Archive for Financial Economics
Heads EMH Wins, Tails Its Opponents Lose
More circularity posing as profundity from Scott Sumner on the Efficient Markets Hypothesis (EMH): The past five years should have been an absolute gold mine for the anti-EMH types that supposedly dominates the hedge fund industry. Just think about it. Shiller says stocks are way too volatile, and the US stock market has been incredibly [...]
Read moreReminder About Mises Academy Class
Remember kids, my class on Mises’ first major work starts tomorrow; infomercial is here. As I said on Facebook: If you don’t have the money for it, put it on credit. I don’t think we will have the time to talk too much about clearinghouses, but Mises does do a great job explaining that in [...]
Read moreIncome and Consumption: It’s OK to Be Different
You kids know me, when Steve Landsburg has a new post up with which I find myself in 99% agreement, I have to focus on what I don’t like. (It’s not a grudge or anything. I’m actually testing the Coase Theorem’s prediction that Steve will efficiently offer me $10,000 to leave him alone.) Anyway, both [...]
Read moreNew Ways of Understanding the Debt Burden Dialog
Curse Dean Baker! Not only did he mislead (through the amplification by Paul Krugman) millions of people about the danger of government deficits, but then he went and posted again on the topic. This allowed me to skirt my earlier pledge to not post anything else on this. If you can stand it, over at [...]
Read moreHow the Private Bankers Are Using the Financial Crisis to Reshape World Government
How’s that for a neutral title? If you are willing to play this in the background, there are a few decent jokes sprinkled throughout.
Read moreKrugman Almost Renders Landsburg and Me Speechless
On the issue of corporate taxation, Steve Landsburg recently declared that Krugman had rendered him “at a loss for words.” (Although I should add, Steve managed to find 543 words to put in his post.) In this post, Steve wrote: But if his point is that you must claim a share of those profits in [...]
Read moreLearn the Views of Mises on Money and Banking!
Admit it: You’ve had that copy of The Theory of Money & Credit on your shelf since October 2008. When TARP went through, you thought the end was near, and you needed to go back to the ancient texts to get guidance through the storm. But then Mises started talking about “credit money” and you [...]
Read moreFollow-Up on Labor versus Investment Taxes
Steve Landsburg thinks he’s got Mate in One in the comments of my previous post, so before he declares victory let me write this follow-up post. To set the context (again), I am dissatisfied when Steve (talking about Mitt Romney) uses a thought experiment to conclude, “people with investment income bear a higher tax burden, [...]
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