Friday, April 28, 2023

The Economics Major as the Path to Law School

 One of the things that Gary Hoover talked to Kennedy Owen about in in this video was the things that an economics major prepares students for. He mentioned that many of his students have gone on to law school and noted that Econ was the major that tended to do the best on the LSAT.

This is from the Law School Admissions Council. 

You can see that Economics majors have the highest mean and median LSAT scores as well as one of the highest admission rates.

Thursday, April 27, 2023

More Time to Speak Econ

Kennedy Owen produces interviews at a pretty rapid pace. She has posted several new ones since I blogged about Time to Speak Econ a few days ago, including this one with Gary Hoover.

Thursday, April 20, 2023

Time to Speak on Econ

 I received an email yesterday from Kennedy Owen, who is currently a junior in high school, telling me about Time to Speak on Econ a series of interviews she has done with economists. I checked them out and noticed there was one with the economic historian Josh Rosenbloom. I listened to the interview with Rosenbloom and then a couple of others. I like them. She asks questions about the education and careers of each person from the perspective of a young person who is considering studying economics in college. She has one of my favorite qualities in an interviewer: she asks relatively broad questions and then just lets the interviewee talk. 

I hope other people find them useful and enjoyable.

Friday, April 7, 2023

Recent NBER Meetings


Yes, NBER charges for downloads of working papers, but you can watch some recent meetings for free. By the way, it has also been my experience that you can usually find ungated versions of most NBER working papers if you look around.


I think both the Race and Stratification Economics and the Development of the American Economy meetings should be of interest to readers of this blog.


The final presentation at the Race and Stratification meeting is University of Mary Washington economics alum Lavar Edmonds, who is currently working on a Ph.D. in economics at Stanford, presenting his research on the impact of HBCU trained teachers.


I also liked that the Race and Stratification meeting about how one could incorporate race and stratification economics into introductory economics courses.


NBER Race and Stratification Working Group on YouTube


Caste-based and Racial Wealth Inequality in India and the United States

Ishan Anand, Indian Institute of Technology Delhi



Ellora Derenoncourt, Princeton University and NBER

Ashwini Deshpande, Ashoka University


Perceptions of Racial Gaps, their Causes, and Ways to Reduce Them

Matteo F. Ferroni, Boston University

Stefanie Stantcheva, Harvard University and NBER



Michael Kraus, Yale University

Candis Watts Smith, Duke University


Unequal Gradients: Sex, Skin Tone, and Intergenerational Economic Mobility

Luis A. Monroy-Gómez-Franco, University of Massachusetts, Amherst

Roberto Vélez-Grajales, Centro de Estudios Espinosa Yglesias

Gastón Yalonetzky, Leeds University



Art Goldsmith, Washington and Lee University

Chantal Smith, Washington and Lee University


Teaching Discrimination in Introductory Economics: An Approach Incorporating Stratification Economics

Jorgen M. Harris, Occidental College

Mary Lopez, Occidental College


Complementary Investments Over the Life Course and the Black-White Earnings Gap

Sonia R. Bhalotra, University of Warwick

Damian Clarke, Universidad de Chile

Atheendar Venkataramani, University of Pennsylvania and NBER


Estimating Disenfranchisement in U.S. Elections, 1870-1970

Jeffery A. Jenkins, University of Southern California

Thomas R. Gray, University of Texas at Dallas


The Determinants and Impacts of Historical Treaty-Making in Canada

Donn. L. Feir, University of Victoria

Rob Gillezeau, University of Toronto

Maggie E.C. Jones, Emory University and NBER


A Simple Model of Group Conflict, Inequality and Stratification

Daniele Tavani, Colorado State University

Brendan Brundage, Colorado State University



Pablo Beramendi, Duke University

Patrick L. Mason, University of Massachusetts Amherst


Racial Disparities in the Tax Treatment of Marriage

Janet Holtzblatt, Tax Policy Center

Swati Joshi, Brookings Institution

Nora R. Cahill, Brookings Institution

William Gale, Brookings Institution


Not so Black and White: Uncovering Racial Bias from Systematically Misreported Trooper Reports

