Two things about drink prices come to my mind, at
least one of which has been mentioned.
1. People go to bars for atmoshpere as well as booze,
so perhaps price can vary without affecting the
purchase decision too much.
2. Think of bars as falling into three classes:
trendy, dive, and regular. Wit
Thank you all for your comments and suggestions. I
appreciate them very much! I just re-read the rules
for the armchair mailing list, and I hope this is not
too methodological or whatever. Sorry about that!
I actually have read Mirowski's "More Heat Than Light"
and found it quite informative.
I can't comment on the market failure, but watching a
morning parking-space auction might be fun.
-jsh
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> Also, organs might be removed before people are
> really dead
You mean like that scene in Monty Python's "The
Meaning of Life"? ;-)
Personally I would be less concerned about the nearly
dead in U.S. hospitals than I would be about third
world street urchins. An enterprising organization
coul
Does anybody suppose that there might be an economic
reason why we don't eat bugs? Or is it just a case of
there being no accounting for taste?
Curiously yours,
jsh
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At the risk of sounding naive, why would economics
change? I've always assumed that intangibles can be
goods as well as tangibles. For example, simplicity
is a good, hence we use hueristics such as the
Availability Hueristic that sometimes (often?) lead to
"irrational" decisions, yet make sense
I just found that article from the Skeptical Inquirer:
crab.rutgers.edu/%7Egoertzel/mythsofmurder.htm
You can also read about it at Chance News
www.dartmouth.edu/~chance/chance_news/current_news/current.html#item10
-jsh
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Howdy,
The Jan/Feb 2002 issue of the Skeptical Inquirer has
an article claiming that econometric studies are good
examples of bad thinking. Though not yet posted
online, you can visit the web site at
www.csicop.org/si/ and the article is also mentioned
at the web site "Math Mistakes in the News,
Howdy,
I'm not so sure I understand what D. McCloskey's piece
is saying. When he remarks that, "The result of
reading 44 pages of hundreds of scientific results
from the front line of applied economics was mainly
that I believed surprisingly little of it," I am
reminded about the old saying that
So is that it then? Is this what anarchists talk
about when they speak of justice sans government?
I've been wondering about that for some time now.
Afterall, if a society without a government were so
efficient and fair, why move to a new model? Surely
humans didn't evolve with complex governm
> Your opinion?
While I can't offer a brilliant and insightful opinion
of my own, I can offer this possibly analogous quote
from the Armchair Economist (pg. 123):
"I have an Ann Landers column about pantyhose
manufacturers who deliberately create products that
self-destruct after a week instead
Howdy,
General Motors is putting into place a plan which I
find a bit confusing. Let me describe it (as best I
can) and maybe someone can explain why it's a good
idea. Here goes.
GM is going to be instituting its Design Engineer [DE]
program. The way things currently work is that a
design tea
>
> For universities that take the long view, better
> grades mean better job
> opportunities for graduates. Better-paid graduates
> mean better endowments
> in the future. For schools that have seen their
> 300th birthday (i.e.,
> Harvard), it's not so unreasonable to assume such a
> prec
> Because I don't agree with
> that, I'm looking for
> profound arguments against that costly influence.
>From Jean Bricmont's essay "Science of Chaos or Chaos
in Science" in _The Flight From Science and Reason_,
ed. Paul Gross, et al:
"As discussed in Penrose [R. Penrose, 'The Emperor's
New M
Robert wrote:
'meaning a pristine environment 6 billion years from
now might be worth more to them than one now. After
all, by then the human race, the "cancer on the
planet" might be gone and the environment will be
"truly natural" according to some points of view.'
For those who haven't heard
Howdy,
I recently visited a web page by a political scientist
that seemed to suggest that NAFTA was a failure. I'd
enjoy reading your opinions on the question of whether
NAFTA made the world a better place or a worse place,
or if it really had no impact. Also, if you could
also say why you feel
Howdy again:
Scott: Thanks for the article! I will check it out.
Fabio: Unfortunately, the gentleman, Mark Rupert at
Syracuse, doesn't make any arguments himself. In his
"Capitalism FAQ's," under the heading "I told you so"
he has a number of links to articles detailing the
failure of NAFTA.
Howdy,
Instead of surveillance schemes that sound a bit
Big-Brotheresque, no offense, why not just take the
forms already extant and merely switch hours worked
for income earned?
