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Interesting links

07/10/2016
  1. The desire to fit in is the root of almost all wrong doing. “Immorality is frequently motivated by a readiness to conform to law and convention in opposition to our own values. In these cases, it’s not that we care too little about others; it’s that we care too much. More specifically, we care too much about how we stack up in the eyes of others.” Contains philosophy.
  2. Economist Scott Sumner on what he got wrong and what remains uncertain about Brexit. Here is one extract: “The opponents proponents of Brexit have a right to claim that the “Remains” got it wrong, predicting that uncertainty would cause a recession in the UK. It still might, but that seems increasingly unlikely. If I were a Brexit fan who didn’t believe in the EMH [Efficient Markets Hypothesis], I’d claim that the stock market initially fell because investors believed all the dire warnings coming from elite prognosticators, and then rallied when it found out those warnings were false.” Do read the whole thing.
  3. US president Barack Obama’s prescription for his successor. Here’s one extracted paragraph: “Further progress requires recognising that America’s economy is an enormously complicated mechanism. As appealing as some more radical reforms can sound in the abstract—breaking up all the biggest banks or erecting prohibitively steep tariffs on imports—the economy is not an abstraction. It cannot simply be redesigned wholesale and put back together again without real consequences for real people.” Interesting read.
  4. The Economics of dining as a couple. Here’s the kicker: “A communist economy is a terrible idea. A communist dinner table, on the other hand, truly is a bounteous paradise.” It’s a very amusing piece well dosed with interesting economic analysis.
  5. Ice Hockey home team trolls their opponents.
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