How Did Economists Get It So Wrong? by a Mr. Paul Krugman in a paper you may have heard of called the New York Times. I'm not going to pretend that I know better than Mr. Krugman, but methinks that those people actually involved with the allocation of capital understand that the market is filled with inefficiencies. Though I think he hits on it when he mentions research that implies that people willing to exploit said inefficiencies must have adequate capital to do so. Though I suppose this is a question for a valuations class.
Football, Statistics, and Agency Problems. From the Baseline Scenario. I believe there was some sort of draft today. Another data point in the "when taking the correct path is offset by the forces of convention and reputation".
A Post Finance Job Market. Ezra Klien. I suppose few people, apart from myself, dream in excel spreadsheets. But it does lead to an interesting question: will the lower salaries for Wall St, coupled with the reduction in status, cause a Renaissance in law schools, med schools, and the like?
FOR THE READERS:
Vanity Fair profiles Henry Paulson. Vanity Fair, from my perspective, has had some of the most compelling reporting over the past year. I will agree with Mr. Purdum that we get much more expressive photographs our of Mr. Paulson, especially compared to Mr. Geithner, who looks like a Keebler Elf.
I suspect I have some Accounting Homework to do.
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