Question: Would such a program necessarily imply flat
taxation, instead of progressive, since income will
not be repo
Howdy,
Sorry about this one not being economics proper, but I
hope some will get a kick out of it anyway. It's
about fairness of Euro coins, with a digression on
spinning, tilting, and tossing pennies. It's in the
latest issue of chance news:
www.dartmouth.edu/~chance/chance_news/current_news/c
Howdy,
While I am quite literally a flunkie, I hope I can
offer some insight. I think the question being asked
results from the inherent sloppiness of language,
specifically, the word "market."
A market, my intuition tells me, is any place, real or
virtual, where goods and services are
exchange
> economics is a joyful social science, based on his
proposition that "Prosperity is the result of matching
brains with capital and holding both sides
accountable."
...And physics is the proposition that cool consumer
products are the result of matching physical objects
with brains and holding bo
Howdy Chris,
Please forgive me, can you give me a brief heads-up on
what you did say? I'm not familiar.
Thanks
-jsh
--- Christopher Auld <[EMAIL PROTECTED]> wrote:
>
>
> I am somewhat surprised no one has written to this
> list to give me a bad
> time over my recent spate of media attentio
I heard that when trying to pick a name for the theory
of Relativity, some advocated that that would be a bad
name because it would lead people to say, "Well,
Einsten's theory proves that everything is
relative" Sure enough that's happened. Atleast
you're in good company, Chris.
Thanks for
1. Is the point of Buridan's Ass to show that a
philosophical/logical argument is absurd and can be
rejected, as in "if what you say is true, then we'd
have a case of Buridan's Ass, thus your argument must
be wrong!"? If so, then
2. If we suppose that Jean, let's say, has
intransitive preference
"Providing this free service [public restroom] for
their customers only serves to reduce businesses'
profits, or else the cost is passed on
indiscriminately to all their customers."
Serious question: If the firm is already charging a
profit maximizing price, how can it pass the cost of
bathroom m
John Perich wrote:
"Why do you assume the cost of bathroom maintenance
isn't already included in the price charged?"
I hadn't thought about it. I guess I had assumed,
perhaps incorrectly, that bathroom maintenance costs
would be idependent of the prices charged for goods at
the establishment.
any reason to assume that any given
> cost WASN'T included in
> the final price?
>
> -JP
>
>
> >From: john hull <[EMAIL PROTECTED]>
> >Reply-To: [EMAIL PROTECTED]
> >To: [EMAIL PROTECTED]
> >Subject: Re: In Praise of Pay Toilets
> >Date: Tu
Howdy,
I've been shown how a lump-sum toilet maintenance can
raise the price of goods at a firm. Here's another
serious question: assuming that cigarette companies
are (and have been) profit maximizers, can lump-sum
lawsuit settlement offer incentive for cigarette
companies to change their price
In his book "An Inquiry Into Wellbeing and
Destitution" Partha Dasgupta discusses this issue at
some length. In answering the question of why do the
poor in poor countries have so many children?, he
concludes that it is the lack of markets for capital
and risk.
I simply cannot do him any justi
Peter J Boettke <[EMAIL PROTECTED]> wrote:
"have a central posting service and then judge
articles on how much they are downloaded..."
Wouldn't that just give the incentive to write
interesting titles and abstracts so that the papers
will be downloaded? "Damn the content! I just want to
be downl
Howdy,
Let me apologize in advance for this letter being too
long.
With all due respect, I think I may be disagreeing
with Mr. Foldarvy. First, I think his list may be too
ambitious for a high school class. Second, I really
think that your efforts should be toward making
economics interesting
Jeffrey Rous <[EMAIL PROTECTED]> wrote:
"Thanks for listening to me rant."
That's the nicest rant I've ever read--you must be a
great guy.
"Instead, we should be teaching students how to think
like economists."
That's what I was kinda hoping to get at; I defer to
your choice of text, I really
"...imaginary numbers...ARE the work of the devil."
Whoah!
-
Speaking of accounting, here's a site with an online
lecture for accountants about using Benford's law for
identifying fraud:
www.dartmouth.edu/~chance/ChanceLecture/AudioVideo.html
While not really related to this thread, it IS pr
"Where communities are still being laid out, streets
can be narrow, eliminating on-street parking. Olympia
plans to build residential streets as skinny as 13
feet in one fast-growing neighborhood - one-third the
conventional width and a national record - while
Missoula, Eugene and Kirkland have pi
The paper Mr. Tabarrok offered was very interesting
and of considerably different charactor than the piece
that drew my initial protest. Particularly
interesting was the conclusion that the value of all
the parking spaces in the U.S. exceeds--by far!--the
value of all the cars in the U.S. Holy c
"sometimes the best explanation for why something
isn't done when economics suggests that it should be
done is simply that people don't understand
economics."
