A Renaissance in Economics The American President Ronald Reagan once quipped, “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’” I get the same shivers when someone introduces themselves as an economist.
posted by infini
on Feb 13, 2013 -
“LEGO® sets are not cheap toys. They are made to the highest standards and have the price to go along with it. However, in the past couple decades it seems that the price of LEGO sets has become outrageous. New sets can sell for up to $500 retail and old sets can sell for twice that in a secondary market. This is a children’s toy, right? There is no way LEGO sets have always been this expensive; it is just molded plastic. Let’s take a look at the history of LEGO pricing and try to figure out what is going on
posted by zamboni
on Feb 7, 2013 -
Philip Pilkington writes for naked capitalism
: The Origins of Neoliberalism
: Hayek's Delusion
Hayek’s entire ideology and career had begun to come apart in the 1930s. His theories were shown to be inconsistent in the academic journals of the time and the practical implications of those theories had shown themselves to be both discredited and dangerous. A man in such a position only has two choices: he can either completely re-evaluate his ideas which, if they were held with unshakeable conviction and constituted a core component of his emotional make-up, as seems to have been the case with Hayek, would have likely resulted in a mental collapse; or, alternatively, he can engage in a massive repression, shut out reality and construct around himself a fantasy world. [more inside]
posted by the man of twists and turns
on Jan 18, 2013 -
In less than an hour, the Supreme Court will hand down its final judgment in what has become one of the most crucial legal battles of our time: the constitutionality of President Obama's landmark health care reform law.
The product of a strict party line vote following a
of debate, disinformation
, and tense legislative wrangling, the Affordable Care Act
would (among other popular reforms
) require all Americans to buy insurance coverage by 2014, broadening the risk pool
for the benefit of those with pre-existing conditions.
The fate of this "individual mandate," bitterly opposed by Republicans despite its similarity to past plans touted by conservatives
(including presidential contender Mitt Romney
) is the central question facing the justices today
. If the conservative majority takes the dramatic step
of striking down the mandate, the law will be toothless, and in danger of wholesale reversal, rendering millions uninsured
, dealing a crippling blow to the president's re-election hopes, and possibly endangering the federal regulatory state
But despite the pessimism of bettors
, some believe
the Court will demur, wary of damaging
its already-fragile reputation
with another partisan 5-4 decision
. But those who know don't talk, and those who talk don't know
. Watch the SCOTUSblog liveblog
for updates, Q&A, and analysis as the truth finally comes out shortly after 10 a.m. EST.
posted by Rhaomi
on Jun 28, 2012 -
GDP since Jesus. That headline is a big promise. But here it is: The economic history of the world going back to Year 1 showing the major powers' share of world GDP, from a research letter written by Michael Cembalest, chairman of market and investment strategy at JP Morgan.
everything to the left of 1800 is an approximation of population distribution around the world and everything to the right of 1800 is a demonstration of productivity divergences around the world. [more inside]
posted by Golden Eternity
on Jun 22, 2012 -
Felix Salmon muses on why art prices keep rising.
On the way, he discusses why some art becomes super-popular:
"Fine art has become the billionaire’s-club equivalent of a Louis Vuitton bag, slathered in logos. It’s not connoisseurship which drives values, so much as recognizability. Which in turn helps to explain why the most prolific artists (Picasso, Warhol, Hirst) are also the most expensive: the more of their work there is, the more exposed to it people become, the more they’ll recognize it, and therefore the more desirable it is."
posted by benbenson
on Feb 8, 2012 -
Over the past few centuries, Western cultures have been very good at creating general prosperity for themselves. Historian Niall Ferguson asks: Why the West, and less so the rest? He suggests half a dozen big ideas from Western culture -- call them the 6 killer apps
-- that promote wealth, stability and innovation. And in this new century, he says, these apps are all shareable. [more inside]
posted by Foci for Analysis
on Oct 4, 2011 -
Wall Street Lays Another Egg.
"Not so long ago, the dollar stood for a sum of gold, and bankers knew the people they lent to. The author
charts the emergence of an abstract, even absurd world—call it Planet Finance—where mathematical models ignored both history and human nature, and value had no meaning."
posted by homunculus
on Nov 7, 2008 -
A nice article
on some of the engineering and economics aspects of WiFi, and the history of frequency regulation in the USA.
posted by freebird
on Aug 16, 2004 -