Relevant and even prescient commentary on news, politics and the economy.

Vague Thoughts on The Theory of the Firm, the Business Cycle and Kurt Vonnegut

Robert Waldmann Don’t say you weren’t warned. I am trying to understand the effects of the switch from mechanically controlled machine tools to electronically controlled machine tools and then to digitally controlled machine tools. I don’t really know much about machine tools, but, then again, I don’t know much about firms or the business cycle […]

Mashup Post: Two Marks

No original content here, just two posts that make even more sense together: Mark Thoma proves he’s an economist (not just an econometrician) by reminding everyone of the Opportunity Cost of the Oughts from a long-term perspective*:((Rdan…Attribution of the quote is in error due to a format error at Mark’s…the original is from Joseph Stiglitz […]

CGI Yesterday: Interlude

I don’t have my notes all together from yesterday, but Lance Mannion hits most of the second half of the day with this, this, this, and this post. Especially check out the last one. One panelist’s description yesterday of putting glasses on a child yesterday was as if it were directly out of the opening […]

CGI 2: Opening Ceremony / Initial Plenary Session (1 of 2)

This one’s going to be long because a lot of general themes get presented. Those looking for the shorter version may want to just go to the website and watch the videos.* William Jefferson Clinton (WJC) introduces the proceedings by giving a background on the Clinton Global Initiative (CGI). CGI began in 2005, and required […]

CGI 1: Barry O. coming soon to a room somewhat near me

The one thing that got both daughters excited last night was “You’re going to see the President!” Didn’t have the heart to tell them it would probably be from a separate room. And, indeed, space upstairs maxed one. It’s 3:40; Barack H. Obama is scheduled to speak in about twenty minutes, though I might bet […]


It’s true that I have been a bit nastier than usual with some posts (especially this one and this one—though the latter was rather justified by preceding events, as Tom detailed.) The sight of economists who should know better saying “Ewww, tariffs” in the manner of second grade boys who think girls have “cooties” is […]

A fable: The Guitar Player who sold his gear or, Bruce Henderson vs. Gordon Moore

by divorced one like Bush Gather all around the camp fire and enjoy your marsh mellow toasting as I tell you the fable of the “The Guitar Player who sold his gear”. Long ago in a far away land of rock and roll there was a young man who played well. Not great, wasn’t going […]

Mark Cuban Makes the Key Point

Ken Houghton remembers that Warren Buffett famously groused that he pays a lower percentage of his income in taxes than his secretary. Or the person who will come up with an actual cure for a cancer. Mark Cuban takes this one step further, pointing out the obvious: if we want to promote investment, “we should […]

I’m Not Here

Nor is Cate Blachett playing me. (Nor, unfortunately, am I using this as an opportunity to post a picture of Ms. Blanchett in an attempt to troll for links. You want that, go to John Carney.) Taxes are always fun, and there’s a few other things going on. But, really, let me quote the Internet’s […]