I've often wondered if a previously untapped (and
possibly lucrative) avenue in counciling/therapy isn't
'personal optimization.'
Econo
Howdy,
Has anybody read "The Silent Takeover: Global
Capitalism and the Death of Democracy" by Noreena
Hertz? If so, is it any good?
Curiously yours,
jsh
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--- Robin Hanson <[EMAIL PROTECTED]> wrote:
"Let me propose a signaling story"
Perhaps it is an evolutionary artifact: dominance
hierarchies are established when young, and children
are just doing what evolution has hard wired in their
brains. So rather than asking why children don't
coopera
fabio guillermo rojas <[EMAIL PROTECTED]>
wrote:
"...a well adjusted rail road worker in the 19th
century is injured on the job."
It was Phineas Gage, he had a tamping iron blown
throught his head. The Malcolm Macmillan School of
Psychology has a homepage dedicated to him at
www.deakin.edu.au/hb
--- fabio guillermo rojas
<[EMAIL PROTECTED]> wrote:
"It's well documented that long term memory is nil for
children less than five years of age (doctors call it
"pediatric amnesia")"
The Hippacampus isn't fully developed, and it's the
organ of the brain responsible for transferring short
te
--- Bryan D Caplan <[EMAIL PROTECTED]> wrote:
"Actually, I was thinking about kids' amazing ability
to learn languages, which involves massive
memorization."
Language learning is a hard-wired trait--another well
established fact. Kids pick up language automatically
from their environment. Some
Howdy,
Now that the NYSE has gone to trading in decimals,
does anybody actually negotiate to the penny?
While I'm afraid that my reasoning is obvious, here's
why I ask anyway: Negotiating to the penny is
expensive, and it may be worth a few cents to get the
trade over with and move on. Once par
--- Kevin Carson <[EMAIL PROTECTED]> wrote:
"The chief failing of the mainstream
"antiglobalization" movement is, IMO, they fail to
recognize the extent that the global corporate economy
rests on state intervention."
What does "IMO" mean?
-jsh
__
--- Michael Etchison <[EMAIL PROTECTED]> wrote:
"CongressCritter does is to decide what to do not
about, say, farm subsidies generally, but about
SB1234, sponsored by Sen. This and Sen. That, which
goes through specific committees with specific
members..."
So the farm bill never went to the floo
Howdy,
As ad hominem arguments fly around the internet, I
seem unable to get an impartial opinion. Would those
who study the envirnment give me the straight dope on
The Skeptical Environmentalist by Bjorn Lomborg? His
economic arguments seem pretty sound, and this
statistical methods, from what
This seems awfully off topic, but the notion that
atheism implies an immoral society is not true. For a
primer, visit:
www.infidels.org/library/modern/nontheism/atheism/morality-and-atheism.html
Regarding believing biblical creation, every person
should know that the Bible contradicts itself on
Just published today in the journal Neuron; here's a
news release:
www.sciencedaily.com/releases/2002/07/020718075131.htm
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I apologize for my gratitous remark. Sorry.
-jsh
--- James Haney <[EMAIL PROTECTED]> wrote:
> I just had to endure an evolution/religion flame war
> on the Republican Liberty
> Caucus of Texas mailing list (the moderator had to
> shut down the list to restore
> civility), and now it's spread t
--- Cyril Morong <[EMAIL PROTECTED]> wrote:
"Maybe I am running the game wrong somehow and that is
why I get little cooperation."
Are you teaching on the West Coast?! Just kidding.
(Maybe not entirely*) I recall from my psych days
that a notable thing about the prisoner's dilemma is
that coop
--- fabio guillermo rojas
<[EMAIL PROTECTED]> wrote:
"I wouldn't be surprised if there were a similar
difference when you P.D. Can anybody confirm or reject
this claim about students?"
I'm awfully sorry, what does "P.D." mean?
Thanks,
jsh
__
Do
--- Bryan Caplan <[EMAIL PROTECTED]> wrote:
"The same goes for mail order vs. brick-and-mortar
stores. The Internet crash makes it seem like mail
order can't afford to discount 40% below
brick-and-mortar. But why not? It sure seems like a
website must be vastly cheaper to run than a physical
s
Howdy:
Here's my justification for this question: Milton
Friedman declared on C-span that "The Road to Serfdom"
was the book that inspired him to become a
libertarian. So please consider the following:
In the Road to Serfdom, Hayek takes great pains to
distinguish between free vs. competitive
--- Bryan D Caplan <[EMAIL PROTECTED]> wrote:
"What exactly is 'rectifying a conception'?"
