Economics

Gene Expression

Category archives for Economics

On economic growth projections

Alex Tabarrok has the back story on the infamous Paul Samuelson projections about Soviet growth. It gets interesting: Tarshis and Heilbroner were more liberal than Samuelson and McConnell but offered a more nuanced, descriptive and tentative account of the Soviet economy. Why? Levy and Peart argue that they were saved from error not by skepticism…

The bear market rally of 2009?

The Massive Stock Market Rally of 2009 Ends Today: In what the Wall Street Journal calls “a comeback of historic proportions,” the U.S. stock market’s banner year closes later on today. The paper says, “With one trading day remaining in 2009, the Dow is on track for its biggest annual gain since 2003, when it…

On scales of norms

There has been more blogospheric discussion on the topic of my post Doing the right thing, doing the legal thing. Megan McArdle, who started the discussion, has a long post elaborating on her objections to strategic defaults. Steve Waldman has two good posts up. Finally, at The Big Money Daniel Gross concludes: Of course, corporate…

Megan McArdle has a post up where she follows up on her disgust with home owners who “walk away” from their mortgage obligations when they can continue to pay them. In California, and many other states, the bank can’t come after you if you walk away, so if your home is “underwater” then it is…

SAD in Google Trends

I was looking for the term “Depression,” in the economic sense. But look at the clear seasonal trend in search for the term:

Personal genomics bubble bursting?

Changes in the world of personal genomics. Dan MacArthur has the details on 23andMe changing up its offerings, perhaps signalling that the money gush is long over. And deCode is finally dead. Of course, just because the .com bubble burst doesn’t mean that the internet is no longer a part of our lives. New players…

Malcolm Gladwell

First, in The New Republic, Malcolm Gladwell’s Secret Of Success: The first sentence here is a classically Gladwellian assertion about what the rest of us think. The rest of the paragraph consists of, more or less, made up numbers and figures which Gladwell claims constitute a “rule”. Seriously, read these sentences again. Where does he…

The Devil’s Helpers

Two Are Charged With Helping Madoff Falsify Records: Two computer programmers who worked for Bernard L. Madoff’s brokerage firm were arrested on Friday on criminal charges of helping perpetuate his long-running Ponzi scheme. The two men — Jerome O’Hara of Malvern, N.Y., and George Perez of East Brunswick, N.J. — were also sued by securities…

As I gave a nod to statistical tricks and subtle shell games very recently, the material I review subsequently should be viewed with skepticism and caution. A few days ago I also pointed to a paper which describes and models intergenerational transfers of wealth across various societies. In other words, what parents transmit to children.…

Old tricks never die

This critique by Ted Goertzl, Myths of Murder and Multiple Regression, is making the rounds. It made me think of this old apocryphal story: There is a famous anecdote inspired by Euler’s arguments with secular philosophers over religion, which is set during Euler’s second stint at the St. Petersburg academy. The French philosopher Denis Diderot…