As I’ve mentioned previously, This American Life has been presenting an ongoing series about the financial crisis and the economy. Below is a list of the relevant entries so far. I recommend you listen to them all. The Giant Pool of Money Another Frightening Show About the Economy Bad Bank The Watchmen Return to the […]
David Zetland teaches Environmental Economics and Policy 100 at UC Berkeley. In this YouTube clip from one of his lectures, he demonstrates how political lobbying is like an all-pay auction (an auction where you pay your bid regardless of whether or not you actually bid the final, highest bid). [YouTube – Political lobbying explained through […]
Malcolm Gladwell’s new article, Cocksure, is about the psychology of overconfidence. In it he postulates that the brashness of experts caused the current financial crisis. Since the beginning of the financial crisis, there have been two principal explanations for why so many banks made such disastrous decisions. The first is structural. Regulators did not regulate. […]
If you’re confused about what caused the greatest financial crisis since the depression, let This American Life teach you in words you can understand, how the mortgage lending crisis started, with their episode The Giant Pool of Money and follow-up with their episode Another Frightening Show About the Economy in which we learn: How and […]
Scott Adams, creator of Dilbert, wondered why someone wasn’t doing something that would give American voters useful and unbiased information about which candidate has the best plans for the economy. Then he realized that he was someone. He commissioned a survey of over 500 economists, drawn from members of the American Economic Association, a nonpolitical […]
Steven Levitt, of Freakonomics fame, at a 2005 TED Talk speaks about the economics of car seats. His data lead him to ask the morally difficult question, are children’s car seats worth the time and expense it takes to use them? [ted id=30] Hit play or watch Steven Levitt on child car seats at TED.com.
Today, for the first time in my lifetime (and since 1976 if you want to get specific) the Canadian dollar was worth slightly more than the US’s famous greenback. If this trend sticks, I’m tempted to hit up Disneyland for a Christmas vacation, or maybe a pre-Christmas vacation.
Over on the Freakonomics blog, Steven D. Levitt asks the thought provoking question, what would you do to maximize terror if you were a terrorist with limited resources. Readers’ responses to the post were a mixed bag of terror suggestions and hate mail. In a follow-up post, Levitt says that, “The people e-mailing me can’t […]
The Gapminder World 2006, beta is pretty cool. It also makes me a little more aware (maybe even uncomfortably so) of the world around me.
Within any collaborative effort, participants do their part giving so that there might be some kind of benefit reaped out of the collective work of the project. Derek Powazek proposes that perhaps the participants need not even be aware of their contributions in order for a system to form benefitting the perverbial greater good. Read […]