Sunday, November 20, 2016

Allan Holdsworth quartet

Music for a Sunday morning. One of my favorite guitarists: A. Holdsworth. Never plays a tune in his repertoire the same way.

Data hubris?
Every five minutes a satellite captures images of China’s biggest cities from space. Thousands of miles away in California, a computer looks at the shadows of the buildings in the images and draws a conclusion: China’s real estate boom is slowing. Traders at BlackRock, the money management giant, then use the data to help choose whether to buy or sell the stocks of Chinese developers. “The machine is able to deal with some of the very complex decisions,” said Jeff Shen, co-chief investment officer at Scientific Active Equity, BlackRock’s quantitative trading, or quant, arm in San Francisco.

Ten Years After - Good Morning Little School Girl - 8/4/1975 - Winterland

Who digs the late Alvin Lee of TYA these days? Unfortunately not many!

Saturday, November 19, 2016

Led Zeppelin: No Quarter 5/24/1975 HD

I never get bored of this interplay between John Paul Jones and Jimmy Page! Ah to be a teenager in #EastBoston again!

[04] Jeff Beck Band - "A Day in the Life" HD

The masterful Jeff Beck interprets Lennon-McCartney so brilliantly.

Thursday, October 27, 2016

On my reading pile: Peter J. Boettke & Liya Palagashvili: The Comparative Political Economy of a Crisis

From the abstract:

During times of economic crises, the public policy response is to abandon basic economic thinking and engage in ‘emergency economic’ policies. We explore how the current financial crisis was in part caused by previous emergency economic measures. We then investigate the theoretical limitations of emergency economic responses. We argue that these responses fail to take into consideration the practical conditions of politics, and thereby making them unsuitable to remedy the problems of a crisis. Lastly, we provide a preliminary analysis of the consequences resulting from emergency economic policies initiated in response to the 2008 financial crisis.

When Harper's Magazine was interesting

Tom Wolfe "Stalking the Billion-footed Beast: A Literary Manifesto for the New Social Novel"

Why I Am Not an Austrian Economist; Bryan Caplan

I consider this piece by Bryan Caplan a classic.

"I do not deny that Austrian economists have made valuable contributions to economics. Rather, as the sequel will argue, I maintain that:
(a) The effort to rebuild economics along foundations substantially different from those of modern neoclassical economics fails.
(b) Austrian economists have often misunderstood modern neoclassical economics, causing them to overstate their differences with it.
(c) Several of the most important Austrian claims are false, or at least overstated.
(d) Modern neoclassical economics has made a number of important discoveries which Austrian economists for the most part have not appreciated."
Read the whole thing.

More readings in Economics

James M. Buchanan and Viktor J. Vanberg, "The market as a creative process."

Robert Samuelson, "June Journalism 101," September 18, 1996, The Washington Post.

Recent Electricity Market Reforms in Massachusetts;  A Report of Benefits and Costs

James Bullard, The Rise and Fall of Labor Force Participation in the U.S.  St. Louis Federal Reserve Bank February 14, 2016

Weisang & Awazu, Vagaries of the Euro: an Introduction to ARIMA Modeling 

Paul Krugman,  Ricardo's Difficult Idea

David Henderson Artful Dodger "A Review of Paul Krugman's Depression Economics" Reason Magazine October 1999.

Dani Rodrik, The Past, Present, and Future of Economic Growth 

Bluestone & Bourdeaux, Dynamic Revenue Analysis: Experience of the States  More on this topic 

Felix & Watkins. KCFed. "The Impact of an Aging U.S. Population on State Tax Revenues"

Journ-Steff Pischke, The Credibility Revolution in EmpiricalEconomics: How Better Research Design is Taking the Con out of Econometrics 

Paul Pfleiderer,  Chameleons: The Misuse of Theoretical Models in Finance and Economics

Charles Frank, The Net Benefits of Low and No-Carbon Technologies, Brookings

Saturday, July 09, 2016

"Is Britain becoming too diverse to sustain the mutual obligations behind a good society and the welfare state?"

Thoughts about post-Brexit Britain. The anxiety was noted back in 2004, by David Goodhart
The diversity, individualism and mobility that characterise developed economies – especially in the era of globalisation – mean that more of our lives is spent among strangers. Ever since the invention of agriculture 10,000 years ago, humans have been used to dealing with people from beyond their own extended kin groups. The difference now in a developed country like Britain is that we not only live among stranger citizens but we must share with them. We share public services and parts of our income in the welfare state, we share public spaces in towns and cities where we are squashed together on buses, trains and tubes, and we share in a democratic conversation – filtered by the media – about the collective choices we wish to make. All such acts of sharing are more smoothly and generously negotiated if we can take for granted a limited set of common values and assumptions. But as Britain becomes more diverse that common culture is being eroded.

Saturday, June 04, 2016

Baker signs public access law

Saturday, February 06, 2016

Robert Gordon's magisterial work on economic growth has made it to the top of my reading stack. 

He is becoming one of my favorite economists.  

Here's Ed Glaeser's review from the Wall Street Journal.

Readings in Economics

Frank's selected readings in Economics

Edward C Prescott, "Why Do Americans Work So Much More than Europeans?"

Fabian Christandl, Detlef Fetchenhauer, How laypeople and experts mis-perceive the effect of economic growth

Understanding Say's Law of Markets Steve Horwitz

Paul Rubin Folk Economics

Peter Klein's review of Mirowski's Against Mechanism: Protecting Economics from Science Summer 1990 Austrian Economics Newsletter

David Friedman Price Theory an Intermediate Text Chapter 2

Six ways to separate lies from statistics Stevenson and Wolfers May 1, 2013

David Bowie at his most mysterious.

Hat tip to PitchFork.