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

Darwin Strauss and Popper

Robert Waldmann Neoconservatives have expressed sympathy for “intelligent design theory,” that is, creationism. This is well documented by Ronald Bailey’s article in “Reason on line.” Bailey discusses why neoconservatives might claim they don’t believe in evolution by natural selection even though there is no scientific basis for that view. update: link corrected thanks to VtCodger […]

Justin Fox’s new book: ‘Myth of the Rational Market’

by Bruce Webb Over at TPM Justin Fox is launching a discussion of his new book The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street which feeds right into some discussions we have had here at Angry Bear. So I propose to give his set-up here and then […]

How Much Should I Spend to See a Movie? (In which I channel McMegan)

While the brood was at Mary Poppins, I took advantage of the Academy Awards rules and went to see Revolutionary Road. The incremental cost was subway fare (arguably a sunk cost, since I have old Metro cards) and the $12.50 NYC film ticket price. So that was quite rationalisable; met up with an old friend […]

Proof the Brown M&Ms clause is not an Urban Legend

I don’t feel like talking about economics right now, so let’s talk Rock and Roll. The contract with Van Halen’s legendary “brown M&Ms” rider has been published by The Smoking Gun. And it was there for purely rational reasons: While the underlined rider entry has often been described as an example of rock excess, the […]

What Do Economists Think About When They Think About Rationality?

Fabio Rojas has some questions for economists at Isn’t evolutionary psychology the real challenge to neo-classical rational choice? Isn’t a tool kit of mental functions more plausible and interesting that the utility maximizing model? Isn’t that much more radical than behavioral economics, which is like neo-classical with a cherry on top? Why don’t economists […]