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EclectEcon
I have "delusions of adequacy."
Interests: economics, policy, theatre, music, hiking, geocaching
Recent Activity
I may have missed a few things but here is a possible back story for the United Airlines scenario: A person who is a doctor books one of the cheapest tickets possible, not realizing that doing so means he opens himself up to the risk of being among those who are most likely to be involuntarily bumped from a flight.... Continue reading
Posted Apr 12, 2017 at EclectEcon
The other day Otis sent around this piece bemoaning the fact that undergraduates are unable to engage in critical thinking and that they don't learn a thing about critical thinking at college or university. Some excerpts: ... [A]lthough faculty in the humanities and social sciences claim to be teaching critical thinking, often they’re not. Instead, they’re teaching students to “deconstruct”—to... Continue reading
Posted Mar 29, 2017 at EclectEcon
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Two years ago, I saw "Midsummer Night's Dream" in Stratford. I gave it a 3/5 star rating. The acting was superb but the cross-gender casting was annoyingly gimmicky. It made no sense. Fast forward two years to the upcoming performances of "The Merchant of Venice" at The Arts Project in London, produced by Crow Bait Productions. In this adaptation by... Continue reading
Posted Mar 22, 2017 at EclectEcon
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One of the very rewarding aspects of teaching is seeing one's students success. Even more rewarding is their thanks when they assert that one played a role in their success. Such is the case with Harold Winter, a student in a course on law and economics that Stan Liebowitz and I team taught at UWO back in about 1980. Harold... Continue reading
Posted Mar 19, 2017 at EclectEcon
The news media have been full of stories and hand-wringing about the high prices of homes in Vancouvre and Trono. From Lawrence Solomon [via Dr J]: The Greater Toronto Area is heading into a catastrophic housing bubble, some experts warn, pointing to a raft of scary statistics, such as the sale of detached homes averaging $1.2 million in February, a... Continue reading
Posted Mar 18, 2017 at EclectEcon
I led off one of my early publications with this paraphrase of a poem written by Dennis Robertson When I had scarcely learned to toddle, my parents handed me a model with lots of little leads and lags and pretty [hyperbolic] bags. Robertson wrote the piece in frustration because he was skeptical about the mathematical and econometric modeling that was... Continue reading
Posted Mar 9, 2017 at EclectEcon
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All the snow melted yesterday afternoon, but we had more snow overnight, enough to do another snow stomp art piece (albeit barely enough). The bitter wind and cold, coupled with the snow, makes people think of escaping to warmer climates: Three interesting things about doing these pieces of snow art: Today's work was not technically snow stomp art. There wasn't... Continue reading
Posted Mar 3, 2017 at EclectEcon
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I am currently appearing in the play "Caught in the Net", and so it seemed appropriate when I saw the snowfall this morning to write that title in the snow: The play is a really fast-paced farce about a man who has two wives and families, one in Wimbledon and the other in Streatham. But the deception is about to... Continue reading
Posted Mar 2, 2017 at EclectEcon
Just don't try to force all of the rest of us to eat it that way. The Philistine Liberation Organization, of which I appear to be the de facto chair, celebrates differences in tastes and preferences. From our original mandate: The Philistine Manifesto I have been subjected to the biases and special pleadings of the artsy culture vultures long enough.... Continue reading
Posted Feb 28, 2017 at EclectEcon
I've been wearing bright, patterned sox almost exclusively for several years. I guess my doing so means something: Despite our conforming attitudes, a study published in the Journal of Consumer Research[1] investigated the theory that people who are nonconformists can potentially be viewed as being more high status and more competent than those who conform to social norms. So what... Continue reading
Posted Feb 20, 2017 at EclectEcon
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Yesterday morning I woke early and looked out the window. Yea!! Lots of new snow on the lawn in front of our building. So I dressed quickly and went outside to do some snow stomp art. I knew the temperatures would rise this coming weekend, and that made me think of surfing. The street lamps were still on, and the... Continue reading
Posted Feb 17, 2017 at EclectEcon
The basic premise of economics (and many other social sciences) is that "People Respond to Incentives". Here is another example (via Jack): [W]hile Manitoba offers legal aid to refugees, the provincial government confirmed in an email that Saskatchewan is one of four provinces that does not. ... "If someone is making a refugee claim in Saskatchewan they have to spend... Continue reading
Posted Feb 12, 2017 at EclectEcon
