Monthly Archives: November 2013

A Computer Might Come After Your Job Next

(Originally published here.) First it won at “Jeopardy.” Now it might threaten millions of low-wage jobs. At least, that seems to be the implication of a Bloomberg News article on International Business Machines Corp.’s Watson supercomputer. Developers are now figuring out how to … Continue reading

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One Bank Handout the Fed Should Keep Giving

(Originally published here.) Many people who should know better have been confused by the Federal Reserve’s decision to pay 0.25 percent in annual interest on reserves held on deposit by member banks. Robert Hall, a senior professor at Stanford, for … Continue reading

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Sony’s PlayStation Taught Greatest Trading Lesson

(Originally published here.) Folksy stock-pickers like to say that you should “invest in what you know,” but that’s actually terrible advice. I know this because I tried to profit from this principle almost 14 years ago and instead ended up losing … Continue reading

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Guess Which Social Network Is Overpriced

(Originally published here.) Will boredom burst what looks like a bubble in social-media company valuations? It sure seems like it’s possible. As for whether there is a bubble, a new survey of Bloomberg subscribers found that 82 percent of traders, analysts and … Continue reading

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Does Government Work Attract Cheaters?

(Originally published here.) Public choice theory is one of the more controversial subfields in economics because its findings are sometimes interpreted to mean that government is inherently corrupt. This has always struck some as unfair. Many in government are hardworking, patriotic public … Continue reading

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Is the Only Choice Bubbles Or Recession?

(Originally published here.) The Onion, a satirical newspaper, ran one of its best headlines ever in July 2008: “Recession-Plagued Nation Demands New Bubble to Invest In.” More than five years later, this joke resembles a serious suggestion from several of the world’s … Continue reading

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Will China’s New Economic Reforms Be Enough?

(Originally published here.) Western observers have a history of misinterpreting events in China. Even so, three announcements from this week’s meeting of the Chinese Communist Party look promising. According to Xinhua, the government’s official press agency, private investors will be permitted to … Continue reading

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