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RIGHT-CENTER BIAS, MIXED
In his "Philosophical Origins of Austrian Economics" (Mises Daily, June 17, 2006), David Gordon writes that Eugen von Böhm-Bawerk maintained that concepts employed in economics must originate from reality—they need to be traced to their ultimate source in the real world. If one cannot trace it, the concept should be rejected as meaningless. Yet, assumptions employed by economists in their models often appear to be detached from the real world altogether. For example, in order to explain the economic crisis in Japan, well-known economist Paul Krugman employed a model that assumes that people are identical and live forever and that output is given. Whilst admitting that these assumptions are not realistic, Krugman nonetheless holds that somehow his model could be useful in offering solutions to the economic crisis in Japan.
from Spokane Daily Chronicle
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from The Spokesman-Review
Newspaper in Spokane, Washington
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from Yahoo News
LEFT-CENTER BIAS, HIGH, news website owned by Verizon Media
Bill Rauer, executive director of the Idaho Building Contractors Association, was shocked when in the midst of the pandemic he started hearing about people from out of state showing up on the doorsteps of local homeowners and offering $50,000 to $150,000 over market price for their homes. “When the pandemic hit, it just seemed like everyone who was contemplating going to Idaho thought, ‘That’s it, we’re going,’” he said. “I’ve never seen anything like it.” Last year, Idaho’s population took the top spot for year-to-year growth, with an increase of 2.1 percent, and second place for the fastest-growing state in the country over the past decade, with an increase of 17.3 percent, according to U.S. census data. But Idaho’s popularity soared even more during the COVID-19 pandemic. The meteoric rise in its appeal, and the growing pains locals are now facing, are an example of the aftermath of the urban-to-rural exodus in evidence throughout the country.
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