Signaling and the College Bubble

From Bryan Caplan:

Many educators sooth their consciences by insisting that “I teach my students how to think, not what to think.” But this platitude goes against a hundred years of educational psychology. Education is very narrow; students learn the material you specifically teach them… if you’re lucky.

Other educators claim they’re teaching . . . → Read More: Signaling and the College Bubble

A Tale of Two Recessions

So I wind up often getting into an agument that boils down to me disagreeing with a common belief that the recent recession for Pittsburgh is a slightly milder, but still very similar experience to the recession of the early 1980’s.  Nationally it was actually two recessions officially (January to July 1980 followed by the longer . . . → Read More: A Tale of Two Recessions

A Broken Market

The pharmaceutical giant, Pfizer, watched its main source of revenue and profits, Lipitor, lose its patent protection this week, and now faces competition from generic equivalents. In 2010 Lipitor was the second highest selling prescription drug with $5.2 billion in sales in the U.S. alone. (source: Drugs.com). Now, in the next year, prices of . . . → Read More: A Broken Market

Economic Events on December 5, 2011

At 10:00 AM Eastern time, the Factory Orders report for October will be released.  The consensus is that there was a decrease of 0.3% in orders from the previous month.

Also at 10:00 AM Eastern time, the ISM non-manufacturing index for November will be released.  The consensus estimate is that increased by 1 point . . . → Read More: Economic Events on December 5, 2011