/01/23/on-sugary-drinks-taxes-and-demand-curves/
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uc berkeley https://notesonliberty.com/tag/uc-berkeley/
jayson lusk http://jaysonlusk.com/blog/2016/10/26/new-research-on-the-berkeley-soda-tax?rq=berkeley%20tax
the authors of the study point out that when tax is passed http://escholarship.org/uc/item/0q18s7b7#page-1
lusk himself found something similar in a case related to animal welfare https://www.degruyter.com/view/j/jafio.2010.8.1/jafio.2010.8.1.1296/jafio.2010.8.1.1296.xml
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1 comment https://notesonliberty.com/2017/01/23/on-sugary-drinks-taxes-and-demand-curves/#comments
anarchism https://notesonliberty.com/2017/01/23/anarchism/
https://notesonliberty.com/2017/01/23/anarchism/
jacques delacroix https://notesonliberty.com/author/delacroixjacques/
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here https://www.amazon.com/used-be-french-immature-autobiography-ebook/dp/b00jy0g3sa/
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on tax resistance, censuses and the cliometrician’s craft https://notesonliberty.com/2017/01/22/on-tax-resistance-censuses-and-the-cliometricians-craft/
https://notesonliberty.com/2017/01/22/on-tax-resistance-censuses-and-the-cliometricians-craft/
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2 comments https://notesonliberty.com/2017/01/22/on-tax-resistance-censuses-and-the-cliometricians-craft/#comments
trump is right! https://notesonliberty.com/2017/01/21/trump-is-right/
https://notesonliberty.com/2017/01/21/trump-is-right/
edwin van de haar https://notesonliberty.com/author/edwinvdhaar/
current events https://notesonliberty.com/category/current-events/
politics https://notesonliberty.com/category/politics/
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military intervention https://notesonliberty.com/tag/military-intervention/
nato https://notesonliberty.com/tag/nato/
especially in nato https://notesonliberty.com/2014/05/11/useful-neoconservative-insights/
plainly immoral https://notesonliberty.com/2016/11/29/the-ugliness-of-international-politics/
not a great fan of military intervention https://notesonliberty.com/2014/09/14/a-few-remarks-on-interventions-in-syria-and-iraq/
do not want to rule them out them perennially https://notesonliberty.com/2014/06/22/a-few-further-remarks-on-foreign-policy-and-libertarianism/
the liberal tradition http://www.amazon.com/degrees-freedom-political-philosophy-ideology/dp/1412855756/ref=sr_1_3?s=books&ie=utf8&qid=1416155724&sr=1-3&keywords=edwin+van+de+haar&pebp=1416155730498
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trump’s inauguration: ageing pains https://notesonliberty.com/2017/01/20/trumps-inauguration-ageing-pains/
https://notesonliberty.com/2017/01/20/trumps-inauguration-ageing-pains/
nick cowen https://notesonliberty.com/author/nickcowenucl/
liberty https://notesonliberty.com/category/liberty/
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- https://notesonliberty.files.wordpress.com/2017/01/fa87a4aa3343c8063a073e8f11be03b29c8f12e7e1973f5b4f6808bf4e0760fd.jpeg
relative age of us presidents https://notesonliberty.com/2017/01/20/is-trump-so-old-its-all-relative-really/
generalised nationalist http://www.themoneyillusion.com/?p=32150
austrian presidency http://www.dw.com/en/austrias-green-backed-van-der-bellen-wins-presidential-election/a-36635159
trade liberalisation https://www.bloomberg.com/view/articles/2017-01-19/don-t-blame-davos-man-for-globalization-s-limits
politically reactionary https://noahpinionblog.blogspot.co.uk/2014/02/japanww2.html
economically disadvantaged http://www.theglobeandmail.com/news/world/us-politics/the-average-trump-supporter-is-not-an-economic-loser/article32746323/
support for brexit http://www.newstatesman.com/politics/staggers/2016/06/how-did-different-demographic-groups-vote-eu-referendum
sustained drop in real interest rates http://www.frbsf.org/economic-research/files/wp2016-05.pdf
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3 comments https://notesonliberty.com/2017/01/20/trumps-inauguration-ageing-pains/#comments
is trump so old? its all relative really! https://notesonliberty.com/2017/01/20/is-trump-so-old-its-all-relative-really/
https://notesonliberty.com/2017/01/20/is-trump-so-old-its-all-relative-really/
vincent geloso https://notesonliberty.com/author/vincentgeloso/
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health https://notesonliberty.com/tag/health/
