…sold at discounted but still higher prices. Readers have been paying more for James Patterson and Dan Brown, not waiting for the cheaper mass market paperbacks. Consumers trade money for…

…(it being relatively non-rival), for $20,000 each. Forget housing prices. If you want a metric to judge the decline of the NYC-area economy, just consider the decline in bidding even…

UPDATE: Dr. Black twists the knife. The Geithner Plan FAQ is worth reading; it’s a classic example of treating an incomplete market as if it were the entire market. And…

…indefinitely [or at least until I get the price I want in the market], why would the Fed need to buy it, and why would I need the Fed to…

…studies.) An economy is one such organizational grouping of activity. A democracy is another. A “market” is only a labeling of activity. It is one of many relational activities within…

…deregulation of the labor market is not on President Obama’s agenda and has escaped much commentary. Labor-market deregulation boils down to three things: weak unions, weak worker protection laws and…

…a market failure, it cannot be resolved privately. The public sector must get involved. The most illustrative examples of such failures in U.S. financial markets were the frequent financial panics…

Which view of the stock market to you take? On the one hand there is the fundamental interest rate, inflation approach. It says that the market overreacted to the two…

…for talking about the fact that without stabilizing intervention and protective regulation, market pricing–and the kinds of speculation that Duffie praises–tends to lead to market bubbles. The housing markets are…

…when both the world and corporate capital structures were very different from how they look now, can really teach us much about stock-market investing. I don’t believe that the stock-market…