Browsing All Posts published on »July, 2010«

Monkeys & the Housing Bubble

July 29, 2010

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Good news – monkeys would have taken option ARM and pay-as-you go mortgages too: http://www.ted.com/talks/laurie_santos.html For more about Human Irrationality, check out Dan Ariely’s blog and his book – Predictably Irrational.

Equilibrium Economics & DSGE

July 27, 2010

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Many thanks to Greg Mankiw for posting the link on his blog to Robert Solow’s prepared statement to the House Committee on Science and Technology Subcommittee on Investigations and Oversight – “Building a Science of Economics for the Real World.“ I didn’t realize it at the time, but I was introduced to the field of […]

The Social Media Monopoly

July 21, 2010

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Interesting article on Wired today – 5 Things That Could Topple Facebook’s Empire. It’s fun and easy to create this lists – 5 things that…, 10 things that… – but thought-provoking nonetheless. Terms on a patent are 20 years, but businesses of the Facebook sort are difficult to make patentable, let alone enforce any legal […]

Rational Optimism – Matt Ridley on TED.com

July 19, 2010

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How humans’ ability to conceptualize and capitalize on gains from trade leads to economic and societal progress: http://www.ted.com/talks/lang/eng/matt_ridley_when_ideas_have_sex.html Ridley references one of my favorite economics lessons from Uncle Milty – The Story of the Pencil – though he fails to cite Milton Friedman on the idea… Found that rather disappointing. (Thanks to Paul Kedrosky’s blog […]