Elizabeth Luh, University of Michigan


Economic Inequality and Stratification after a Natural Disaster

Anita Alves Pena, Colorado State University


Role Models Revisited: HBCUs, Same-Race Teacher Effects, and Black Student Achievement

Lavar C. Edmonds, Stanford University


Michael Gottfried, University of Pennsylvania

Karolyn Tyson, Georgetown University



NBER Development of the American Economy Program meeting on YouTube


A Penny for Your Thoughts

Walker Hanlon, Northwestern University and NBER

Stephan Heblich, University of Toronto and NBER

Ferdinando Monte, Georgetown University and NBER

Martin B. Schmitz, Vanderbilt University


Legal Activism, State Policy, and Racial Inequality in Teacher Salaries and Educational Attainment in the Mid-Century American South

Elizabeth U. Cascio, Dartmouth College and NBER

Ethan G. Lewis, Dartmouth College and NBER

This paper was distributed as Working Paper 30631, where an updated version may be available.


US Educational Mobility in the Early Twentieth Century

Martha J. Bailey, University of California, Los Angeles and NBER

Abdul Raheem Shariq Mohammed, Northeastern University

Paul Mohnen, University of Pennsylvania


The Value of Ratings: Evidence from their Introduction in Securities Markets

Asaf Bernstein, University of Colorado at Boulder and NBER

Carola Frydman, Northwestern University and NBER

Eric Hilt, Wellesley College and NBER

This paper was distributed as Working Paper 31064, where an updated version may be available.


Germ Theory at Home: The Role of Private Action in Reducing Child Mortality during the Epidemiological Transition

James J. Feigenbaum, Boston University and NBER

Lauren Hoehn-Velasco, Georgia State University

Sophie Li, Boston University


“Muddling Through or Tunnelling Through?”: UK Monetary and Fiscal Exceptionalism during the Great Inflation

Michael D. Bordo, Rutgers University and NBER

Oliver Bush, Bank of England

Ryland Thomas, Bank of England

Tuesday, April 4, 2023

Economic History in The American Historical Review


Everyday Economic Justice: Mediating Small Claims in Mexico City, 1813–1863

Louise E. Walker


This article examines economic justice in nineteenth-century Mexico City through analysis of small-claims conflicts—juicios verbales. After the promulgation of the 1812 Cádiz Constitution, this centuries-old tradition of judicial arbitration was shaped by liberal constitutionalism. A new class of officials, the alcaldes constitucionales, were elected by residents to decide cases. Cádiz liberalism inaugurated a new world. What happened when people faced a classic problem, when they did not pay their debts? Microeconomic history—the quantitative and qualitative study of the economic relationships, decisions, and actions of individuals, households, and small enterprises—exposes the workings of economic justice. From 1813 to 1863, tens of thousands of residents pressed their claims before magistrates. As this article shows, justice grounded in Cádiz liberalism was relatively effective for ordinary people and evinced a gender fairness. These small-claims conflicts might seem a petty world of negligible amounts and narrow-minded disputes, but analyzed together, they challenge conventional interpretations about institutional deficiency and historical underdevelopment. Cádiz liberalism established a judicial institution to protect property rights, especially for creditors, that enjoyed broad legitimacy.


When Hay Was King: Energy History and Economic Nationalism in the Nineteenth-Century United States

Ariel Ron

Hay was a linchpin of the early industrial energy regime. It was the primary fodder for working horses, who became more rather than less important over the 1800s. Though largely ignored by historians, hay was of comparable value to cotton and wheat in the nineteenth-century United States. The crop’s historiographical invisibility is partly due to its relatively informal and decidedly subglobal production and exchange patterns. Whereas cotton and wheat exports passed through customhouses and institutionalized exchanges that carefully recorded trade volumes, hay was almost never exported and often underwent no market transaction at all, instead being used as an intermediate good on farms. Only when the US federal government added a detailed agricultural census in 1850 did the magnitude and importance of hay production become publicly legible. At that point, hay was drafted into a wide-ranging debate about economic development between Northern antislavery nationalists and Southern proslavery free traders, with “King Hay” emerging as a foil for “King Cotton.” King Hay thus urges historians to pay more attention to the trade patterns, developmental policies, and economic ideologies that generated distinctly national, as opposed to global, economic spaces within nineteenth-century capitalism.