Over past week one of the most interesting phenomenon I have seen in global economics has come to pass: investors (primarily in Europe) have decided that the world’s economic outlook is so grim that they are willing to park their money in negative-yield financial instruments. This was supposed to be an irrational decision, by traditional
FT.com has an interesting interactive page where you can estimate the value of your personal data, based on several demographic characteristics. The calculator accompanies a short piece that analyzes just how little individual data is worth in the open market. As the piece notes: The sheer ubiquity of details about hundreds of millions of consumers
Marketwatch.com has a piece today on the “10 Things Economists Won’t Tell You.” With tongue firmly in cheek, the list runs from “We can’t predict the next crisis…” (#1), to “…but we may help cause it” (#3), to — my personal favorite — “Ours is s dismal science, but not an exact one” (#6). This last
There is a great short piece on WSJ.com E.O. Wilson, biologist and professor emeritus at Harvard. His little essay argues that kids who are not great at match should not automatically rule out a career in the sciences: Wilson makes an emotional case for general brilliance over mathematical prowess as the true key scientific discovery:
“Poor Economics” is required reading for anyone who cares about the poor and how to best structure aid to people who need economic help around the world. Unlike so many authors in this genre, Banerjee and Duflo are not out to make a case for a particular agenda, ideology or to castigate rich countries for
On Dec 5 the Wall St Journal ran an an interesting piece about an attempt by some academics to calculate the cost to the economy of the uncertainty in government policy. As the Journal notes: With the election over, the focus is back on figuring out just how much uncertainty actually hurts an economy. It
I recommend a read through this post on the myth of austerity in Europe by Philip Bagus, a professor at Rey Juan Carlos University in Spain: http://mises.org/daily/6289/The-Myth-of-Austerity It is a lucid restating of the classic Austrian argument against artificial interventions in recessionary market clearing mechanisms.
There is a fascinating story in today’s FT about the increase in foreigners taking up the UK’s offer of a UK passport in exchange for 1M pound investment. As the piece notes: “The number of wealthy migrants entering the UK on specialist visas designed to attract millionaire investors jumped by over three-quarters last year, led