It sounds like the punchline to a very, very bad joke.
Begging your forgiveness, what I am trying to ask,
poorly, is what is the "free market," how does it
differ from the competitive market as defined in
--- Fred Foldvary <[EMAIL PROTECTED]> wrote:
"The free market has #1 competition..."
So when "free market" is used, it is assumed that said
market has as a necessary part the "competitive
market" as defined in the textbooks. Cool, thanks.
You're the best,
-jsh
__
The paths basic research programs take are truly
amazing. This is from www.sciencedaily.com:
Stock Market Swings Help Researchers Understand
Extreme Events In Solar Wind
Astrophysicists at the University of Warwick have
applied data analysis methods used to model stock
market fluctuations, to
Howdy,
Does anybody think that the amount or pattern of
support for farm subsidies would change if the average
American were "better informed?" (I know, I know,
"better informed" is awfully value laden and implies a
Philistine-ish public, I'm just not sure how to phrase
it.) By better info I me
--- [EMAIL PROTECTED] wrote:
"I've noticed in contest after contest media polls
fairly consistently overstate support for the
candidate percieved to be more liberal by 5-15%"
That's interesting. Two serious questions. First, do
I recall correctly that the last presidential polls
were predic
--- Grey Thomas <[EMAIL PROTECTED]> wrote:
"'...we think you should have 100 stocks, minimum,
representing more than 20 different industries.'"
Is is true that a major strength of diversification
comes from the fact that stock prices have a
log-normal distribution, i.e. percentage change is
norma
--- Bryan Caplan <[EMAIL PROTECTED]> wrote:
"I enthusiastically recommend: Kraus, Malmfors, and
Slovic. 1992"
Sounds like a great article. K, M, & S aren't alone.
Here's some stuff from Rothman & Lichter's "Is
Environmental Cancer a Political Disease?" published
in the book "The Flight F
--- [EMAIL PROTECTED] wrote:
"My own guess is that the economy cars look alike
because of technology."
I asked a former GM engineer with 40 years at the
company if there was any engineering reason why all
compact cars look the same, even between
manufacturers. He couldn't think of any. Granted
"Holy entropy! It's boiling!" --G. Gamow
Here's a couple interesting passages from Mario
Bunge's "Chalratanism in Academia." I am hoping to
generate interesting replies--any will be welcome.
The ALL CAPS lines are my emphasis.
"To paraphrase Groucho Marx: the trademark of modern
culture is
A while back I heard an ex-military man and author
claim that first-person video games do lead to gun
violence. He made the claim that better medical care
has has hidden the rise in gun violence by reducing
the mortality rate. It does make intuitive sense, if
one looks at murder per se. While I
--- Fred Foldvary <[EMAIL PROTECTED]> wrote:
"I think it is better to use other symbols, such as
*caps*, since when they get copied, one may want to
revert to u/l."
Sorry. Yahoo email doesn't give me many options. I
was hesitant about yelling, which I guess is what all
caps is. I'll try somet
--- fabio guillermo rojas
"As is probably obvious, I'm not an economist"
I didn't see that at all. But then again, I'm a
flunkie, which probably is *really* obvious
Best to you,
jsh
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--- Fred Foldvary <[EMAIL PROTECTED]> wrote:
"'I still maintain that Bunge's ridiculous assertion
that economics assumes greed/money as the only human
motivator is held by most people.'
How do you know?"
Bayes' rule. In print, television, or conversation,
that is the only description of the eco
--- Robin Hanson <[EMAIL PROTECTED]> wrote:
"The corporate management would be given financial
incentives to maximize the market value of these
shares."
Why? Convince me that the greatest leaders in history
were in it for financial gain. Sun Tsu, Scipio
Africanus, Cincinatus to name a few ancie
--- [EMAIL PROTECTED] wrote:
"I feel fairly confident in believing, however, that
he did not mean that the financial incentives would
produce CEOs with a militaristic or glory-seeking
bent."
So do I. (BTW, I wouldn't consider the list of people
I gave to be 'militaristic,' although all were lead
--- Kevin Carson <[EMAIL PROTECTED]> wrote:
"One neocon recently argued that anyone who does not
support Isreael is, by definition, an antisemite,
because Israel is the Jewish national homeland."
