A very talented economist can be smoked if that very talented economist lets his preconceived conclusions drive his, uh, analysis, such as it is.
An amazing, and undercovered, fact about the U.S. economy: over the last five years, labor productivity has grown at more than 3%/year.
Two about cars:
Want to ride in a really hot car you can’t afford? “Squadra Piloti is a national club that provides car enthusiasts with access to virtually any car that they want to drive.”
If your car has one of those new keyless ignition systems, you might want to be careful. (Via Fark.)
Today’s utterly unfair, cruel–but entertaining–bit of academic gossip:
Professor X is a professor of economics at a leading U.S. business school. His university bio states that he is “internationally known”. He holds a chair. He has been associate editor or editor of a couple of the leading academic journals in economics.
But a student in one of his undergraduate courses, in a post dated 4/25/06 on RateMyProfessors.com, writes, “My favorite [Professor X] quote of the year: note this occurred after wasting 20 minutes trying to get a powerpoint to load. ‘OK everyone, I figured out the problem. Apparently, if you don’t move the mouse the screen saver doesn’t go away.'”
(And no, I won’t tell you the professor who allegedly said this, so don’t ask.)
Having lived in a glass house all my life, I’m usually reluctant to throw stones. But I’m in the middle of end-of-semester grading and I’m cranky, so today I’m making an exception.
A Raleigh News & Observer writer, describes the changes Sidney Lowe will have to make coaching in college as compared to the NBA:
Halves vs. quarters.
Parents instead of agents.
And 11 fewer seconds on the shot clock.
The pro shot clock is 24 seconds while the college clock is 35. So the change, obviously, is 11 more seconds. Sheesh.
Second, we have SBC and BellSouth spending $4 billion to change AT&T Wireless to Cingular. Now that AT&T has bought BellSouth, it is planning to spend an unknown but large amount of money to change Cingular back . . . to AT&T Wireless.
Yeah, yeah this could be rational–SBC and Bellsouth’s $4 billion is a sunk cost. But doesn’t it seem as if someone has wasted a huge amount of money? Maybe breaking up Ma Bell wasn’t such a great idea
Alert, as always, to new trends, the New York Post reports on cougars in New York City. (No, not those cougars.
One of the many, many bad aspects of the Duke lacrosse, uh, thing is that it unfairly maligns Duke students. (Full disclosure: one of my children has recently graduated from Duke and another one currently attends.) I’ve read a lot of stuff about “Duke arrogance” and “spoiled rich white kids” that is simply false
There may be a little truth in the charges.
Here’s a student newspaper report griping that the LDOC celebration at Duke–you haven’t heard? All the best colleges and universities are now supposed to host a celebration of the Last Day of Classes–is not as well funded as at “peer universities”. For God’s sake, Yale had Ben Folds and Luda! And what did Duke have? Guster. Who? Oh, the shame.
And here’s a student columnist making a request. No comment, I think, is necessary:
Bring Kegs Back to West (and Keep Tailgates Too). These large-group social gatherings are when Duke is at its best. They are some of the rare times when the social walls of race, class, frat and appearance are broken down. The alternative is boozing in a cramped dorm room or dropping $50 at a bar. Duke, stop systematically undermining everything that gives this place character.
Blogger claims that Google configures itself a little differently if you access if from a university address. The claim is true in my case. Interesting.5:27
Distinguished economist Greg Mankiw has recently started blogging and his blog is really worth checking out. In this post he asks why economists don’t write more for general audiences. The answer, he quickly notes, is that we have little incentive to do so. Professor Mankiw thinks it might be time to change that. He quotes Oliver Wendell Holmes: “It seems to me that at this time we need education in the obvious more than the investigation of the obscureP
As a fan of markets, I don’t mind that the median compensation for leaders of public research universities and public college systems is $360,000. (The median at doctoral degree-granting private research universities is $468,704).
If that’s the market price, if that’s what it costs, so be it.
But is it really necessary that at the University of California “many of the university’s top managers received pay and perquisites not publicly disclosed or even approved by its governing board”?
Michigan becomes the first state to require high school students to “successfully complete an online course or learning experience”.
Coming soon: Vermont becomes the first state to require students to drink eight ounces of liquid a day and California becomes the first state to require high schoolers to listen to music their parents don’t like. 5:00 AM in
A wonderful post by Don Boudreaux at Cafe Hayek, “A Good Deal”. Includes, more eloquently, what I think:
I love this market process. People such as me — people who lack even a whiff of creativity, people who are terribly risk-averse, people who lazily prefer to read novels and work at secure jobs and spend our evenings at home dining and drinking with family and friends — just sit back and wait for profit-hungry hard-working anxiety-ridden creative entrepreneurs, each in competition with others, to find new ways to improve our lives. And we don’t even have to accept what they devise. If we like it, we buy it. If not, we don’t buy it.
I almost feel like a free-rider, a lazy bum, a poacher. I do nothing entrepreneurial, and yet my daily life is filled with the marvelous fruits of entrepreneurial creativity and effort. It’s an incredibly good deal.
(After bookmarking this for posting, I saw that Michael Greenspan also linked to it. As they say, great minds think alike.)5:54 AM in
I wish there were more detail and–as several commentors have noted–the blogger does not remember the brain teasers correctly, but a still interesting account of interviewing at Google.
A wonderful contribution. Desperately needed. “How to Stay Awake in Boring Meetings”.
Exactly how do they know that that Ferrari Enzo was doing 162 mph when it crashed? Daniel Engber explains.