Bitcoin and Tulipmania
Bitcoin made new highs, investors made a fortune. The only explanation is their unquestioned brilliance. Have we seen this before?...
Subjective Probabilities: Texas Edition
Earlier this year I added a number of Trump possibilities, but only thought two were likely (probability over 50%): Trump would serve out...
Free Markets
A free market exists when goods and services are bought and sold in open markets at prices determined by supply and demand. Free markets...
Dark Charisma
I recently watched a BBC documentary called "The Dark Charisma of Adolf Hitler," then read Shirer's The Rise and Fall of Adolf Hitler...
Misbehaving: a Book Review
Misbehaving: The Making of Behavioral Economics, Richard Thaler (2015). This is something of a memoir of Thaler more or less creating...
Thaler Wins the Nobel Prize
Richard Thaler, professor of economics at Chicago, won the 2017 Nobel Prize in economics. He is a founder of behavioral economics, which...