Which is ironic in that Arabs are Semitic as well.
Picking sides in the conflict is not anti- or
pro
Suppose, for the sake of argument, that you wish to
speculate in U.S. Citizenship Stocks, UCS for
short--pronounced "yuks." By low & sell high, and all
that sort of thing.
Assume that:
1. An individual is free to own many UCS
2. Non-human legal entities may own UCS
3. There is no legally recogni
--- Alypius Skinner <[EMAIL PROTECTED]> wrote:
"'John Hull wrote:
1. The program will prevent poor from coming to the
States. I think that's wrong'
So you think its wrong to demand that poor people
respect private property rights"
That's a bit of
Hey,
I know this may be a little late, but you might try
the traffic forum: www.trafficforum.de . I can't make
any promises, but it might be useful. At least the
java applets on the links page are fun to play
with
Best regards,
jsh
__
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--- fabio guillermo rojas
<[EMAIL PROTECTED]> wrote:
"There are other sources of non-median-voterness in
policy"
Like the Supreme Court? Brown v. Board of Education
might be a good example. Of course it's not a
legislative body, so I'm out on a limb here.
Maybe there's also a cultural bias
--- Jonathan Kalbfeld <[EMAIL PROTECTED]>
wrote:
"So we've noticed that wherever we go it seems as if
the lines seem to grow exponentially: book store,
post office, bank. Is there some economic precept to
describe this growth?"
There may well be; however, the problem has also been
addressed fro
--- Fred Foldvary <[EMAIL PROTECTED]> wrote:
"It takes a government to ruin a river. ...As for the
future, they have not learned the right lesson, as
huge dams and other current works will continue to
alter the natural flow of Europe's rivers."
With all due respect, you seem to be suggesting that
Howdy,
A big thanks for those who replied.
--- Christopher Auld <[EMAIL PROTECTED]> wrote:
"Classic winner-take-all markets, no?"
Um, I don't know. I live in a village of 1,500 people
with a library to match, and I couldn't find much on
the internet. There were references to Beta v. VHS,
fr
Howdy,
I got this email. I can't read it. It wasn't from
the Armchair list, but it replies to the list. Here
it is in case anybody speaks Spanish.
-jsh
--- Alexander Guerrero <[EMAIL PROTECTED]> wrote:
> ECONOMÍA Y REVOLUCIÓN: GERENCIANDO EN CRISIS
>
> Alexander Guerrero E
>
>
> Muchos e
Good points. Thanks.
-jsh
--- Fred Foldvary <[EMAIL PROTECTED]> wrote:
> --- john hull <[EMAIL PROTECTED]> wrote:
> > ... you seem to be suggesting that
> > policy makers are benefiting the present at the
> > expense of the future, yet couldn't one could
--- Dan Lewis <[EMAIL PROTECTED]> wrote:
"At dinner last night [T]hey get contracts
commensurate to this level."
I agree with you almost entirely. While a guaranteed
record contract for the winning 'Idol' surely has some
value, for example, it's probably not as much of a
boost as getting to
--- fabio guillermo rojas
<[EMAIL PROTECTED]> wrote:
"4. Cognitive limitations: I'm no expert, but my hunch
is that many people are only willing to get worked up
over a small # of issues - taxes, abortion,
immigration, defense... and the dedicated might add
their favorites like gun control or affi
--- Grey Thomas <[EMAIL PROTECTED]> wrote:
"But I wonder if there are any small homeowner
associations, or service clubs, or any group, who
actually have used this method for allocating the
group budget?...I have this strong feeling the answer
is no,...not even any group of economists [do
that]...
Howdy,
Why does it seem like the other lane in heavy traffic
is always going faster? Depends on who you ask.
Here's two contradictory answers with explanations.
www.stat.duke.edu/chance/133.redelmeier.pdf
plus.maths.org/issue17/features/traffic/index.html
The first, by Redelmeier and Tibshira
Howdy,
It seems like I've seen advertisements for insurance
companies who'll offer quotes from their competitors,
even if their competitor's quotes are cheaper. I can
think of two reasons why a firm would do this. First
would be the warm-fuzzy model, where the company is
banking on goodwill res
--- [EMAIL PROTECTED] wrote:
"Is there a critical period for language acquisition?"
Yup. Very early on all infants make all the sounds of
all human languages (I think they might be called
phonemes). Anyway, they get culled by imitating the
parents. Hence, it's so difficult for Japanese to say
Good point, Anton. Thanks!
