Category Archives: Economics

HOW THE BARREL AFFECTS WHISKEY.

HOW THE BARREL AFFECTS WHISKEY. Not surprisingly, some of the effect of a barrel on the whiskey inside it occurs because the alcohol gradually dissolves some elements in the wood. However, heat and cold also increase the effect of the … Continue reading

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A LOCKED ROOM—OR SEALED BARREL—MYSTERY.

A LOCKED ROOM—OR SEALED BARREL— MYSTERY. In this article in the Atlantic, Wayne Curtis writes about the possible importance of barrels to the quality of bourbon. He asked about a dozen people in the bourbon industry how much of the … Continue reading

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THE EXCITEMENT OF RECYCLING.

THE EXCITEMENT OF RECYCLING. When I was around five, during the period when most little boys are expecting to grow up to be policemen or firemen, my brother Elmer and I wanted to be garbagemen. The garbagemen who came every … Continue reading

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WHY WE DECIDED TO PAY OUR BABY SITTERS MORE THAN THE GOING RATE.

WHY WE DECIDED TO PAY OUR BABY SITTER MORE THAN THE GOING RATE. We also decided to pay our baby sitters a premium over the going rate, but for a slightly different reason. We did not have a regular schedule … Continue reading

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HOW TWO ECONOMISTS DECIDED HOW MUCH TO PAY THEIR BABY SITTERS.

HOW TWO ECONOMISTS DECIDED HOW MUCH TO PAY THEIR BABY SITTERS. This article by Benyamin Applebaum in the New York Times (October 9) about Janet Yellen’s appointment to head the Federal Reserve Board begins with a a story about a … Continue reading

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TREATING A DEBT CEILING NEGOTIATION AS A SIMPLE CHICKEN GAME.

TREATING A DEBT CEILING NEGOTIATION AS A SIMPLE CHICKEN GAME. In this post from a year and a half ago, I pointed out that the March, 2012 debt crisis was not a simple chicken game. I based this on Dick … Continue reading

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WHAT’S THE BEST COLOR FOR A PAINTING?

WHAT’S THE BEST COLOR FOR A PAINTING? Grayson Perry in the Financial Times (October 12-13) says that, in the opinion of Philip Hook (who works for Sotheby’s), red paintings will always sell best, followed by white, blue, yellow, green and … Continue reading

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PORTRAITS AS WELL AS LANDSCAPES ARE OUT OF FASHION.

PORTRAITS AS WELL AS LANDSCAPES ARE OUT OF FASHION. I posted here about Jackie Wullschlager’s observation in the Financial Times in 2009 that: “Landscape in 20th and 21st century art is less than unfashionable––it has dropped off the radar screen.” … Continue reading

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GETTING CLOSER TO THE CLIFF.

GETTING CLOSER TO THE CLIFF. One way to win a chicken game is to be the one who gets closer to the edge. If there is a series of chicken games, each person learns a little more with each game … Continue reading

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IS THE UNITED STATES GOVERNMENT “TOO BIG TO FAIL”?

IS THE UNITED STATES GOVERNMENT “TOO BIG TO FAIL”? As I post this, the government is in another of a a series of negotiations about the federal debt ceiling. I have posted before about the United States debt ceiling crisis … Continue reading

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