Recently a friend and I were ranking creepiest love songs. The beautiful, but haunting “Hallelujah” by Jeff Buckley was mentioned as a runner-up. I suggested that really anything by the ever-angsty Death Cab for Cutie qualified. But we ended up agreeing that “Every Breath You Take” by the Police takes the cake. He may only … Continue reading Every Breath You Take: Smith’s Creepy, Yet Impartial Spectator
By: Alex Kanode and Kevin D. Gomez scene/ “He’s been complaining about not having any money and then he goes and buys a brand new Nissan truck,” my friend asks. “He's acting irrationally!” The economist responds, “Well, his stated preferences are obviously different from his revealed preferences. His budget constraint must be higher than we … Continue reading Sh*t Economists Say Part 1
One might ask, “But how? Aren’t profits the result of shrewd business deals and wise choices by [greedy] CEOs and shareholders?” “Maybe, but probably not.” Economics is claimed to be married to the principle that people are “profit-maximizing”. I admit that I am guilty of furthering this notion. What I mean is that they behave … Continue reading In a World of Stupid People, Profits Will Still Exist
Alex: No! I was right! ….A year ahead of time. Clearly, I was just predicting the future. Paul Romer is a Nobel Laureate for “integrating technological innovations into long-run macroeconomic analysis.” Remember when I talked about the impact of innovations in South Korea in our 2017 predictions? How they were on the cutting edge with … Continue reading We Got It Wrong: Paul Romer and William Nordhaus share the 2018 Nobel Prize in Economics.
The Nobel Memorial Prize in Economic Studies is awarded on Monday, October 8, 2018, and your favorite commentators from ReasonablEconomics are here to give their predictions for who will take home the prize, glory, and potential $1.4million. Kenzi: My pick for the 2018 Nobel Prize goes to none other than, Daron Acemoglu for institutional analysis … Continue reading Who’s going to win the Nobel Prize: Our Picks… In Case You’re Interested