Don’t diss the framework

Noah Smith writes a great piece on “what economics gets right” over at Bloomberg View today. In it, he criticizes the view of Alex Rosenberg and Tyler Curtain, who claim in a recent New York Times piece that economics “lacks the most important of science’s characteristics — a record of improvement in predictive range and accuracy.” […]

“An ostentatiously prodigious worker”

George Howe Colt writing in Brothers: On His Brothers and Brothers in History about the work habits and many accomplishments of Dr. John Kellogg: The Doctor was the wizard behind this vegetarian Oz. He was, in his way, no less a visionary than Ellen White, and his goal as no less ambitious: to change the […]

The lowdown on negative interest rates

Here’s my humble attempt to explain the logic of “negative interest rates” over at Enhancing Capital. I’ve found some good stuff written on this topic already, but nothing that I thought was accessible to the average person. Hopefully this report helps to fill that gap. One highlight I’d like to point out is that negative […]

The value of expertise

I think respect for common sense is an amiable, humble, and often useful habit for a thinker to have. It reminds a thinker of the complexity of the world. But one can’t articulate anything clearly, or follow any sophisticated chain of logic, or conduct an experiment, without departing somewhat from common sense, and entering the rarefied, elite world […]

Some interesting facts from 2014

Here’s a cool piece from Pew Research. It lists “14 striking findings from 2014.” Here are some highlights (though you really should go check out the whole piece…it’s quite interesting!). The median wealth of white households is 13 times that of black households and 10 times that of Hispanic households. That’s insane! 63 percent of Americans say it’s a good […]

The Fed is frustrating (and won’t raise rates in 2015)

The Editors at BloombergView are spot on with this one: Here’s the point, and it’s really quite simple: The Fed doesn’t know when it will start to raise interest rates, nor should it have to know, nor should it indulge analysts’ misconceived determination to find out. Interest-rate changes are not, and should not be, on […]