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ee this great book on the economic history of aging) https://www.amazon.com/aging-past-demography-society-studies/dp/0520084667/ref=sr_1_1?ie=utf8&qid=1484867677&sr=8-1&keywords=aging+in+the+past
i took the cdc data on life expectancy https://www.cdc.gov/nchs/data/hus/hus15.pdf#015
 from 1900 to today http://u.demog.berkeley.edu/~andrew/1918/figure2.html
1790 to 1900 which can be found in this article of historical methods.  http://www.tandfonline.com/doi/abs/10.1080/01615441003720449
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1 comment https://notesonliberty.com/2017/01/20/is-trump-so-old-its-all-relative-really/#comments
on the (big) conditions for a big https://notesonliberty.com/2017/01/19/on-the-big-conditions-for-a-big/
https://notesonliberty.com/2017/01/19/on-the-big-conditions-for-a-big/
vincent geloso https://notesonliberty.com/author/vincentgeloso/
economics https://notesonliberty.com/category/economics/
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minimum income https://notesonliberty.com/tag/minimum-income/
phil magness https://notesonliberty.com/tag/phil-magness/
russ roberts https://notesonliberty.com/tag/russ-roberts/
universal income https://notesonliberty.com/tag/universal-income/
this week, econtalk featured a podcast between russ roberts and michael munger http://www.econtalk.org/archives/2017/01/michael_munger_3.html
here in the past https://notesonliberty.com/2016/01/13/basic-income-a-debate-where-demand-magically-disappears/
as i pointed out back then, the canadian experiment (in manitoba) with a minimum income led to substantial improvements in health outcomes which meant lower expenditures for healthcare http://www.utpjournals.press/doi/abs/10.3138/cpp.37.3.283
kevin vallier http://bleedingheartlibertarians.com/2016/07/the-ubi-in-non-ideal-theory-and-ideal-theory/
phil http://philmagness.com/?p=1768
magness http://philmagness.com/?p=1787
jason clemens over at the fraser institute pointed to a study they made regarding the implementation of a big in canada. the practical challenges the study points too build upon the magness argument as applied in a canadian perspective.  https://www.fraserinstitute.org/studies/idea-guaranteed-annual-income-appealing-implausible-canada
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older posts https://notesonliberty.com/page/2/
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the pox of liberty – dixit the political economy of public health | notes on liberty | shawn eng's stream of wonk https://shawneng.wordpress.com/2017/01/24/the-pox-of-liberty-dixit-the-political-economy-of-public-health-notes-on-liberty/
the pox of liberty – dixit the political economy of public health https://notesonliberty.com/2017/01/19/the-pox-of-liberty-dixit-the-political-economy-of-public-health/#comment-42714
johnbarleycorn12 http://bertpowers.wordpress.com
on sugary drinks, taxes and demand curves https://notesonliberty.com/2017/01/23/on-sugary-drinks-taxes-and-demand-curves/#comment-42710
johnbarleycorn12 http://bertpowers.wordpress.com
on tax resistance, censuses and the cliometrician’s craft https://notesonliberty.com/2017/01/22/on-tax-resistance-censuses-and-the-cliometricians-craft/#comment-42707
trump’s inauguration: ageing pains https://notesonliberty.com/2017/01/20/trumps-inauguration-ageing-pains/#comment-42706
trump’s inauguration: ageing pains https://notesonliberty.com/2017/01/20/trumps-inauguration-ageing-pains/#comment-42704
on tax resistance, censuses and the cliometrician’s craft https://notesonliberty.com/2017/01/22/on-tax-resistance-censuses-and-the-cliometricians-craft/#comment-42703
jim rose http://utopiayouarestandinginit.wordpress.com
has canada been poorer than the us for so long? https://notesonliberty.com/2016/12/16/has-canada-been-poorer-than-the-us-for-so-long/#comment-42702
trump’s inauguration: ageing pains https://notesonliberty.com/2017/01/20/trumps-inauguration-ageing-pains/#comment-42699
some thursday afternoon love https://notesonliberty.com/2016/11/03/some-thursday-afternoon-love/#comment-42697
levi russell http://www.farmerhayek.com
some thursday afternoon love https://notesonliberty.com/2016/11/03/some-thursday-afternoon-love/#comment-42696
trump is right! | notes on liberty https://notesonliberty.com/2017/01/21/trump-is-right/
useful neoconservative insights https://notesonliberty.com/2014/05/11/useful-neoconservative-insights/#comment-42692
muskegonlibertarian http://muskegonlibertarian.wordpress.com
