Noted to Aid Your Morning Procrastination for September 24, 2013
- "The in het ootje method of trade required the seller to pay a commission independent of the seller’s acceptance or refusal of the bid (typically the equivalent of a round or two of drinks), which placed a premium on accepting a decent bid, further fueling the market": James Narron and David Skeie: Crisis Chronicles: Tulip Mania, 1633-37
- "And Mrs. Claypool's checks will probably come back in the morning": *Buce: Underbelly: Groucho & Co
- "When participants noticed disparity between how much they perceived an asset to be worth and the rate of transactions for that asset, they began making poor business decisions and bubbles started to form in the market…. Peter Bossaerts…. 'It's group illusion. When participants see inconsistency in the rate of transactions, they think that there are people who know better operating in the marketplace and they make a game out of it. In reality, however, there is nothing to be gained because nobody knows better': Jen Middleton: Drivers of financial boom and bust may be all in the mind, study finds
- "The American health-care system is not merely the only one in the advanced world that’s closed off to a large share of the population; it’s also the most expensive by far": Jonathan Chait: The Republican Plot to Kill Obamacare
- "As a law student at Harvard, he refused to study with anyone who hadn't been an undergrad at Harvard, Princeton, or Yale. Says Damon Watson, one of Cruz's law-school roommates: 'He said he didn't want anybody from 'minor Ivies' like Penn or Brown'": Jason Zengerle: Ted Cruz: The Distinguished Wacko Bird from Texas
- "For all the ways [Andrew] Sullivan has made back a little ground from his fifth column BS and giving Betsy McCaughey a platform to lie about health care reform, it seems like the guy just cannot manage so much as one reasonable post about science…. What to think?… Ask a columnist who knocks global warming for a living! Lacking knowledge about climate climate change must give the guy some trenchant insights about evolution": Tim F.: …because someone is wrong on the internet
And:
- Robert Engel: Lehman Was Not Alone--Measuring System Risk in the 2008 Crisis
- Felipe Calderón and Nicholas Stern: The New Climate Economics
- David Keohane: A Merkel rout
- Joseph Cotterill: Cows as safe assets
- Jim McDonald: Near Global Thermonuclear War in 1961 Confirmed
Plus: Short:
Paul Krugman: The Pain In Spain Is Not Hard To Explain (Wonkish) | Teavana | Cardiff Garcia: Fed’s new solve-everything reverse repo facility set for a tryout | Doug Henwood: On Panitch & Gindin and American decline | C.R.: Economic history: When did globalisation start? | Paul Krugman: Free to Be Hungry |
Plus: Long:
