Posts tagged economics
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“ Whether it’s being done in honest ignorance, blind obedience, or cynical exploitation of the market, the result is the same: our ability to envision new solutions to the latest challenges is stunted by a dependence on market-driven and market-compatible answers. Instead, we are encouraged to apply the rules of genetics, neuroscience, or systems theory to the economy, and to do so in a dangerously determinist fashion.”
“ In other words, companies that focus on traditional measures of quality—fidelity, resolution, features—can become myopic and fail to address other, now essential attributes like convenience and shareability.”
“ The virtual world we studied appears to behave in the way a real economy does. The people there are as rational (or irrational) as we are offline. As a result, there are price indexes, an inflation rate, etc. This suggests some at least rough mapping is taking place for the world’s economics, and that maybe, just maybe, these worlds might serve as testbeds for economic research and policy tests.”
“ It’s a terrible thing to come to terms with, but I am the reason the world is in an economic tailspin. Me, alone. All those foreclosures, short sales, bank failures, job losses, bailouts, plummeting stocks, the ripple effect into Europe, China, even Madoff: all my fault. Moi. … I’m your neighborhood real estate agent, and I’m really, really sorry.”
“ Too many people, it seems, assume that “there is no free lunch” means that the market is entirely static. That is, they believe it’s a zero sum game. If I do x, then y loses out. … But that’s simply not true. Economics is not a zero sum game, but is built around economic growth — where the sum of economic activity can be greater than the parts.”
That ‘Buy American’ Provision
Why is the buy-American idea objectionable, or, alternatively, under what circumstances should it be promoted?
