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The 10 *Really* Best Economics Blogs : Economics : Business
by C.R. | LONDON MOST economists agree that fossil-fuel subsidies are a bad idea. They promote a misallocation of resources in the economy, namely, the over-consumption of fossil fuels. They can be a burden on the public finances. What's more, this waste increases global carbon emissions. Some countries have already wised up to the foolhardy nature of energy subsidies and have sought to trim them back.
Street Sweep - Fortune Finance: Hedge Funds, Markets, Mergers & Acquisitions, Private Equity, Venture Capital, Wall Street, Washington Apparently Bernie Madoff wasn't the only bad apple at Nasdaq. In the latest shining moment for the U.S. stock exchanges, the Securities and Exchange Commission on Thursday charged Donald Johnson, a former Nasdaq managing director, with ripping off investors to the tune of $755,000 by insider trading ahead of the release of corporate press releases. Johnson, you will be impressed to learn, was in charge through October 2009 of the Nasdaq's "market intelligence" desk, which is surely a misnomer but seems in any case to have afforded him with a lot of info he used to trade profitably on outfits like United Therapeutics (UTHR). Fearless leader The SEC has come under heavy fire in recent years for its failure to nab Madoff, a three-term Nasdaq chairman in the 1990s, before he frittered away $20 billion in the biggest-ever Ponzi scheme. But the agency is doggedly trying to restore its good name by putting really catchy quotes in its press releases, an effort that was much in evidence Thursday.
Megan McArdle - Authors
Personal Finance News & Latest Personal Finance Headlines - DailyFinance.com
The other day someone — I don’t remember who or where — asked an interesting question: when did it become so common to disparage anyone who hasn’t made it big, hasn’t gotten rich, as a “loser”? Well, that’s actually a question we can answer, using Google Ngrams, which track the frequency with which words or phrases are used in books: Sure enough, the term “losers” has become much more common since the 1960s. And I think this word usage reflects something real — a growing contempt for the little people. This contempt surely isn’t limited to Republican politicians. Still, it’s striking how unable they are to show any empathy for people who are just doing their best to make a modest living.
Jared Bernstein is a senior fellow at the Center on Budget and Policy Priorities in Washington and a former chief economist to Vice President Joseph R. Biden Jr. Many War on Poverty analyses, including my own, invoked increased inequality as a factor keeping poverty rates higher today than would otherwise be the case. Many commenters, however, seemed suspicious of this link between poverty and inequality, and as I look back at much at what’s been written, my own piece included, I see it was left largely unexplained (I wrote that “by steering any given level of economic growth away from the low-income families,” higher inequality “leads to higher poverty” — which sounds a bit cryptic, I grant you). So let me remedy that omission. This chart below by the poverty scholar Sheldon Danziger has a few moving parts to it, but I think it helps get at the underlying relationship between poverty and inequality.
Hedge Fund Advertising Off to a Slow Start, Survey Finds Only a fraction of hedge funds and private equity firms have even registered under a new statute that gives them the ability to broadly solicit capital. Read more… TPG and Others Said to Agree to Invest in Airbnb
One of the most famous and funny Monty Python skits is the “Four Yorkshiremen.” Four cigar-smoking, tux-wearing swells recount their childhood and try to top each other with stories of hardship. One says he used to live in a single room with 26 others. The Wealth Report
By Michael S. Derby Federal Reserve Bank of St.
World Affairs 1914 Revisited? Joseph S. Nye 1914 Revisited?
The challenge of isolating a pituitary hormone ‘makes finding a needle in a haystack seem easy’ thing for humans? Dr. Li himself is reluctant to speculate along these lines, but other scientists are willing to voice high hopes about the potential human applications. At the moment, perhaps the most urgent goal is to end the shortage of available HGH. The only current source of supply is the human pituitary, removed after death. Kantoos Economics
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Australia Model Curbs Speed as CEO Says U.S. Too Far Gone (Bloomberg) In Australia, where high-frequency trading firms are half as pervasive as in the U.S., the head of the biggest stock exchange has a message for Americans who would rein them in: forget it. “The way the U.S. market structure has been set up creates serious problems,” Elmer Funke Kupper, the chief executive officer of Sydney-based ASX Ltd., told Bloomberg News on the sidelines of a conference March 24. Efforts to rectify that are “very late and unlikely to succeed,” he said.
One of the most common fallacies in the economics blogosphere — and elsewhere — is what I call “devalue and dismiss.” That is, a writer will come up with some critique of another argument, let us call that argument X, and then dismiss that argument altogether. Afterwards, the thought processes of the dismisser run unencumbered by any consideration of X, which after all is what dismissal means. Sometimes “X” will be a person or a source rather than an argument, of course. The “devalue” part of this chain may well be justified.
Podcast On today's show, we follow up on a few of the stories we did in 2013. Radio
Steven D. Levitt is an economist. Stephen J. Dubner is a writer. They co-authored Freakonomics
Rortybomb [I'm moving blogs - check out the Next New Deal Rortybomb blog, here is the new rss feed, and here is this post over at the new site. I move over entirely Wednesday, and will cross post until then.] What should liberal wonks make of the conservative movement’s abandonment of center-right policy innovations like the individual mandate and cap-and-trade once President Obama took them up?
The Grumpy Economist
Division of Labour