Memos from Howard Marks. Addendum, June 13: There’s been a lot of response since the memo that follows was originally published on May 26.
In the discussions that have ensued, I realized that I should have led with something like this: Ultimately, economics is the study of choice. Because choices range over every imaginable aspect of human experience, so does economics. . . . How do individuals make choices: Would you like better grades? More time to relax? We would always like more and better housing, more and better education – more and better of practically everything.
If our resources were . . . unlimited, we could say yes to each of our wants – and there would be no economics. Our unlimited wants are continually colliding with the limits of our resources, forcing us to pick some activities and to reject others. Because of the above, we make economic choices every day. Everyone, that is, except for politicians. How LTCM Approached The Edge of the Abyss. More Was Less and Less and Less. ID_Australia.pdf. Small Entrepreneur & Online Home Business ideas // SnapMunk. Why Don’t People and Institutions Do What They Know They Should? by David M. Cutler. Harvard University - Department of Economics; National Bureau of Economic Research (NBER)2010 American Economic Association, Ten Years and Beyond: Economists Answer NSF's Call for Long-Term Research Agendas Abstract: I propose as a central question for the social and behavioral sciences the following topic: why do people and institutions not do things that are so obviously in their self-interest, even when they want to do so?
We have numerous examples of this phenomenon, from individual behavior such as seatbelt use and medication adherence, to firm outcomes such as quality improvement or cost reduction. The ability to encourage what people know to be right is central in many policy debates, including the recent health reform discussion in the United States. A Complete Theory of Human Behavior by Andrew W. Lo. Massachusetts Institute of Technology (MIT) - Sloan School of Management; National Bureau of Economic Research (NBER)September 30, 2010 American Economic Association, Ten Years and Beyond: Economists Answer NSF's Call for Long-Term Research Agendas Abstract: I propose the following grand challenge question for SBE 2020: can we develop a complete theory of human behavior that is predictive in all contexts?
The motivation for this question is the fact that the different disciplines within SBE do have a common subject: Homo sapiens. Ten Years and Beyond: Economists Answer NSF's Call for Long-Term Research Agendas (Compendium) by Charles L. Schultze, Daniel H. Newlon. Charles L.
Schultze Brookings Institution Daniel H. Newlon American Economic AssociationJuly, 15 2011. Economic Principals. The End of Alchemy: Money, Banking, and the Future of the Global Economy (Norton, 2016), by Mervyn King America's War for the Greater Middle East: A Military History (Random House, 2016), by Andrew Bacevich Ronald Reagan: The Fortieth President (Times Books, 2016), by Jacob Weisberg.
A Wealth of Common Sense - Personal Finance, Investments & MarketsA Wealth of Common Sense. Thoughts On Economics. Posts are by authors of papers published in the RWER. Anyone may comment. Economics Op-Ed Articles. Global Economics - Nouriel Roubini. Nouriel Roubini is the Co-Founder, Chairman and Chief Economist of Roubini Global Economics, an independent, global macroeconomic research firm.
The firm’s website, Roubini.com, has been named one of the best economics web resources by BusinessWeek, Forbes, the Wall Street Journal and the Economist. He is also a professor of economics at New York University’s Stern School of Business. Dr. Roubini has extensive policy experience as well as broad academic credentials.
From 1998 to 2000, he served as the senior economist for international affairs on the White House Council of Economic Advisors and then the senior advisor to the undersecretary for international affairs at the U.S. Dr. Economic News, Analysis, and Discussion. Center for Economic and Policy Research. The Center for Economic and Policy Research (CEPR) is an economic policy think-tank that was founded in 1999 by economists Dean Baker and Mark Weisbrot. It has been described as both progressive and left-leaning. CEPR is based in Washington, DC.
The organization states that it aims "to promote democratic debate on the most important economic and social issues that affect people's lives. " Personnel End of Loser Liberalism. The Center for Economic and Policy Research. What do you think should be considered “middle class”?
Use CEPR's Middle Class and Middle Income Calculator to select the low and high percentile limits of the middle class, for both household and personal income, using the Current Population Survey’s March 2015 data. When Do High-Income Earners Stop Paying the Social Security Payroll Tax? This calculator can show when various wage incomes, if spread evenly throughout the year, reach Social Security tax freedom day — the last day when it’s subject to any Social Security taxes. It’s important to note that this only applies wage income, and not other types of income (e.g. investment income). CEPR Budget Calculator places specific tax or spending numbers in the context of the total U.S. budget. The Social Security Benefit Calculator estimates your family monthly income during retirement and compares it to other households in your county with similar demographics—your race, age, and marital status.
SSRN id1905625. c2036. Fast Capitalism.