Why Big data Won’t Save Central Planners from the Knowledge Problem

Among statisticians, economists, and business executives, “Big Data” is all the rage. Large and detailed data sets that, until recently, couldn’t even be stored on a computer are now managed and analyzed using innovative statistical techniques. Hopes are high that these advances will improve scientists’ ability to predict human behavior. Some enthusiasts even speculate that Big Data will render markets obsolete, enabling central planning of the economy. Big Data is more than a buzzword, but its potential is often wildly overstated. Continue reading “Why Big data Won’t Save Central Planners from the Knowledge Problem”

Edmund Phelps: Find Your Natural Rate of Body Fat This Year

As the New Year inches closer and closer, many of us start rushing to come up with resolutions we wish to achieve in the next year. Some of us want to write more thank you notes. Others want to lose weight. Continue reading “Edmund Phelps: Find Your Natural Rate of Body Fat This Year”

Getting Internet From the Tap

Recently, I dipped my toes into the net neutrality debate. I shared an article pointing out that a graph, tweeted out by a Representative of California arguing in favor of net neutrality, ironically, makes the argument against net neutrality. This graph highlighted the perspective of the average consumer, i.e.—under net neutrality, internet services actually become more expensive. Sharing this article put me directly in the line of fire by some very passionate netizens (net neutrality advocates). Continue reading “Getting Internet From the Tap”

James Heckman: Tinder Dates Gone Wrong

Have you ever gone on a Tinder date that was not what you expected? You immediately swipe right at the sight of an attractive person holding an adorable puppy. But, minutes after showing up at the bar, you find your date is dismissive, rude, and has horrible taste in beer. Sometimes what you see isn’t what you get. When you take a step back, you realize that the things you attributed to the person in the profile picture do not reflect the reality of your date. Continue reading “James Heckman: Tinder Dates Gone Wrong”

Progress In Cuba Thanks To Airbnb. Don’t Stop It.

As the Trump administration considers how to go about “canceling the last administration’s completely one-sided deal with Cuba,” and now closing up the US embassy due to mysterious “sonic attacks,” Airbnb is hoping that it doesn’t scare off the booming business from U.S. tourists. Continue reading “Progress In Cuba Thanks To Airbnb. Don’t Stop It.”