The Economic Recovery: A Novel Perspective from Ed Leamer

The Best Advice Fama Got

Here.

With formal statistics, you say something -- a hypothesis -- and then you test it. Harry always said that your criterion should be not whether or not you can reject or accept the hypothesis, but what you can learn from the data. The best thing you can do is use the data to enhance your description of the world. That has been the guiding light of my research. You should use market data to understand markets better, not to say this or that hypothesis is literally true or false. No model is ever strictly true. The real criterion should be: Do I know more about markets when I'm finished than I did when I started? Harry's lesson is one that I've passed on to my students over the 49 years that I've been a teacher.

Creativity and Discipline

Why tough teachers get good results? from WSJ.

I like this:

"Meanwhile, American students struggle with complex math problems because, as research makes abundantly clear, they lack fluency in basic addition and subtraction—and few of them were made to memorize their times tables."

"The bottom line, Prof. Weisberg told me, is that creativity goes back in many ways to the basics. "You have to immerse yourself in a discipline before you create in that discipline. It is built on a foundation of learning the discipline, which is what your music teacher was requiring of you."

Open-Government Laws Fuel Hedge-Fund Profit

Information can make money, even the public information. From WSJ.

Ukraine's Trouble Hit Bonds

From WSJ.

America's Toilet Turnaround

From WSJ.

Energy issues from WSJ

Six myths about renewable energy.

Oil firms seek to unlock big California field.

Chinese demand for coal is cooling.

The Long and Sorry Tale of Pension Promises

How did states and cities get into this mess? It's a simple case of human frailty; where to go from here.
From WSJ.

A Nation Built for Immigrants

From WSJ.
Will the recent surge of newcomers tear the U.S. apart? Not if history is any guide: From the beginning, America was made to unite citizens, even those with deep differences.

U.S. Textile Plants Return, With Floors Largely Empty of People

From NYT.

How the Tesla Model S is Made?

A pretty cool factory. Video here.

The Fed Makes a Mistake

My colleague, David, made a comment on the recent decision of the Fed.

Heckman on Early Childhood Education

Lifelines for poor children form NYT.

Bunnies talk about QE

With surprising no tapering today, I remembered this funny video about QE first released in 2010.
Here.

Top 200 Economics Blogs

Here.

-	1. The Conscience of a Liberal		100.0	100.0	1.2
New Entry ★	2. Economix		61.7	64.9	1.1
New Entry ★	3. FT Alphaville		60.8	52.0	1.4
New Entry ★	4. Vox		57.4	56.5	1.2
2 ↓	5. Marginal Revolution		53.1	63.4	1.0
2 ↓	6. Brad Delong		50.8	61.3	1.0
5 ↓	7. Economist’s View		50.6	62.8	1.0
9 ↑	8. Zero Hedge		49.0	57.7	1.0
2 ↓	9. Naked Capitalism		40.4	48.0	1.0
4 ↓	10. Econbrowser		36.2	42.0	1.0
-	11. The Big Picture		35.9	42.6	1.0
2 ↓	12. EconLog		35.9	45.3	0.9
4 ↓	13. The Money Illusion		30.2	48.0	0.7
9 ↓	14. Greg Mankiw’s Blog		30.1	36.6	1.0
5 ↑	15. Economic Policy Institute		28.7	35.7	0.9
3 ↓	16. Calculated Risk		28.6	25.5	1.3
23 ↑	17. Next New Deal		26.2	24.0	1.3
New Entry ★	18. On the Economy		25.1	33.3	0.9
4 ↓	19. Crooked Timber		24.5	26.4	1.1
6 ↓	20. Freakonomics		23.4	32.4	0.8