Prices change. Sometimes the price change is caused by a shift in supply, sometimes it is caused by a shift in demand, and sometimes both supply and demand change, leading to uncertain ambiguous results. We try to drill these basics of supply and demand over and over in our introductory economics classes. But these lessons seem to escape many students... Continue reading
Posted Feb 11, 2017 at EclectEcon
Here is more evidence that the best use of investment funds for the long term is low-cost (low management fees) index funds and passive management. The big endowment funds that used active management were out-performed over the past five and ten years by smaller endowment funds that relied more heavily on passive management, index funds, and low MERs [Management Expense... Continue reading
Posted Feb 10, 2017 at EclectEcon
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As many of you may recall, my favourite scotch BY FAR is Ledaig, a moderately peated 10-year-old single malt from the Tobermory (Mull) distillery (see this, this, this, and this). Recently I was in the local liquor monopoly (aka the Liquor Control Board of Ontario [LCBO]) and asked if there was any Ledaig available. They went on their computers and... Continue reading
Posted Feb 4, 2017 at EclectEcon
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There is an infinite number of exact replicas of me typing on a Macbook right now. There is also an infinite number of exact replicas of me typing on window-based machines right now. There is, generally, an infinite number of exact replicas of me doing an infinite number of different things right now. And that's true for every being in... Continue reading
Posted Feb 3, 2017 at EclectEcon
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After using my snowshoes to lay down a texture on my "canvas" this morning, I then went out to add the highlighting features that show the true nature of what I was trying to accomplish with this piece of art. No line in the entire work was intended to be straight. Each one has a bit of a "warp" to... Continue reading
Posted Jan 29, 2017 at EclectEcon
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With the fresh snow overnight, I was really excited about getting outside to do some more snow stomp art. I had a large plan in mind, and I eagrely dug out my snowshoes for this one. Unfortunately, the wind had blown away much of the snow, and the intricacies of the pattern don't show much, if at all. If you... Continue reading
Posted Jan 29, 2017 at EclectEcon
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We all know the media are biased. We see their biases most clearly whenever they say things or slant things or use loaded terms that are counter to our own personal views. And our perceptions of media bias are influenced by our personal views. There has been a graphic floating around Facebook that, to my mind at least, doesn't recognize... Continue reading
Posted Jan 18, 2017 at EclectEcon
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Last summer I met a number of people in the park playing Pokemon Go. After a short time, I started playing it, too, and I must confess to being slightly addicted/obsessed with the game. So here is my latest snow stomp art. This is for all the friends I have made and all the friends I have interacted with because... Continue reading
Posted Jan 8, 2017 at EclectEcon
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The wind blew away most of the snow before I had a chance to work with it, but Happy New Year, 2017! (note the fine brickwork on clock tower) Links to most of my previous snow-stomp art (in reverse chronological order): Happy New Year, 2017 (this post) O Tannenbaum Nativity Scene Special Weather Statement Think Tropics Qubix Valentine, 2016 Paisley'd... Continue reading
Posted Dec 30, 2016 at EclectEcon
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Another hero in the battles against Nazi anti-semitism. The Washington Post article about her is much more thorough than the Wikipaedia entry. From WaPo, “It was a beautiful spring morning, and it was a street I had known since I had been born, and all of a sudden you see little kids picked up by their pigtails or by a... Continue reading
Posted Dec 21, 2016 at EclectEcon
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I had to wait for the snow to stop and the wind to die down a bit. The surface was a crusty, icy cover over a bunch of snow. Links to most of my previous snow-stomp art (in reverse chronological order): O Tannenbaum (this post) Nativity Scene Special Weather Statement Think Tropics Qubix Valentine, 2016 Paisley'd Circles Happy New Year,... Continue reading
Posted Dec 18, 2016 at EclectEcon
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.... despite the fact that I post very little about economic policy here anymore. I won't provide the link because I don't think the "honour" is worth all that much, but I like the graphic that was sent to me about it: Continue reading
Posted Dec 17, 2016 at EclectEcon
This should alarm or at least concern you. It should also help explain some of Israel's actions over the past 70 years. From this morning's Daily Alert: Ayatollah Khamenei: Israel Won't Exist in 25 Years The Zionist regime will not exist in 25 years provided that Palestinians and other Muslims continue their struggle against the Zionists, Leader of the Islamic... Continue reading
Posted Dec 15, 2016 at EclectEcon