Category Archives: Economics

CHEAP HORSES AND EXPENSIVE HORSES.

Posted on May 16, 2014 by Philip

CHEAP HORSES AND EXPENSIVE HORSES. Was Carry Back more of a bargain than California Chrome? Calirornia Chrome cost, including stud fee, $10,500. Carry Back cost $700, including stud fee, in 1961 dollars. How much does that translate into in today’s … Continue reading →

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CHEESE CONSUMPTION AND DEADLY BEDSHEETS.

Posted on May 12, 2014 by Philip

CHEESE CONSUMPTION AND DEADLY BEDSHEETS. Tyler Cowen at the Marginal Revolution blog links to a website devoted to spurious correlations. The website says that the server attempts to find a new correlation every 60 seconds. Here are some examples. The … Continue reading →

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DOORKNOBS AND LOBBYING.

Posted on May 2, 2014 by Philip

DOORKNOBS AND LOBBYING. Kids, I think the Economist article about doorknobs reflects some of my cynicism about lobbyists. It recounts the arguments of lobbyists on both sides of the doorknob/door handle dispute, and points out the business issues at stake. … Continue reading →

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THE DANGERS OF DOORKNOBS.

Posted on May 1, 2014 by Philip

THE DANGERS OF DOORKNOBS. The Economist (April 19) had an article about a new Vancouver regulation which bans doorknobs in all new buildings. The theory is that many of the elderly and the disabled find levered door handles easier to … Continue reading →

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TOM SHIPPEY’S JUDGMENT ON “RAIDERS OR TRADERS”.

Posted on April 25, 2014 by Philip

TOM SHIPPEY’S JUDGMENT ON “RAIDERS OR TRADERS”. I have posted several times on the issue of whether Vikings were “raiders” or “traders”. I have generally supported the “trader” side of the argument. For example, I posted here about a report … Continue reading →

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THE MARKET FOR LEMONS.

Posted on April 24, 2014 by Philip

THE MARKET FOR LEMONS. New cars lose a lot of value after a few months. Kids, this article gives an explanation for why this happens, using Professor Akerlof’s model in his paper, The Market for Lemons. Assume that there are … Continue reading →

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OTHER PEOPLE KNOW MORE ABOUT THEMSELVES THAN YOU DO.

Posted on April 22, 2014 by Philip

OTHER PEOPLE KNOW MORE ABOUT THEMSELVES THAN YOU DO. Kids, the third item on Professor Sargent’s list did not receive much attention when I was studying economics some fifty years ago. It seems obvious: “3. Other people have more information … Continue reading →

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“MANY THINGS THAT ARE DESIRABLE ARE NOT FEASIBLE.”

Posted on April 21, 2014 by Philip

“MANY THINGS THAT ARE DESIRABLE ARE NOT FEASIBLE.” The first two items on Professor Sargent’s list are: “1. Many things that are desirable are not feasible. 2. Individuals and communities face trade-offs.” For me, these are the fundamental insights of … Continue reading →

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ECONOMICS IN 335 WORDS.

Posted on April 20, 2014 by Philip

ECONOMICS IN 335 WORDS. Alex Tabarrak on the Marginal Revolution blog quotes a tour de force by Thomas Sargent ( a winner of the Nobel Prize in Economics) in which he summarizes economics in 335 words. Here is the link. … Continue reading →

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CONTAINERS AND GLOBALIZATION.

Posted on April 14, 2014 by Philip

CONTAINERS AND GLOBALIZATION. Rose George’s title—90% OF EVERYTHING—is inspired by a poll of residents of Southampton, England, which is a port city whose inhabitants are well aware of the shipping industry. The poll asked what percentage of goods they thought … Continue reading →

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