The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. – F.A. Hayek
Posted in Behavior on Aug 31st, 2007
My neighbor’s wife has one of those sun tans which looks like she could be sliced up and sold as an expensive accessory for Gucci. Who am I to judge? I’m not. I am only interested because her husband is the area’s most well-respected oncologist.
Posted in Immigration on Aug 29th, 2007
Whose job did this guy take away? And should it matter if he did? Congratulations Bernard!
Posted in Market Failures, You Can't Have it Both Ways on Aug 28th, 2007
Because the economics textbooks point out instances when market outcomes seem to produce outcomes that are less than optimal, people with a preference for government intervention use these as justifications for any and all government actions in the economy. I would almost acquiesce to these sorts of desires if those proponents consistently applied this logic. [...]
Posted in Economists on Aug 24th, 2007
I just received my membership renewal form from the American Economic Association. I’ve never bothered to look to closely at it, but just noticed that membership fees to the AEA are means-tested! To be a regular member, they ask: Annual income of $47,000 or less →$64 Annual income of $47,000 to $62,000 →$77 Annual income above $62,000 →$90 I [...]
Posted in Education on Aug 22nd, 2007
The 2007 fiscal year was one of the best ever for Harvard University’s endowment, which grew in overall value to $34.9-billion from $29.2-billion the previous year, Harvard officials announced on Tuesday. Harvard Management Company, which invests and manages the institution’s endowment — the largest educational fund in the world — posted a 23-percent return on [...]
Posted in Education on Aug 20th, 2007
A teacher’s union in Peru was protesting a law requiring that teachers be tested and held accountable for competency. Read more here.
Posted in Environment on Aug 17th, 2007
This ran in the August 20th edition of our local paper. To the Editor The Berkshire Eagle 75 South Church Street Pittsfield, MA 01201 Dear Editor: I’d hate to blow out the candles of the celebration recognizing the powering up of the new Jiminy Peak wind turbine (“Jiminy Turbine Powered Up“, 8-16-07), but wind [...]
Posted in Flotsam and Jetsam on Aug 16th, 2007
We at AIER hold that in the quest for knowledge, it is fallacious to seek truth. The best that can be done from a scientific perspective is to proffer what are called “warranted assertions” and that when new evidence comes to bear, these assertions can and should be updated. Despite my respect for that position, [...]
Posted in Health Care on Aug 16th, 2007
Well, when a restuarant is less concerned about food costs than legal fees … The way I figure my cost is not the cost of the actual item, but what it costs me to keep Arnold’s running year to year,” Nickerson said. “And it’s having less and less to do with the cost of the [...]
Posted in Environment on Aug 15th, 2007
The conclusion of Jesse Ausubel’s excellent paper should be mandatory reading for grade and high school science students, who are sure to be getting sold a different bill of goods. Because hydrogen is much better stuff for burning than carbon, the hydrocarbons form a clear hierarchy. Methane (mjr: natural gas) tops the ranking … [...]
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