The two most recent posts there are quite entertaining and pithy. First, in commenting on the tedium and general lack of editing in the LOTR films, Alex Singleton observes Yet the Lord of the Rings films have netted lots of money. Bad films, making lots of money. Is this an example of market failure? Well, … More I Am Enjoying The New Adam Smith Institute Blog … More I Am Enjoying The New Adam Smith Institute Blog
Is reading David Hume. From his essay “Of the Jealousy of Trade,” (1759): Nothing is more usual, among states which have made some advances in commerce, than to look on the progress of their neighbours with a suspicious eye, to consider all trading states as their rivals, and to suppose that it is impossible for … More One Reason Why I Love Teaching History Of Economic Thought … … More One Reason Why I Love Teaching History Of Economic Thought …
This week Newsweek has an intelligent article on experimental economics and its value in application to real-world problems. It starts with a profile of Vernon Smith and the work he pioneered that won him the Nobel last year, and illustrates the origins of experimental research: Smith did not set out to bring down the establishment. … More Newsweek Article On Experimental Economics … More Newsweek Article On Experimental Economics
I spent the weekend at a beach house in Michigan with my husband and six close friends, one of whom is a die-hard Cubs fan. She couldn’t even listen to the second game in the same room with the rest of us on Saturday, but instead sat outside and watched the lake. Thankfully we had … More Cubs Clinch! … More Cubs Clinch!
On Wednesday Tyler Cowen raised the following points about Callum McCarthy’s Financial Times editorial on the London blackout: OK, the author is Callum McCarthy, chief energy regulator in the UK, and he presumably has a vested interest in defending the status quo. And I don’t understand his convoluted take on overcapacity and price history, as … More Callum Mccarthy On The London Blackout … More Callum Mccarthy On The London Blackout
As with almost everything that Jonathan Rauch writes, including this recent Atlantic Monthly article on genetically modified food, this National Journal article on dos and do-nots instead of haves and have-nots is utterly insicisive and insightful. He does a nice job of summarizing research on poverty that has moved beyond the convictions of the early … More Jonathan Rauch: Dos And Do-nots … More Jonathan Rauch: Dos And Do-nots
We were sitting here last night, watching the USA-Nigeria game in the Women’s World Cup, in which Mia Hamm played brilliantly: Mia Hamm’s team mates have come to expect big games from her. But Thursday night’s performance in the USA’s 5-0 win over Nigeria was out of the ordinary even for the world’s all-time leader … More Both Halves Of A Power Sports Couple Excelled Last Night … More Both Halves Of A Power Sports Couple Excelled Last Night
Hal Varian’s Economic Scene column today is a very clear and succinct analysis of the dynamics underlying the current state of politics in California. His summary of the electricity crisis is pretty sound (although he does persist in calling what they did deregulation, which it was not). A highly recommended read. … More Varian On California
With five games to go in the season, the Cubs are in first place in the NL Central. Who’d a thunk it? Back in June, when we didn’t fall prey to our usual “June swoon”, people started saying things like “if we can just stay in the running until September, then we have an easier … More How ’bout Those Cubs? … More How ’bout Those Cubs?
For economics commentary from a British perspective, check out the new Adam Smith Institute blog (with thanks to William Sjostrom for the pointer). … More Adam Smith Institute Blog