7 Feb 2011

Anything but water

  • "AP exams [in economics] stress mechanical exercises at the expense of the economic way of thinking... very few of the exam questions test the ability of students to reason, to systematically compare and contrast different choices in a variety of settings, to interpret the economics of current events, or to identify the errors often present in articles in the popular media... This mechanistic approach leaves students with the false impression that economics is like engineering."

  • While in a ritzy hotel recently, I had a business idea: collect all the partially used shampoo and soap and recycle it into "new" products. Turns out that some hotels already do this in some places (no link, just a story from the front desk guy). The recycled product is sold in developing countries.

  • Russ Roberts discusses the ins and outs of inflation and monetary policy in this podcast.

  • Politicians fail to agree on what caused or how to prevent the next financial crisis. Looks like we need to cut too big to fail companies down to the size where they can fail. The bears explain why TARP was still a give away by The Bernank.

  • Robert Pyke leaves a comment on the difficulty of leaving good comments on email, blogs, etc.

  • Climate ignorance in one picture:

H/Ts to SK and RM