Our economy is geared, above all, to achieving growth.
Here’s an interesting indicator: it’s called the Surprise Index. Calculated by the economists at MFC Global Investment Management, it quantifies in one measure the extent to which U.S. economic indicators exceed or fall short of consensus estimates.
IT SEEMS so unfair. Most Asian economies have been models of prudence. While American and European households were borrowing up to the hilt, Asian ones were tucking away their savings. While rich-country banks were piling into ever-riskier assets, Asian banks kept their holdings of such assets small.
Just because the Internet makes it possible to offer a near-infinite inventory of goods for sale does not mean that consumers will start wanting more obscure items in any great numbers. That is the conclusion Harvard Business School associate professor Anita Elberse comes to in a recent article in the Harvard Business Review that takes on some of the sacred cows of the Long Tail theory.
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[qi:078] Jason Calacanis launched yet another discussion of the future of the web with his official definition of web 3.0 , in which web 2.0 cake is spread with a liberal frosting of people, but not just any people — “gifted” people. Aside from its introduction of magnet-school speak into tech talk, this definition is curious in that it mentions layering.
In the spirit of sharing information, Don Tapscott and Anthony D.
I have talked in length about how del.icio.us and furl bookmarklets can be improved - now I want to talk about another similar service that don't even provide a bookmarklet.
Government failure (or non-market failure ) is the public-sector analogy to market failure and occurs when government intervention causes a more inefficient allocation of goods and resources than would occur without that intervention. In not comparing realized inadequacies of market outcomes against those of potential interventions, one writer describes the "anatomy" of market failure [ 1 ] as providing "only limited help in prescribing therapies for government success." [ 2 ]
By: John Mauldin | Fri, Nov 17, 2006
Sun, 08 Nov 2009 00:46:19 “ Priced and Unpriced Online Markets ” by Harvard Business School professor Benjamin Edelman.
Outline 0. Foreword
What Everyone Should Know About Economics and Prosperity by James D. Gwartney and Richard L.
The Wealth of Networks: How Social Production Transforms Markets and Freedom by Yochai Benkler, Yale University Press
The parable of the broken window was introduced by Frédéric Bastiat in his 1850 essay Ce qu'on voit et ce qu'on ne voit pas ( That Which Is Seen and That Which Is Unseen ) to illustrate why destruction, and the money spent to recover from destruction, is actually not a net-benefit to society. The parable , also known as the broken window fallacy or glazier's fallacy , demonstrates how opportunity costs , as well as the law of unintended consequences , affect economic activity in ways that are "unseen" or ignored.