Good morning.
- The dark side of the desire for knowledge.
- Once a year? Once a quarter? That’s seems surprising and perhaps a little troubling to me.
- Two blogs recommended.
- Good or bad? A gedanken-experiment.
- I think that’s not quite right, I’m betting Israel fears an Arab neighbor getting nukes too.
- Awsome lede dude.
- Where mustang still means mustang.
- Game theory and Treasury.
- Seeing Christ in the mirror.
- Women in charge.
- Rationalism as foreign policy in a world that uses its whole brain (and admittedly sometimes uses the other “half”).
- American Babylon, a review.
- A MTB view of the Hell of the North.
- Verse as prayer.
- What’s next, “if Czechia won the war?”
- Superstar slavery?
- Stimulus.
- Mr Summers, corruption? A view that it was not.
- The arrow of time.
Mr Summers, corruption? A view that it was not.
A good counterpoint to your previous link. Megan, though, neglects to point out one absurdity in the ‘corruption’ charge. The line is way back in April 2008 Goldman Sachs knew the next President would be Obama or Clinton…hence they assumed Summers would be appointed to a high position hence they paid him $135K to secure his good favor….I suppose so he could bail them out.
But if Goldman was so good at telling the future why not short bank stocks, CDO’s, and mortgage backed securities? Some funds and individuals did do that and quietly profited by tens of billions as the headlines were screaming about those who were losing.
Boonton,
On failure to predict … you keep hinting at reasons why the Austrian economic view is right … yet support Keynesian solutions alas.
Both Keynes and Hayek rejected the macroeconomic assumption of infinitely perfect and rational actors who could predict with precision the future consquences of their decisions. They can be grouped into a camp that felt business cycles and crashes were endogenous in contrast to the ‘rational expectations’ school and classicalists who viewed them as exogenous. It is interesting that economic schools of thoughts often do not always line up along a left-right divide.