on the (big) conditions for a big https://notesonliberty.com/2017/01/19/on-the-big-conditions-for-a-big/#comment-42683
johnbarleycorn12 http://bertpowers.wordpress.com
is trump so old? its all relative really! https://notesonliberty.com/2017/01/20/is-trump-so-old-its-all-relative-really/#comment-42682
on the (big) conditions for a big https://notesonliberty.com/2017/01/19/on-the-big-conditions-for-a-big/#comment-42680
muskegonlibertarian http://muskegonlibertarian.wordpress.com
on the (big) conditions for a big https://notesonliberty.com/2017/01/19/on-the-big-conditions-for-a-big/#comment-42676
- rethinking canadian economic growth and development since 1900: the quebec case (2017) https://www.palgrave.com/us/book/9783319499499
- degrees of freedom: liberal political philosophy and ideology (2015) http://www.amazon.com/degrees-freedom-political-philosophy-ideology/dp/1412855756/ref=sr_1_3?s=books&ie=utf8&qid=1416155724&sr=1-3&keywords=edwin+van+de+haar&pebp=1416155730498
- kierkegaard on politics (2014) http://www.amazon.com/kierkegaard-politics-palgrave-pivot-stocker/dp/1137372311/ref=sr_1_5?s=books&ie=utf8&qid=1402535279&sr=1-5
- nietzsche as political philosopher (2014) http://www.amazon.com/nietzsche-political-philosopher-today/dp/3110359367/ref=sr_1_1?s=books&ie=utf8&qid=1402535279&sr=1-1
- rousseau on language and writing: two perspectives (2014) http://www.amazon.com/rousseau-language-writing-barry-stocker-ebook/dp/b00k1b54iq
- i used to be french: an immature autobiography (2014) http://www.amazon.com/dp/b00jy0g3sa
- les pumas de grande banlieue: histoires d'émigration (2014) http://www.amazon.com/dp/b00ni2pcgo
- du grand rattrapage au déclin tranquille: une histoire économique et sociale du québec de 1900 à nos jours (2013) http://www.amazon.ca/grand-rattrapage-d%c3%a9clin-tranquille-%c3%a9conomique/dp/2924151120/ref=sr_1_1?ie=utf8&qid=1365519772&sr=8-1&keywords=vincent+geloso
- emancipating slaves, enslaving free men: a history of the american civil war (2013) http://www.amazon.com/emancipating-slaves-enslaving-free-men/dp/0812698436/ref=sr_1_2?ie=utf8&qid=1396239592&sr=8-2&keywords=emancipating+slaves+enslaving+free+men
- bemind maar onbekend: de politieke filosofie van het liberalisme (2011) http://www.uitgeverijaspekt.nl/boekdetail.php?id=9789461530141
- red shambhala: magic, prophecy, and geopolitics in the heart of asia (2011) http://www.amazon.com/red-shambhala-magic-prophecy-geopolitics/dp/0835608913/ref=sr_1_2?s=books&ie=utf8&qid=1403123238&sr=1-2&keywords=andrei+znamenski
on sugary drinks, taxes and demand curves https://notesonliberty.com/2017/01/23/on-sugary-drinks-taxes-and-demand-curves/
the pox of liberty - dixit the political economy of public health https://notesonliberty.com/2017/01/19/the-pox-of-liberty-dixit-the-political-economy-of-public-health/
the libertarian case for immigration restriction https://notesonliberty.com/2016/08/29/the-libertarian-case-for-immigration-restriction/
has canada been poorer than the us for so long? https://notesonliberty.com/2016/12/16/has-canada-been-poorer-than-the-us-for-so-long/
ten best papers/books in economic history of the last decades (part 1) https://notesonliberty.com/2017/01/09/ten-best-papers-in-economic-history-of-the-last-decades-part-1/
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skip to content notes on liberty spontaneous thoughts on a humble creed menu homeabout the consortiumabout the notewritersbrandon christensenlode cossaernick cowenjacques delacroixlucas g. freirevincent gelosoedwin van de haarjeffrey rogers hummelmark koyamamichelango landgravechhay lin limadrián lucardiamit ranjanwilliam reinbruno gonçalves rosieliana santanatogliabarry stockermatthew strebefederico sosa-vallerick weberzachary woodmanandrei znamenskiguest notewritersrecommendations on sugary drinks, taxes and demand curves 01/23/201701/23/2017 vincent geloso economics, liberty consumption, jayson lusk, obesity, soda tax, supply and demand, uc berkeley a few days ago, i discovered a blog post on the website of jayson lusk (a very good agricultural economist whose work has often guided some of my own economic history research given that most economic history is also agricultural history). the post relates to a study of the implementation of a sugary drink tax in berkeley to fight obesity. obviously, a tax will reduce the consumption of any good. that is pretty axiomatic and all that we need to know is how much. in other words, how elastic is demand. if all things are held constant, the quantity consumed relative to the price change will give you that measure.