Fast and Slow Stock Markets

Goldman Sachs is asking $30 million for a firm that, 14 years ago, it purchased for $6500 million ($6.5 billion). The story (sort of) starts 222 years ago. Wall Street was where our first Congress met…

Some Greek Math

With a euro zone update on Greece unfolding (they might lease some islands but we’ll get to that in a moment), here is some Greek math that Michael Lewis presents in Boomerang. Referring to the …

Greek (Debt) Myths

Maybe sell some islands and an ancient ruin or two? In Boomerang, Blind Side author Michael Lewis repeats what German politicians were suggesting in 2009 when they heard that the Greek debt was much l…

Why Might People Cheat?

When are people more likely to cheat? Behavioral economist Dan Ariely says to look at sweatshirts, the Ten Commandments, dollar bills and cans of Coca-Cola. In one experiment, Ariely discovered that m…

California and Greece

It is good to pay fire fighters and police officers generously. It is good not to raise taxes. It is good to give voters what they want and get re-elected. As Michael Lewis describes in Vanity Fair, S…

Moneyball Economics

A wonderful baseball movie, Moneyball is also about economics. The story focuses on the Oakland Athletics, a second-tier baseball team with a small budget. A speedy runner? A homerun hitter? The stars…

Euro Problems

This country had a national railroad that received $100 million euros a year in revenue but had expenses of $700 million. All public jobs paid an average of 3 times what the private sector paid. Beaut…

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