To those who sweat for their daily bread leisure is a longed-for sweet until they get it.
- John Maynard Keynes
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The WSJ has a fascinating article on the economics of bubbles and why it might be rational to support a bubble until it bursts:
Bubbles often keep inflating despite cautions such as Mr. Greenspan's famous warning of "irrational exuberance." Tech stocks rose for more than three years after he said…
By now, there's little to add to the criticism of Donald Kennedy's absurd statement regarding Princeton economist Paul Krugman that:
And yet maybe Krugman is not really an economist -- at least not according to the definition offered more than a century ago by Francis Amasa Walker, the first…
Milton Friedman has passed:
Milton Friedman, the grandmaster of conservative economic theory in the postwar era and a prime force in the movement of nations toward lesser government and greater reliance on free markets and individual responsibility, died today. He was 94 years old.
A spokesman for…
I've been making a lot of quick breads lately - partly it is the season, and they freeze and store well. They make good gifts, good afternoon snacks for the kids, good "Oh, crap, we're just about out of bread and I need it ASAP" solutions and other happy things. Quick breads, for those of you who…