If your humble blogger had the time, he would create a database the documents all the outrageous calls people make. Pundits predicting stock market results, economists calling for some kind of statistic, or any idiot that the traditional media calls up can actually shape opinion. But that doesn’t mean they are qualified, or accurate. I’d [...]

Back in the 1970s some finance professors proposed an idea that has since shaped the very landscape of business. Basically, if the owner of a company also manages the company, they have all the motivation they need to maximize profits. But when a shareholder (principal) hires a manager (agent), that manager may have other things [...]

A peaceful resolution to the Euro crisis: As of right now this is the biggest issue facing the developed world.  As scary as this crisis might be, we’ve come a long way since WWII. Enough turnover in Congress to make them more able to enable legislation: At this point I don’t really care which party [...]

There is no shortage of examples out there of government waste.  Fiscal conservatives believe that government, especially the federal government, just gets in the way.  In some cases, this is very true. When governments fund programs or initiatives, they often come with a number of strings attached.  This is likely a result of paranoia over [...]

“Call it a consumption tax, a luxury tax, or whatever. The name doesn’t matter. It’s a tax on buying more than you actually need. Taxing for the sake of taxing is bad, but taxing items with externalities on the surrounding world may not be a bad idea. The best example of this, especially in the [...]

Made up words are my thing.  Just a few are Freeconomy, Egoeconomics, Hypotheory, and this blog’s namesake.  My childhood, and much of my adult life, has been filled with making up words when the real ones escape me.  But I can’t take credit for Prosumers, a word the predates my conception.  Prosumers is an awesome [...]

Local honey is one of the tastiest things in the world.  Maybe I just like the flowers near my home, maybe because when I was a kid it helped with my allergies, maybe I’ve been an eat local enthusiast all my life.  Okay, maybe not the last one.  But I love local honey. It’s not [...]

Back in 2006, enough people in Washington agreed on a behavioral economics principle to pass a law about it (Pension Reform Act).  It gives employers the authority to automatically enroll employees in 401(k) plans.  The intent is that many people don’t enroll in retirement accounts because they are simply lazy.  The idea works, and companies [...]