Homines libenter quod volunt credunt
Posted in Institutions on Mar 22nd, 2012
Radley Balko shares a thought: Want to guess how many Lower Merion School District Officials did prison time? Not a single one. They weren’t even charged, not even with misdemeanors. And of course the taxpayers, not the spying school officials, paid the settlement. Click through to see the story.
Posted in Macroeconomics, Price System, You Can't Have it Both Ways on Mar 22nd, 2012
The foundation of modern macroeconomic theory (yes theory, the empirical work is scant) is based on the idea that prices (nominal) are sticky. Simplifying greatly, if you adhere to a classical view of the world where all agents have perfect information (no good economist assumes this of course, but it makes a nice straw man […]
