The first time I thought about the relationship between quantity and price, I was a teenager working at the same job that taught me about transaction costs in labor markets. […]
I have long been a fan of the writer, statistician, and “flaneur” of financial markets Nassim Nicholas Taleb. His eye for the unseen and his heavy emphasis on sample selections […]
Statistical relations can be tenuous, and statistics can be fishy. Perhaps with time, Harvey’s yield curve relation will go the way of pedestrians and South Dakota lawyers — a near-perfect correlation dissolving into dust.
Bitcoin’s returns over the last decade have dominated every other asset we can compare it with, but that still doesn’t tell us what we need to know about the future viability of this extraordinary development in human monetary affairs.
There are a lot of good economic lessons to be learned from popular culture. Perhaps that’s not surprising, as the subject matter of economics is ingrained in our very humanity […]
Carbon taxes do alleviate some negative externalities that we might want to counter — but they come with a nasty drawback (and getting them in place requires an inefficient and opaque political process) that no caring person would want to impose on the poorest of us, namely that basic necessities become more expensive.
Carbon emissions are not, contrary to what many economists and non-economists seem to believe, approaching the idea of a pure externality; their costs are only partially external to the main transaction.
When I give my sister a nonfiction book for Christmas, neither of us presumes that she’ll use it in payments for food, rent, clothes, travel, or something else that she desires. Indeed, […]
We meet colorful characters, financial success, and business matches made in heaven — but also ceaseless struggling, heartbreaking losses, friendships, marriages, and partnerships with flourishing beginnings and abrupt endings.
When I got my first summer job, my coworkers and I were paid the same hourly wage. Doing sales and booking in three languages for a shipping company, we spent […]