Category Archives: Economics

STATISTICS—THE COURSE THAT SHOULD BE REQUIRED.

Posted on December 3, 2012 by Philip

STATISTICS—THE COURSE THAT SHOULD BE REQUIRED. Meyer Burstein used to tell his economics students that the one course that should be required in college was statistics. My nephew Andrew Schaefer (a mathematics professor) has told me that he believes that … Continue reading →

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UNDERESTIMATING UNCERTAINTY.

Posted on December 2, 2012 by Philip

UNDERESTIMATING UNCERTAINTY. Nate Silver’s book is about the problems of making predictions. (Silver just successfully predicted which presidential candidate would win the 2012 election in each of the 50 states). Silver says: “… in general our predictive errors come in … Continue reading →

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THOUSANDS OF TURKEYS.

Posted on November 21, 2012 by Philip

THOUSANDS OF TURKEYS. Logistics don’t receive the attention they deserve. I posted here about Alain de Botton’s assertion that: “the achievements of logistics (the distribution of goods in the global economy) are beautiful and neglected.” (Amazon is an example of … Continue reading →

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THREE DIMENSIONAL PRINTING WITH OLD MILK BOTTLES.

Posted on November 12, 2012 by Philip

THREE DIMENSIONAL PRINTING WITH OLD MILK BOTTLES. I have posted, including here, about the promise of three dimensional printing and on how to do it. Apparently, there is an annual race in Seattle, the Milk Carton Derby, for which entries … Continue reading →

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ACCEPTING PAYMENT IS MENIAL.

Posted on November 3, 2012 by Philip

ACCEPTING PAYMENT IS MENIAL. Just as Houdini had prepared for his trick by research, he had also prepared for dealing with the question of payment. Craig Brown says: “After it is all over, the Tsar is particularly impressed by the … Continue reading →

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PREDICTING TECHNOLOGICAL CHANGE (COMMENT).

Posted on October 29, 2012 by Philip

PREDICTING TECHNOLOGICAL CHANGE (COMMENT). Whether technological progress consists of many small steps or a few big ones has a lot of significance for how you explain economic growth. I posted several times, starting here, on Professor Robert Gordon’s articles asking … Continue reading →

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INCREMENTAL TECHNOLOGICAL IMPROVEMENT—WATER MILLS AND WIND MILLS.

Posted on October 28, 2012 by Philip

INCREMENTAL TECHNOLOGICAL IMPROVEMENTS—WATER MILLS AND WIND MILLS. Usher also presented the development of the water mill and the wind mill over many centuries as the product of the efforts of generations of craftsmen, rather than a single event. Gordon’s review … Continue reading →

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INCREMENTAL TECHNOLOGICAL IMPROVEMENTS—THE PRINTING PRESS.

Posted on October 28, 2012 by Philip

INCREMENTAL TECHNOLOGICAL IMPROVEMENTS—THE PRINTING PRESS. We tend to think of the invention of movable type printing as a single event (that is, Johannes Gutenberg made the invention in about 1450.) It’s taken me a lot of years to realize the … Continue reading →

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THE HURRICANE AND ELECTION DAY.

Posted on October 26, 2012 by Philip

THE HURRICANE AND ELECTION DAY. Three days ago, I posted on the problems Connecticut was going to have to be ready for Election Day because of computer problems. I also said that I think that voting problems arise because people … Continue reading →

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THE 2012 NOBEL PRIZE—KIDNEY TRANSPLANTS.

Posted on October 25, 2012 by Philip

THE 2012 NOBEL PRIZE—KIDNEY TRANSPLANTS. I hope that my horseback explanation of the matching model is correct. If not, in addition to the Economist article, here is the official statement of the Swedish committee which accompanied the award. My nephew … Continue reading →

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