This one came from beer, and the housing market. Once again, remember that these are points for discussion – I am not saying I agree or disagree with them. Wisdom and luck are different. Wisdom is the result of investment in order to improve the expected value of choices. Luck is simple chance. Confusing the […]
NOTE: Nominations are now closed Last year I learnt a very important lesson – I am not the only person that thinks that the study and application of economics is sexy. The sexiest economist competition led to a lot of discussion, a deserved winner (don’t let me forget to pass on a trophy at some […]
Over at Polity Rob Salmond has promised us the truth about the gap between NZ’s rich and the rest (via Toby Manhire)! This would be encouraging, given the complexity of the data. I just want to say at the start I have full respect for people who want to discuss these important issues, including the […]
Criticising broad economics for measuring and discussing issues on the basis that macro forecasts predictions are inaccurate is equivalent to criticising climate science because weather forecasting is inaccurate. Note: https://twitter.com/neurobonkers/status/422097747563409408/photo/1
I am trying to gradually clarify my perception of what economics is. Here are some cliff notes from a recent discussion I had: Economists try to answer questions about “the allocation of resources given scarcity”. Every question is quite specific and different, economics education involves learning a broad set of skills that allow us to […]
I had trouble getting out of bed this morning, so to help get me going I decided to read an essay about economics. And I ran back into a treat of an essay I think we should all read. This is Modern Economics and its Critics, 1: by Partha Dasgupta. His focus is explicitly on […]