* however, the study that lusk pointed too basically shows that we often do not hold everything constant. the authors of the study point out that when tax is passed, there is generally a debate that occurs beforehand. this generates publicity about the issue. this alters the behavior of consumers because they face more information. this is an effect that must be isolated from that of the tax itself.  that is what the authors do in their papers and they find that a reduction of soft drinks consumption did occur during the campaign and after the tax was adopted but before it was implemented (they rely on on-campus sales of soft drinks at a “major university” which we can assume is uc-berkeley). thus, the reduction in consumption preceded the price change. lusk himself found something similar in a case related to animal welfare. using a californian electoral proposition regarding animal welfare in the production of eggs, he found that the publicity surrounding the proposition changed consumer behavior. lusk, rightly in my opinion, points out this suggests that information-based policies are probably more efficient than heavy-handed measures like taxes. but i think there is a deeper point to make. when you inform consumers, you don’t only change the location of the demand, you also change the slope of the curve. if a consumer is made aware of the costs (and benefits) of his consumption that he had not previously considered, he may become more sensitive to the price. informing people about the ill-effects of sweet drinks might make them more sensitive to the price they pay. imagine that the information campaign during the berkeley vote on the tax caused consumption to become more elastic. that means that the tax’s effects is being amplified by the information effect from the publicity. had the tax been imposed as a surprise, the effect would have been smaller. basically, lusk’s presentation of the argument is understating the effects of information-based policies. * on a tangential point, i would like to remind that people can reduce their consumption of soft drinks without changing their total calorific intake. indeed, if i am taxed when i consume a soft drink, i can switch to coffee with cream. thus, pundits often confuse a reduction in soft drinks consumption after a tax as a step in favor of reducing obesity. share this:tweetemailshare on tumblrpocketlike this:like loading... 1 comment anarchism 01/23/201712/27/2016 jacques delacroix sociology anarchism, childhood, hierarchy below is an excerpt from my book i used to be french: an immature autobiography. you can buy it on amazon here. i had my first revolutionary encounter at another cub scout camp near a different lake. we were organized in squads of six, as i said, each with its appointed leader. one day, my squad leader gave me an order i did not like. or maybe, i just did not like his tone. i said “no.” he insisted. our voices rose. his authority contested publicly, he shoved me lightly. i shoved back and i called him out formally. we repaired out of sight to the lakeside. it was not the clash of the titans because i must have been nine and he, eleven. the leader must have lacked faith in his own charisma, or else, i got lucky because i gave him a bloody nose. this stopped the fight in accordance with the ancient dueling rule of “first blood drawn.” he washed off the blood in the lake. we walked back to our tent separately. it was sunset; everyone went to bed. nothing more was said. i remember the fight clearly and i remember well that the squad leader was the furthest thing from a bully. he was not a bad guy and i did not even dislike him. i just did not like hierarchies. i was a natural anarchist in the true, etymological sense of the term: i did not want to have a chief, or a leader, or whatever you call them these days. this trait never changed. i am just the same as i was at nine in this respect. i have never had any desire to exercise power over others either. most exercises of power repel me viscerally. i suspect many or most are unnecessary. moreover, i now think coercion is the worst way to obtain the orderliness that is necessary to a good society. i am pretty sure coercion causes more disorder overall than it eliminates or avoids. its costs are usually too high. “growing up” did not help me in that department either. i never “learned through experience;” life did not “beat it into me.” in this respect, as in many others, i keep marveling at the constancy of individual