Monthly Archives: January 2009

Juan Enriquez speaks at TED

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Paging peak-oil theorists…

Let’s run a simple thought experiment. The peak-oil theory says that over time, production of crude oil should stabilize and then begin to decline. Since we still expect the demand for oil to increase over time, we must conclude that … Continue reading

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Paul Krugman on the problems of common currency

The pain in Spain… …isn’t hard to explain. Spain was basically Florida, with a housing bubble inflated by both resident and holiday purchases, and now the bubble has burst. But Spain is in worse shape than Florida, for two reasons … Continue reading

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A dispatch from Turkey

From Institutional Investor: Turkey’s Military Pension Fund Reaps Windfall Jonathan Kandell 08 Jan 2009 Despite tensions between Turkey’s generals and the moderate Islamic government, OYAK, the military pension fund, has made the most of the country’s pro-business policies. For emerging-markets … Continue reading

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Eugene Fama should know better

Brad DeLong blasts Eugene Fama for his manifest failure to understand the investment-savings identity: Fama… thinks that “investment” means “growth in the value of the capital stock.” He simply does not understand what the NIPA investment concept is, or that … Continue reading

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Dani Rodrik on stocks vs. flows

Dani Rodrik writes: Suppose you read the following statement: In 2006 the measured economic output of the entire world was around $47 trillion. The total market capitalization of the world’s stock markets was $51 trillion, 10 percent larger…. Planet Finance … Continue reading

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A blast from the past…

…from 1989, to be precise. The band is Noir Désir, and the song is called “Aux sombres héros de l’amer”.

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Objective measurement of subjective well-being

Justin Wolfers writes on Freakonomics: Let’s see how it checks out, updating my earlier analysis of daily data on life satisfaction through 2008, courtesy of the Gallup-Healthways Well-Being Index… Not only has happiness declined during this recession, it has declined … Continue reading

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BMJ goes myth-busting

The British Medical Journal recently did some serious myth-busting (see part one and part two). Apparently, all of the following are myths: Sugar causes hyperactivity in children Suicides increase over the holidays Poinsettia is toxic Not wearing a hat causes … Continue reading

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Of ignorance and knowledge

Shamelessly copied from Obsidian Wings: What Do You Mean ‘We’, White Man? Robert Samuelson has an infuriating op-ed in today’s Washington Post. It’s called “Humbled By Our Ignorance”: “It’s the end of an era. We know that 2008, much like … Continue reading

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