…A serious problem is that it was based on an estimate of the intertemporal elasticity of substitution in consumption (warning you have to pay to read) which was based on…

…at agents.” Retreating agents fired tear gas-type canisters, and agents who arrived subsequently sprayed chemical agents against the protestors who moved toward them. A protester lobbed fireworks toward the agents…

…this antigen should, in principal, be a good therapy. However, as noted above, a lot of the antibody stays in the blood. The Aletheon approach is to make a hyrbrid…

…of production, even though in the “higher stage of socialism” generally labeled “pure communism,” the state is supposed to “wither away.” Capitalism is private ownership of the means of production,…

…of this unforunate puzzle comes in today’s NYT: George J. Tenet and his deputies at the Central Intelligence Agency were presented in August 2001 with a briefing paper labeled “Islamic…

…are in increasingly short supply—but, since Larry Summers has shown his brilliant foresight before and clear has no skin in the game, I am reassured that there is no Principal-Agent…

…the problem. You’ve got to be able to solve the problem. I’m not sure what problem she’s diagnosed that she has in mind. It’s certainly not, for example, that many…

…What about the principal repayment due? Recall again that the payment due is generally the net of the current market price subtracted from the initial principal amount (assumed to be…

…account the principal and the interest-on-the-principal if all things are going according to plan. But, the $1.6 trillion+ owed also includes penalties for being late, the interest associated with the…

…Pretty soon, it surpasses the original loan balance. There are probably worse examples of this occurring. As it is, the non-principal payments are more than twice the original principal. The…