characters from childhood, perhaps from infancy. i don’t know why there isn’t more mention of this constancy except that it contradicts the namby-pamby liberal faith in environmental determinism. if you believe religiously that societal influences – such as poverty, emotional abuse, being deprived of cookies, being fed the cookies of the wrong color – decide what the adult’s character will be, it’s hard to notice that much of the character was already in the child, or even in the toddler. it’s difficult to even imagine that it was possibly already in the zygote. this possibility was an academic taboo subject for the best part of forty years. hardly anyone felt free to study it. share this:tweetemailshare on tumblrpocketlike this:like loading... leave a comment on tax resistance, censuses and the cliometrician’s craft 01/22/2017 vincent geloso history canada, canadian history, economic history in the process of finalizing another research article (under revise and resubmit for agricultural history), i found a small case of tax resistance in canada east (modern day quebec) in 1851  that is interesting. the district of grenville, northwest of montreal, was an ethnically mixed district (25% french, the rest were english-canadians) operating under the british freehold tenure system (as opposed to most of the rest of the province that operated under french seigneurial tenure). during the 1851 census, the enumerator complained that the population of roughly 2,000 inhabitants refused to report statistical information. basically, the enumerator pointed out that the majority supposed the information they were giving was “the precursor of a general tax for schools which they are strongly opposed to”. i find this to be interesting because it is a nice little case of how hard to master the craft of an economic historian. as a cliometrician, my task is to find the best data possible to answer historical questions with strong economic theory (while enriching theory with historical evidence). the data for that area would be biased downwards as peasants would understate their incomes to avoid being heavily taxed. any statistical test to assert the applicability of a theory to historical questions of canada (or quebec) would be altered by this reaction on the part of peasants. true, for some broad questions (like measuring gdp), this would not be too dramatic an issue. however, for more specific questions like “what was the role of tenure systems in explaining quebec’s relative poverty”, the issue would be more problematic. how much do the little things matter, right? share this:tweetemailshare on tumblrpocketlike this:like loading... 2 comments trump is right! 01/21/201701/21/2017 edwin van de haar current events, politics alliances, donald trump, institutions, military intervention, nato it is easy to emphasize all that is bad about the new american president. for sure, i think he is a clown who will do a few bad things to the us and the world at large. his protectionist agenda is of course a libertarian nightmare, which will also make the people who elected him worse off. still, the us president is not a dictator, so some trust in the institutions and the actors that fill them still seems appropriate. trump is also plainly right on a number of issues. foremost, his plea (also in yesterday’s inaugural address) for the partners of the usa, especially in nato, to contribute in equal measure. this is not new, all recent american presidents have pointed this out to their european allies. it is simply outrageous to let mrs jones from north dakota pay for the defense of other rich countries, such as my home country of the netherlands. the europeans got away with major free riding. only recently did they start to get their act a little bit together, as the russian threat is looming again. the defense budgets in almost all european nato members have decreased drastically since the early nineties, which is plainly immoral if you are in the world’s most important security organization together. so hopefully trump will pressure them to the max. he is also right in pointing out that many us foreign interventions have been a disaster. and it is good that he wants some closer scrutiny from now onwards. i am not a great fan of military intervention, although i also do not want to rule them out them perennially (as opposed to many others in the liberal tradition). many of the interventions over the past few decades have lead to nothing though, and created their own follow-up problems. so