Increasing Marginal Utility

A blog so good it violates the law of diminishing marginal utility.

Browsing Catharsis – 12.23.12

I REALLY DON’T THINK THE WASHINGTON CONSENSUS WAS THAT BAD EITHER.

“Twenty and thirty years ago the general consensus was that pretty much nothing was going to help Africa. Sunk in Malthusian destitution as the various countries were, people really just couldn’t see any manner in which the place could develop. Then there was this bright idea: hey, what if we told people and governments just to stop doing stupid things?”

-Tim Worstall, “Hasn’t that Washington Consensus done well?

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WELL YEAH SPORTS IS MORE SANE THAN POLITICS.

“There is no doubt Cowen is ruthlessly and admirably efficient; an infovore. I suggest he’s also, however, ‘phenomenally smart’. ‘I don’t know what that means,’ he says. ‘I mean, I can absorb a lot of information about basketball. I like basketball but I’m not like being smart about it.’ And then he’s off again … ‘Sports is remarkably cognitive. I think it’s underrated just how smart it is. Actually, if I had more time, I would spend more time with sports. Watching it, reading about it, I think it’s oddly underrated.’”

-John McDermott, “Lunch with the FT: Tyler Cowen.”

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THE PARADOX OF CHOICE, PROBABLY MY LEAST FAVORITE RESULT IN BEHAVIORAL ECONOMICS, AS ILLUSTRATED BY A PUPPY.

Via Economists Do It With Models.

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DICK MORRIS CIRCA 1850

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