I thought I had finally accepted that economics has turned into a world in which each article tries to one-up the last article with bad puns and migraine-inducing abstracts.*
Then comes along Roland G. Fryer, Jr. and Steven D. Levitt (of
Oh, look, abstract that doesn’t make a mystery of the authors’ findings, while still making me want to read the entire article:
Rather than a terrorist organization, the 1920s Klan is best described as social organization with a wildly successful multi-level marketing structure fueled by an army of highly-incentivized sales agents selling hatred, religious intolerance, and fraternity in a time and place where there was tremendous demand.
It’s enough to restore faith in economics.