Category Archives: Economics

NOT IN THE GNP—THE FULL VALUE OF THE INTERNET.

Posted on March 15, 2013 by Philip

NOT IN THE GNP—THE FULL VALUE OF THE INTERNET. The internet has dramatically changed my life and the lives of everybody reading this. This article in the Economist points out that most of the economic impact of these changes on … Continue reading →

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STEALING FERRIS WHEELS AND GOLD BATHTUBS (COMMENT).

Posted on March 12, 2013 by Philip

STEALING FERRIS WHEELS AND GOLD BATHTUBS (COMMENT). Dick Weisfelder commented on yesterday’s post about the theft of school buses to be resold as scrap that in Toledo a chop shop operation which stole and chopped up semi-trailer trucks had been … Continue reading →

Posted in Economics | 2 Comments

THE THEFT OF THE SCRAPS FROM EIGHT SCHOOL BUSES.

Posted on March 11, 2013 by Philip

THE THEFT OF THE SCRAPS FROM EIGHT SCHOOL BUSES. This article in the Chicago Tribune reports on the overnight theft of eight school buses. They were traced to a scrapyard the first thing in the morning by a GPS tracking … Continue reading →

Posted in Economics | 1 Comment

THEFTS OF WHITENING STRIPS.

Posted on March 10, 2013 by Philip

THEFTS OF WHITENING STRIPS. I have posted a number of times on what seem to me to be unusual thefts. One category is thefts of items that seem to be have comparatively high bulk and low value. I think of … Continue reading →

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AN O HENRY STORY IN 2013.

Posted on March 8, 2013 by Philip

AN O HENRY STORY IN 2013. This is a current human interest story about a “homeless Florida man with a penchant for getting arrested when it’s cold outside.” The judge and the prisoner shared laughs about how he was a … Continue reading →

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A MODEL FOR OP ED ARTICLES.

Posted on February 10, 2013 by Philip

A MODEL FOR OP ED ARTICLES. I recall seeing a statement by Christopher Hitchens that he had been taught to address the other side’s strongest argument and that this approach had gone out of fashion. It seems to me that … Continue reading →

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FEBRUARY, 2013—“MINIMAL WORRIES BY INVESTORS”.

Posted on February 6, 2013 by Philip

FEBRUARY, 2013—“MINIMAL WORRIES BY INVESTORS”. I posted on December 29, 2006 on an article by Professor Larry Summers which pointed out that “financial markets are pricing in an expectation of tranquillity as far as the eye can see.” He noted … Continue reading →

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THE STANDUP ECONOMIST—HYPERINFLATION IN HELL.

Posted on January 26, 2013 by Philip

THE STANDUP ECONOMIST—HYPERINFLATION IN HELL. I have posted several times, including here, about Yoram Bauman, the standup economist. Here is the latest video from the standup economist. In the video, he analyzes the monetary economy of Hell. He will be … Continue reading →

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SUNK COSTS—THE SECOND AVENUE SUBWAY.

Posted on January 25, 2013 by Philip

SUNK COSTS—THE SECOND AVENUE SUBWAY. A corollary of the arguments of Surowiecki and Arkes is that once a large commitment of money is made to a project, it is more likely to eventually be completed. The reluctance to treat previous … Continue reading →

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SUNK COSTS—CHASE HEADLEY AND MARK SANCHEZ.

Posted on January 24, 2013 by Philip

SUNK COSTS—CHASE HEADLEY AND MARK SANCHEZ. In this post from a year ago on sunk costs, I cited an article by Baliga and Ely arguing that a determination that there are sunk costs that should be written off because of … Continue reading →

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