The Fed Can’t Fix Unemployment

April 30, 2011 in business, policy

Mon­e­tary pol­icy had a rare moment in the spot­light this week with Ben Bernake’s press con­fer­ence. Granted, it took the stage right after Obama revealed his birth cer­tifi­cate and right before two peo­ple from Eng­land got mar­ried, but when is mon­e­tary pol­icy ever going to get the nation’s attention?

Before the con­fer­ence, the New York Times ran an arti­cle by David Leon­hardt crit­i­ciz­ing the Fed for not doing more to lower unem­ploy­ment. His posi­tion is based on false premises, and there is no attempt to sup­port them. Read the rest of this entry →

The Case for Twitter

April 10, 2011 in culture

Lately, I have become addicted to Twit­ter. I’m not sure what that makes me. A twit? A twit­te­holic? A twat­head? [insert your own clever joke here]

I never under­stood the util­ity of Twit­ter until I started using it. My impres­sion was that Twit­ter was just a bunch of peo­ple shar­ing every irrel­e­vant detail of their mun­dane lives. For the most part, that is true. To make my point, here are some tweets I just found ran­domly. Read the rest of this entry →

Courtesy and Collective Action

April 8, 2011 in culture

Don’t hold every­one up, just wait for the next train. Also, don’t lose your hand. — my visual translation

One of the toi­let read­ing options at my apart­ment is the 1978 edi­tion of The Amy Van­der­bilt Com­plete Book of Eti­quette. It is filled with help­ful advice on how you should address your letters, monogram your shirts, and throw taste­ful par­ties. The stan­dards advo­cated seem quaint and humor­ous from today’s perspective.

In many ways, the rules of eti­quette seem com­pletely arbi­trary. How can there be a “right” way to eat food or dress? Yet there is sub-set of eti­quette that has a firm intel­lec­tual foun­da­tion — cour­tesy or man­ners. Take Mrs. Vanderbilt’s pas­sage on teach­ing your chil­dren man­ners: Read the rest of this entry →