it’s pretty good if that same mrs jones is not likely to lose her son or daughter at the battlefield in some faraway country. and of course trump is right in asserting that the government is not ruling the citizens, but is just a service provider on behalf of the people, and fully accountable to them. sure this is bit more complicated in practise, but it is the only proper principle. so in these three respects: hail to the new chief! hopefully he sticks to them and does not screw up too dramatically at all other policy fields. share this:tweetemailshare on tumblrpocketlike this:like loading... leave a comment trump’s inauguration: ageing pains 01/20/201701/20/2017 nick cowen liberty ageing, brexit, demography, donald trump, interest rates, italy, japan, polls vincent has discussed the relative age of us presidents. there is something to be said about the age of electorates. i was living in the united kingdom when we voted for brexit (i was a soft remainer). i was living in the united states when trump won the election. so i can’t help but feel that trump’s inauguration is part of a generalised nationalist turn that, ironically, transcends national borders. why is this nationalist turn happening? and why has it wrong-footed pollsters and political scientists more than once now? we are repeatedly, and correctly, warned not to over-interpret individual events as somehow determined by given factors. both the brexit vote and the presidential election were close, with trump taking the electoral college without the popular vote. one domino that didn’t fall last year was the austrian presidency that, after a close call, went to a green rather than a nationalist. so whatever explanation we are looking for has to be a tendency that’s slightly shifted the odds in favour of nationalist politicians without the experts being able to anticipate it in advance. some suggest that this resurgent economic nationalism is an inevitable outcome of the overreach of trade liberalisation that has undermined national self-determination and humiliated local cultures. others argue that the real cause is growing income and wealth inequality. i think a potentially more straightforward factor is demography. the electorate is simply older than it used to be. there are a few reasons why this explanation may work better than the more popular ones. the ageing electorate is almost unprecedented in history. this could make it harder for political scientists to predict its impact on elections. surveys might be able to tell us how older people vote as individuals without being able to work out how older people surrounded, in addition, by lots of older peers will behave. countries like italy and japan were somewhat ahead of us on this demographic transition. and perhaps not entirely coincidentally, italy repeatedly elected a mini-trump, silvio berlusconi as prime minister, while continuing to support the elderly at the expense of opportunities for the young. meanwhile, japan has always been more ethno-nationalist than other developed economies and in some ways has grown more politically reactionary in recent decades. this explanation chimes with the fact that trump voters were not typically economically disadvantaged. they were older and less educated but typically economically secure. age was also a big factor explaining support for brexit. at the same time, an ageing population presents real economic challenges that translate into politically salient problems. demography is probably responsible for a great deal of the sustained drop in real interest rates, precisely the sort of thing that worries ageing savers with slowly growing pension pots. trump wants to boost infrastructure, construction and manufacturing. but these sectors do best with young and growing populations, where families want new and bigger houses and offices, roads to connect them and cars to drive to and from them. what happens when everyone already has a great deal of material goods and a country hasn’t got as many young adults to demand new stuff? inevitably, an economy’s trend growth declines and may even contract, leaving investors with fewer places to get a good return. what could this mean about the future? on the one hand, this could be quite a pessimistic explanation. there is very little that can be done in the short or medium term about the demographics of an electorate. so we might just be in for a more reactionary period. the vote is not about strength of belief, just the sheer numbers nudged in that direction, and