Over at Simple Justice, Gritsforbreakfast left this comment: My college major was economics, and I was downright angry when, after learning all the theory, it became clear that nearly every "assumption" economists said make free markets "work" was actually, demonstrably false. E.g., people have perfect information, make rational choices that maximize their self-interest, etc.. … [Read more...] about Why I Love Economics
Crashes, Chases, Economic Standup, and an Important Career Tip
Random shots around the web: Gideon has a great crash reel. Here's a pretty good top-ten list of movie car chases. Scott has an explanation of Mankiw's 10 Principles of Economics. Important career tip: Don't ask your employer to get you a hooker. (Hat tip: Randozza) … [Read more...] about Crashes, Chases, Economic Standup, and an Important Career Tip
Costs and Benefits of Being #1 at Incarceration
Scott at Simple Justice is always a source of fascinating issues, and recently he wrote about the Pew report on incarceration: The Pew report has been the subject of intense interest around the blawgosphere. This is the report that tells us that we finally reached a 1 in 100 incarceration rate (and far higher for minorities) and the cost is blowing the … [Read more...] about Costs and Benefits of Being #1 at Incarceration
RAV4 Blogging – Why a Tachometer?
Earlier this evening I realized I didn't know why my RAV4 has a tachometer to show engine RPM. My Camry had one too. I don't think I ever look at it except to tell if the engine is already running. What is that doing for me, really? With a manual transmission, the tachometer could prevent over-revving the engine and help me judge shift points, but the automatic transmission … [Read more...] about RAV4 Blogging – Why a Tachometer?
For the Checkpoint Lover in Every Child
Check out the Security Check-in toy set from Playmobil. Here's the description: Every single smuggler is caught at the security check-in. With a modern X-ray machine every item not allowed on board is detected. At the same time, the passengers have to pass the passenger check-in under the watchful eyes of the security staff. Only then can they start in their hard-earned … [Read more...] about For the Checkpoint Lover in Every Child