All posts by TRF

Coase, firms, and governments: two important takeaways

I’ve been thinking about a couple classic papers by Ronald Coase (Nobel Prize in Economics, 1991) lately. Here are some ideas that I think are important. *** There are transaction costs associated with participation in markets. Firms (companies) provide a way to reduce those transaction costs, but at the cost of higher inefficiencies that come… Read More »

Basic income primer

I’ve had this queued up for a while. Turns out it’s International Basic Income Week this week: good excuse for me to post this now. What is it? Basic income is a proposed welfare system that gives every adult citizen an unconditional income to cover essential living expenses. Everyone receives the same non-means-tested income: a… Read More »

I want to be a

These are my main issues with higher education today: -it divides society into winners and losers along socioeconomic lines -it delivers education through a single outdated model -it’s an inefficient way of getting people into the jobs we need them to do right now For all of these reasons, we need to update our thinking… Read More »