The Cost of Seat Belts

Can we assume that seat belts make us safer? Maybe. Writing about seat belts in 1975, University of Chicago economist Sam Peltzman described what we now call the Peltzman Effect. Sam Peltzman said tha…

Max Bialystock and CDOs

Comparing the deal to Bialystock, Bloom, and Springtime For Hitler in The Producers, NPR’s This American Life looked at how a Chicago hedge fund made money on seemingly unpro…

A New Fed?

“Independent” is the first word that comes to mind when I think about the Federal Reserve. Overseeing the supply of money and credit, the Fed is supposed to be an independent Federal agenc…

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