Monday, December 13, 2010

Econlinks: The 'Economics and Reality' edition

  • Harald Uhlig has an interesting recent paper entitled "Economics and Reality"  (intentionally recalling Sims's 1980 ECMA, indeed) . While he discusses the relationship between Economics and Reality (yep, isn't that what you all hope to hear?) mainly in terms of Macroeconomics (you know, the black sheep of the family), I thought he does that in an informative and at the same time very concise way. Hence, highly recommended; I'll quote his end (optimistic, for once...) summary, to get you in the mood: "Reality, i.e. empirical evidence influences economic thinking and theory and vice versa -- but it does not do so in textbook fashion. Jolted by new empirical and theoretical insights and subjected to the fickleness of attention, the frontier of our sciences lurches forward to the unknown territory of ever more profound understanding. If it moves in circles, it hopefully does so on even higher levels. Practical economics and economic policy follows, with considerable distance. Perhaps, this is how it has to be."

Saturday, December 04, 2010

Flawless: Kseniya

I have not seen anything more dramatic and powerful than this in the modern art world perhaps since Pink Floyd's The Wall movie. This is a work of perfection, there is no single detail left to chance; for instance, obviously it could have only ended apocalyptically-- on Apocalyptica's version of Nothing Else Matters.

After this, what is left for us to write? I bow in front of the real talent.