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Thursday, December 22, 2011
Wednesday, December 21, 2011
Tuesday, December 20, 2011
Holiday Gift Suggestions
If you are looking for gift ideas for that special econonerd in your life, let me suggest a couple of books I recently enjoyed:
Both are intelligent, well written, and fun.
Both are intelligent, well written, and fun.
Monday, December 19, 2011
A Family Holiday Trip to NYC
I just returned from New York City. My wife, three kids, and I went down to the city for a couple days, mainly to see the Broadway show How to Succeed in Business Without Really Trying before Daniel Radcliffe and John Larroquette step down from the lead roles.
It was much fun. Daniel Radcliffe in particular was fantastic. He provided the Mankiw family much consumer surplus.
It was much fun. Daniel Radcliffe in particular was fantastic. He provided the Mankiw family much consumer surplus.
Sunday, December 18, 2011
Saturday, December 17, 2011
Are economists selfish?
Yoram Bauman takes up the question in a NY Times opinion piece, based on his research. In essence, he finds that being an economics major and taking classes in economics are negatively correlated with how much students donate to two particular charities: WashPIRG and Affordable Tuition Now.
I agree with Yoram's concluding sentence: "Learning about the shortcomings as well as the successes of free markets is at the heart of any good economics education, and students — especially those who are not destined to major in the field — deserve to hear both sides of the story."
Yet I am not persuaded by the evidence he gives that economics classes are failing to do that. Maybe, having heard both sides of the story, the students make better decisions, just not the ones that Yoram appears to approve of! Perhaps the students were persuaded by this famous insight: "By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it."
And no, that is not Gordon Gekko.
I agree with Yoram's concluding sentence: "Learning about the shortcomings as well as the successes of free markets is at the heart of any good economics education, and students — especially those who are not destined to major in the field — deserve to hear both sides of the story."
Yet I am not persuaded by the evidence he gives that economics classes are failing to do that. Maybe, having heard both sides of the story, the students make better decisions, just not the ones that Yoram appears to approve of! Perhaps the students were persuaded by this famous insight: "By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it."
And no, that is not Gordon Gekko.
Wednesday, December 14, 2011
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