that is what age can do. on the other, this could be an optimistic hypothesis. the situation we find ourselves in is a side-effect of two generally attractive outcomes: people living much longer, and lower fertility thanks to women becoming more educated. the balance between the young and the elderly might eventually improve once the demographic bulge of the baby boomers has passed into history (this depends critically on whether institutions permit new family formation). in addition, tomorrow’s elderly are not the same as today’s elderly. they will probably be more educated, less nationalist and possibly less subject to cognitive decline than the current generation. they are less likely to be impressed by a bad sales pitch. share this:tweetemailshare on tumblrpocketlike this:like loading... 3 comments is trump so old? its all relative really! 01/20/201701/20/2017 vincent geloso current events, history, politics barack obama, donald trump, health, life expectancy, presidents today is inauguration day. donald trump will officially be the 45th president of the united states of america. many have pointed out that trump is the oldest president (slightly above 70 years of age). i disagree. old is not a “purely” absolute concept. advances in living standards mean advances in our ability to live longer lives. not only do we live longer lives than in the past, but at any point in our life, our health is better. someone who reached 65 years of age in 1900 probably did not have the same health prospects as someone who reaches that age today. basically, the “quality” of old age has increased over time (see this great book on the economic history of aging). so, when people say “old”, i ask “old as compared to what”. to meet that test, i took the cdc data on life expectancy as well as soon historical database  from 1900 to today. i combined it with david hacker’s work on life tables in the us from 1790 to 1900 which can be found in this article of historical methods.  hacker’s data concerns only the white population. i took only the age expectancy at birth of males. then, i plotted the age of the president at the time of inauguration as a share of the life expectancy at birth (e0). this is the result: as one can see, the age of presidents as a share of life expectancy is falling steadily since the early 1900s. in this light, donald trump is not the oldest president. in fact, the oldest president is …. drumroll…james buchanan (1.85 times the life expectancy of white males at birth). moreover, in this light, the youngest president at inauguration is not teddy roosevelt (kennedy was the youngest elected). rather, the youngest is barack obama followed very closely by bill clinton and john f. kennedy. i find this post to be interesting as it shows something more important in my eyes: how the poorest in society have done. presidents have generally stemmed from the top of the income distribution. over time, the ages of presidents at inauguration (in absolute terms) has not followed any clear trend. the drop seen in the graph above is entirely driven by increases in the life expectancy of the “average” american. in a certain way, it shows that the distance between that “joe the plumber” and the “greatest man in america” (huh…lord acton anyone?) seems to be diminishing over time. share this:tweetemailshare on tumblrpocketlike this:like loading... 1 comment on the (big) conditions for a big 01/19/201701/19/2017 vincent geloso economics basic income, bleeding heart libertarians, econtalk, kevin vallier, michael munger, minimum income, phil magness, russ roberts, universal income this week, econtalk featured a podcast between russ roberts and michael munger (he of the famous munger-proviso which i live by) discussed the basic income guarantee (big). in the discussion, there is little i ended up disagreeing with (i would have probably said some things differently though). however, i was disappointed about a point (which i made here in the past) which economists often ignore when discussing a big: labor demand. in all discussions of the big, the debates always revolve around the issue of labor supply assuming that it will induce some leftward shift of the supply curve. while this is true, it is irrelevant in my opinion because there is a more important effect: the rightward shift of the labor demand curve. to make this argument, i must underline the conditions of a big for this to happen. the first thing to say is that a) the social welfare net must be inefficient relative to the alternative of simply giving money to people (shifting to a big must be pareto-efficient); b) the shift mean that – for a fixed level of utility we wish to insure – the government needs to spend less and; c) the lower level of expenditures allows for a reduction in taxation.  