Phil NA Response to Matt Bruenig’s Inflation PostsMatt Bruenig has written a set of posts about the current inflation/greedflation discourse (here,here,here, and here). Bruenig is smarter…6 min read·Jun 29, 2023----
Phil NSupply and Demand: Market and FirmReading some of the inflation discourse has re-activated a certain pet peeve of mine. However, I had previously thought it was a simple…42 min read·Jun 14, 2023----
Phil NTaxing Price Increases (Part II)Currently the UK is looking to implement a windfall profit tax; i.e. taxing excess profits being earned by oil companies. Similar ideas…7 min read·Jun 28, 2022----
Phil NTaxing Price Increases (Part I)With oil and gas prices climbing higher and higher, there has been much discussion over what is causing the price inflation. Some have…7 min read·Jun 28, 2022----
Phil NMarginal Demand and Maximal Profit (Price Controls Pt. 2)Recapping what was introduced in Part 1. A firm has a profit defined as:6 min read·Jun 8, 2022----
Phil NModelling the Demand Curve (Price Controls Pt. 1)Imagine you run a firm that is going to produce and sell a single product, say a pharmaceutical drug. You aren’t sure what price to sell…9 min read·Jun 8, 2022----
Phil NSome Real Data for the Min Wage PostI recently came across this paper about minimum wage effects. The paper presents a far more complicated model than the one I used in my…4 min read·Apr 16, 2022----
Phil NModelling the Supply Curve and Minimum WageDavid Card recently won the Economics Nobel Prize (along with Joshua Angrist and Guido Imbens). His work on labor economics (with Alan…13 min read·Jan 11, 2022----
Phil NWhy care about Pareto Efficiency/Improvement?I recently saw this Bloomberg article which argued against deficits. The article pointed to a set of studies involving macroeconomic models…10 min read·Sep 28, 2021----
Phil NMonopsony TheoryIn my first blogpost (here) I connected some equations related to the economics of monopolies and applied them to labor markets. I ended up…13 min read·Sep 7, 2021----