- very sad for this country's people, but otherwise a very concrete first level econ lesson for everybody. One can only hope that any other government passes 'introductory economics' before experimenting with policies (samples of which, for the same country, were featuring on my blog a while ago as well)...
- female leaders and what comes and what doesn't, with that (with further links to very interesting recent PDF articles within the text)
- from the 'exotic entreneurship' stories cycle, another example mentioned in Tyler Cowen's very well written book, Discover Your Inner Economist (see also my previous example from there). Today: "the crying bar" (since I have some relatives that own a bar in Romania, this might be particularly of interest as business strategy for them; it's high time we copied the Chinese:-)):
" The truly regretful in the Chinese city of Nanjing can visit a "crying bar". There's a sofa, some tables, and a great deal of tissue paper. For about $6 an hour, customers can sit and cry. The owner, one Luo Jun, claimed he hit upon the idea from customers of a previous bar. They wanted to cry, but they had no venue for this desire. The crying bar solves their problem by making the show of maudlin emotion socially respectable and indeed socially expected. I hope I don't see you there"
- very wise words from Tom Sowell on "that top 1%"
- What are the odds of a recession in the USA (& related items)? Answers are given by a. Larry Summers in a short 'debate' with John Snow: Summers calls the shots, Snow very much agrees to everything (11 minutes .mp3); b. Martin Feldstein, who comes forward with a 2-part strategy expansion: combine lowering interest rates further by the Fed + a bold fiscal stimulus; c. Eddie Lazear, debriefing the newly released economic forecast of the White House; d. finally, two very funny chaps on YouTube who make clear the subprime problem (and its solution!) for everybody. Hat tip for all a.-d. links here to the one and only Greg Mankiw.