with these three conditions, the labor demand curve could shift rightward. as i said when i initially made this point back in january 2016: yet, the case is relatively straightforward: current transfers are inefficient, basic income is more efficient at obtaining each unit of poverty reduction, basic income requires lower taxes, basic income means lower marginal tax rates, lower marginal tax rates mean more demand for investment and labor and thus more long-term growth and a counter-balance to any supply-side effect. as i pointed out back then, the canadian experiment (in manitoba) with a minimum income led to substantial improvements in health outcomes which meant lower expenditures for healthcare. as a result, b) is satisfied and (by definition) so is a). if, during a shift to a big, condition c) is met, the entire discussion regarding the supply effects becomes a mere empirical issue. i mean, equilibrium effects are best analyzed when we consider both demand and supply… p.s. i am not necessarily a fan, in practice, of big. theoretically, the case is sound. however, i can easily foresee policy drifts where politicians expand the big beyond a sound level for electoral reasons (or even tweak the details in order to add features that go against the spirit of the proposal). the debate between kevin vallier (arguing that this public choice reasoning is not relevant) and phil magness (who argues the reverse) on this issue is pretty favorable to magness (in my opinion). update: jason clemens over at the fraser institute pointed to a study they made regarding the implementation of a big in canada. the practical challenges the study points too build upon the magness argument as applied in a canadian perspective.  share this:tweetemailshare on tumblrpocketlike this:like loading... 3 comments post navigation ← older posts search bar search for: follow us email updates enter your e-mail address, then click "the box" join 3,210 other followers recent comments the pox of liberty – dixit the political economy of public health | notes on liberty | shawn eng's stream of wonk on the pox of liberty – dixit the political economy of public health johnbarleycorn12 on on sugary drinks, taxes and demand curves johnbarleycorn12 on on tax resistance, censuses and the cliometrician’s craft jfa on trump’s inauguration: ageing pains brandon christensen on trump’s inauguration: ageing pains michelangelo landgrave on on tax resistance, censuses and the cliometrician’s craft jim rose on has canada been poorer than the us for so long? rick weber on trump’s inauguration: ageing pains brandon christensen on some thursday afternoon love levi russell on some thursday afternoon love trump is right! | notes on liberty on useful neoconservative insights muskegonlibertarian on on the (big) conditions for a big johnbarleycorn12 on is trump so old? its all relative really! rick weber on on the (big) conditions for a big muskegonlibertarian on on the (big) conditions for a big our recent books rethinking canadian economic growth and development since 1900: the quebec case (2017) degrees of freedom: liberal political philosophy and ideology (2015) kierkegaard on politics (2014) nietzsche as political philosopher (2014) rousseau on language and writing: two perspectives (2014) i used to be french: an immature autobiography (2014) les pumas de grande banlieue: histoires d'émigration (2014) du grand rattrapage au déclin tranquille: une histoire économique et sociale du québec de 1900 à nos jours (2013) emancipating slaves, enslaving free men: a history of the american civil war (2013) bemind maar onbekend: de politieke filosofie van het liberalisme (2011) red shambhala: magic, prophecy, and geopolitics in the heart of asia (2011) popular notes on sugary drinks, taxes and demand curves the pox of liberty - dixit the political economy of public health the libertarian case for immigration restriction has canada been poorer than the us for so long? ten best papers/books in economic history of the last decades (part 1) in our notesamerican culture anarchism anthropology book review capitalism china civil liberty climate change colonialism costs decentralization democracy devolution economic 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