Category Archives: Economics

SURSTROMMING AND THE LAW.

SURSTROMMING AND THE LAW. Surstromming is banned by airlines, and Grundberg says that there is a possible $50,000 fine for a can of surstromming that opens in a cabin or cargo bay. Presumably the airlines are worried about the powerful … Continue reading

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THE JOYS OF FERMENTED HERRING—SURSTROMMING.

THE JOYS OF FERMENTED HERRING—SURSTROMMING. A year ago, after I had posted on the popularity in the Roman Empire of garum, which was a sauce made from rotten fish, Dick Weisfelder called my attention to surstromming, a Swedish delicacy made … Continue reading

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A REASON WHY “DUD MORTGAGES” WERE NOT CLEANED UP ONE MORTGAGE AT A TIME.

A REASON WHY “DUD MORTGAGES” WERE NOT CLEANED UP ONE MORTGAGE AT A TIME. I posted in early 2009 that “[banking] problems can be finally resolved until the snarl of complicated mortgages and toxic securities is unwound. The assets will … Continue reading

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STEALING MAPLE SYRUP—LOTS OF IT.

STEALING MAPLE SYRUP—LOTS OF IT. I have posted about the theft of a cast iron building (here), the burning down of brick buildings to steal the bricks (here), and organized rings which steal used grease (here). This article on Bloomberg … Continue reading

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TIME CONSTRAINTS AND THE RICH.

TIME CONSTRAINTS AND THE RICH. As I posted here, I still remember how in my first class in economics, I was struck by Meyer Burstein’s statement that we would be studying the allocation of scarce resources among competing wants. Usually, … Continue reading

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“THE CHERISHING OF YOUR LIFE IS PART OF TRUE HAPPINESS.”

“THE CHERISHING OF YOUR LIFE IS PART OF TRUE HAPPINESS.” McCloskey’s answer to her question that I posted on yesterday is categorical. Of course you wouldn’t exchange your life for a happier one. She says: “The cherishing of your life … Continue reading

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WOULD YOU EXCHANGE YOUR LIFE FOR A HAPPIER ONE?

WOULD YOU EXCHANGE YOUR LIFE FOR A HAPPIER ONE? Shortly after reading Samuel Brittan’s statement that he had a “sneaking sympathy” for the happy pig, I came across this essay in the New Republic (June 8, 2012) by Deirdre McCloskey … Continue reading

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A REFLECTION ON THE EXAMINED LIFE.

A REFLECTION ON THE EXAMINED LIFE. I try to read everything I come across by Samuel Brittan. He wrote about happiness studies in the Financial Times (August 3), and observed that: “John Stuart Mill famously said that it is better … Continue reading

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“PRIVILEGE-SEEKING”—NOT “RENT-SEEKING”.

“PRIVILEGE-SEEKING”—NOT “RENT-SEEKING”. Economics has some jargon that is confusing. One of my pet peeves is the phrase “rent-seeking”. To most people it would seem to have something with landlords and tenants. In fact, “rent-seeker” is one of the harshest names … Continue reading

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MY VALUABLE HAIR.

MY VALUABLE HAIR. My hair turned white sometime in the 1980’s. I remember visiting Colonial Williamsburg then and being singled out at the wig shop. The actor in charge of the shop looked at the tourists in the shop and … Continue reading

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