Virginia Postrel’s Economic Scene column in today’s New York Times highlights some of the arguments in Joel Mokyr’s new book, The Gifts of Athena. Virginia’s treatment captures the book’s focus on transmission and distribution of “useful knowledge” as the source of the dramatic shift toward increasing economic performance in the 19th century. It’s a wonderful …
What a fascinating juxtaposition of articles on oil and politics today. In the National Review online, Doug Bandow writes about the political aspects of the US-Saudi relationship and the oil supply. Bandow points out some of the most important economic aspects of technological change, economic dynamism in the oil industry, and a chillier relationship with …
Brian Mannix of the Mercatus Center and I have written a comment on the Federal Energy Regulatory Commission’s Standard Market Design proposal. The press release and the Reason policy study are available on the Reason Public Policy Institute website. From the press release: The Federal Energy Regulatory Commission’s Standard Market Design proposal is a bold …
According to British television regulators, the CNBC TV show “The Wall Street Journal Editorial Board With Stuart Varney” is a marketing device for the Wall Street Journal, and is therefore not shown in the UK. Apparently this is a thinly-veiled attempt to retain market power for the government-run BBC television programming. The editorial on this …
I am back from my electricity and experimental economics-fest in Washington, where I read this good Washington Post column by David Ignatius on the question of whether attacking Iraq is about oil. He points out some of the important economics of global oil markets, which politicians and pundits often conveniently forget. He also points out …
Tech Central Station is full of goodies today, including this article from Jennifer Zambone on experimental economics, Arnold Kling on investing and the margin of safety, and Jim Glassman on investing in the “Nifty 50”. Very interesting. OK, I’m off to teach.
Okay, I admit it, I’m a gearhead. Tools, gadgets, all very cool. Energy industries are chock full of really cool technology, as indicated in this Globe and Mail article about 3-dimensional computer imaging of potential drilling sites, based on seismic data. Such technology enables the petroleum engineer to survey the plot from Calgary instead of …
David Warsh has written this superb column on experimental economic’s development, and Vernon Smith’s role in that development. He tells the story very well, illustrating the experimental diaspora from the vibrant group of scholars at Purdue in the late 1950s and early 1960s. Warsh also mentions one of those scholars, Jonathan Hughes, who was a …
Virginia Postrel’s New York Times column today addresses new institutional economics and the rich array of fascinating economic research going on in NIE right now.
This Reason interview with Vernon Smith is a good read, with lots of insight into experimental economics. And this New York Times article from today discusses both Smith’s and Kahneman’s work.
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