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Monthly Archives: January 2009
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
Posted in Economics
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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
Posted in Clippings, Economics
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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
Posted in Clippings, Finance and Investments
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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
Posted in Clippings, Economics
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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
Posted in Clippings, Economics
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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”.
Posted in Clippings
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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
Posted in Clippings, Economics
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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
Posted in Clippings, Random
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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
Posted in Clippings, Economics
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