-jsh
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--- Robin Hanson <[EMAIL PROTECTED]> wrote:
"Why do charity races make sense?"
It allows the participants to demonstrate their
commitment to the cause when soliciting money. When a
participant comes knocking at your door, he's not just
asking you to give money to prevent breast cancer,
let's say
--- Robin Hanson <[EMAIL PROTECTED]> wrote:
"This is a confused about economics explanation
They could spend the same effort they spent training
for the race and running it doing their usual kind of
job"
That's a good point. Of course, people who are
salaried can't get a few extra bucks
Howdy,
Here's an interesting quote on one of the diffuculties
of a planned economy, from Robert Conquest's
"Reflections on a Ravaged Century," W.W. Norton, 2000,
pg 102-103:
"Soviet economists, as soon as they got the chance,
pointed out that the problem of setting prices was
insoluble. Twenty-
This year's Ig Nobel prizes have been announced as
well, www.improb.com/ig/ig-pastwinners.html#ig2002:
The 2002 Ig Nobel Prize Winners
BIOLOGY
Norma E. Bubier, Charles G.M. Paxton, Phil Bowers, and
D. Charles Deeming of the United Kingdom, for their
report "Courtship Behaviour of Ostriches Toward
I was given to the impression that one of the benefits
of gov't funded science was that it creates separating
equilibria such that the okay, but not ground
breaking, scientists don't muck-up the works at ground
breaking institutions by misrepresenting themselves
and getting hired. That the expens
> From: Warnick, Walt <[EMAIL PROTECTED]>
"In the natural sciences, basic research at
universities tends to be funded by the Federal
government... Basic research funded by corporations
is very small."
Which hits on my original remark: if we have two types
of scientists, Basic & Applied, and if b
--- Francois-Rene Rideau <[EMAIL PROTECTED]> wrote:
"Obviously, the government didn't forecast the
unpredictable path of discovery any more than the
"private sector". Non sequitur."
No. I was using the story as neither a premise nor a
conclusion to an argument about funding sources. It
seemed a
Interesting article, thanks!
A couple of months ago I watched a documentary that
was on either "Frontline--World" or the "National
Geographic Channel," I can't recall which (sorry)
about the suicide bombings of the Tamil Tigers. The
Tigers aren't Muslim, they're primarily Hindu with a
Christian m
--- fabio guillermo rojas wrote:
"how much of investing behavior is based on
self-assesment vs. rational expectations?"
It seems like the difference between the return on
self-managed investments vs. the market, let's say,
should measure something meaningful like the value of
being an executive mo
--- Grey Thomas <[EMAIL PROTECTED]> wrote:
"I'm sorry that I didn't immediately find the internet
map showing the transfer of giga- and tera- bytes of
data. I've seen such before, such info maps certainly
exist."
I've found a story I heard about, though it may be
talking about stock rather than f
<[EMAIL PROTECTED]> wrote:
"It seems like the cigarette is everything a good
solid currency needs to be"
Except that you can't smoke your cigarettes and have
them, too. A researcher with alot of smokes could
probably come up with some interesting monetary theory
experiments.
-jsh
_
Suppose I can spend $10 on a widget that I want or
invest the $10 at the best possible rate. The
invested money will grow to, let's say, $100 in some
period of time. But that $10 isn't worth $100 today,
it's only worth $10 today. The widget and the
investment have the same** value today, right?
Psychologists have conducted experiments where the
subjects are (randomly) split into two categories.
They both perform the same task, perhaps a memory
drill, and then one group gets paid money for
participating and the other doesn't. After the
"experiment," i.e. the task that the subjects were
t
--- Fred Foldvary <[EMAIL PROTECTED]> wrote:
"That is a benefit. A good currency is a widely
traded, useful, commodity. That's why salt, cocoa
beans, cattle, etc., were used as money. Having a
consumer use anchors the value of the currency."
Good point. Thanks!
-jsh
___
I have nothing economic to offer, but only the
observation that the effects of having bottle deposits
have been striking. I recall as a kid that litter in
the form of bottles and cans was ubiquitous, now
returnable are rarely seen as litter. Bottles that
don't have deposits associated with them,
William Dickens <[EMAIL PROTECTED]> wrote:
"Can your friend explain why vaccines are different
from other drugs?"
While I'm certainly not qualified to negotiate that
legal minefield, may I guess? I'd say that a drug is
intended to fix an existing problem, whereas a vaccine
applies a "dangerous" e
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