The Root of the Problem

Here’s why behavioral economics is slow to take off:

More and more, I am thinking about this area in terms of the normative vision of the world it presupposes. Most amazingly, behavioral economists tend to accept the normative stance of neoclassical or standard economics (that is, the axioms of rationality). They “simply” do not . . . → Read More: The Root of the Problem

Triple-Digit Oil Investing and a Natural Gas Price Rebound: Bill Powers

Powers Energy Investor Editor Bill Powers doesn’t shy away from microcaps; he embraces them. In this exclusive interview with The Energy Report, he explains why triple-digit oil is here to stay and how the best-positioned companies will be sitting pretty when natural gas prices rise—as will investors who time the rebound right.

The . . . → Read More: Triple-Digit Oil Investing and a Natural Gas Price Rebound: Bill Powers

Accountability in education

I was shocked by Lant Pritchett’s note on the appalling performance of India’s best two states on the international PISA assessment. Actually, I was not really shocked; I didn’t expect anything else as I’ve been listening to Lant for years now. By the same token, I agree with Jishnu Das that we really don’t . . . → Read More: Accountability in education

Logical Conclusions

Sometimes economists can be complete idiots:

What is the biggest single drag on the beleaguered global economy? Opponents of globalisation might point to the current crisis, which shrank the world economy by about 5%. Proponents of globalisation might point to the remaining barriers to international flows of goods and capital, which also serve to . . . → Read More: Logical Conclusions

Winners And Losers

Voluntary trade ensures that people only deal with others when they expect to be better off after the trade. . . . → Read More: Winners And Losers