An article in the Herald says some interesting things: The world could run out of affordable chocolate within 20 years as farmers abandon their crops in the global cocoa basket of West Africa, industry experts claim. … “In 20 years chocolate will be like caviar. It will become so rare and so expensive that the […]
The title sounds serious, but I am (sadly) not capable of steering into too much detail in this subject matter. However, given that I have a rising interest in neuroeconomics I felt I should type something out about this quote (ht Andrew Sullivan): Dualists about the mind and brain – those who hold that there […]
If you can follow the idea that price setting is a co-ordination game, you can see one of the reasons why monetary policy has real effects. When economists discuss “menu costs” as a major reason for prices not changing, they are primarily thinking of this strategic element (where there are multiple, pareto ranked, stable and […]
No Right Turn points to a “does inequality matter” workshop thing. Very good, I would be keen to go except – it is over a work day. It takes up an entire Tuesday, from 8.30am to 5pm. It is set up so that it is on at a time when lots of people have to […]
Dr. Bernanke unfortunately does not understand economics, he does not understand currencies, he does not understand finance,” (Jim) Rogers, 68, said in a lecture at Oxford University’s Balliol College yesterday From here. Look, the guy can disagree with Federal Reserve policy – it would be nice if he actually explained why – but even if […]
The November 10 Fed meeting is more important for New Zealand then I think we currently recognise. The decisions they make over the next two days are going to have a profound impact on the general monetary policy environment around the world – and New Zealand will not be immune. Once they finally announce what […]