Clearly one aspect of that lecture needing work is the importance of signalling: how does one signal effectively and efficiently that one is a good employer/employee, lover, provider, good-time partner, or long-time partner? And what signals should one consider in the evaluation?
A new working paper from the Federal Reserve Board that looks at what role credit scores play in committed relationships suggests that daters might want to start using the metric as well. The researchers found that credit scores -- or whatever personal qualities credit scores might represent -- actually play a pretty big role in whether people form and stay in committed relationships. People with higher credit scores are more likely to form committed relationships and marriages and then stay in them. In addition, how well matched the couple's credit scores are initially is a good predictor of whether they stay together in the long term.
Makes sense to me. If you're in it for a good time, credit scores probably don't matter so much, but if you're in it for a long time, the ability to make credible commitments is likely much more important.
It's Nobel Prize season again. Here are my choices, but these are not predictions about who will win.
I doubt if any of these three is a close candidate, but McCloskey might have the best chance of the three.
The first and only major league baseball game that my dad ever took me to was in the summer of 1952, the New York Yankers visiting the Detroit Tigers. It was a Saturday afternoon game, July 26th.
Mickey Mantle hit a grand slam home run in the first inning. I'd swear it went way back and up in straight-away centre field, but the information from Baseball Reference says it went to left field. If so, it must have been to the upper deck. I remember people around us groaning and oohing and ahhhing all at the same time. And I seem to recall a sort of resigned look on my dad's face.
After that, Detroit pitcher Ted Gray settled down and allowed only two more Yanker runs the rest of the game. Meanwhile the Tigers hit pretty well and managed to tie up the game by the bottom of the 8th inning.
Neither team scored in the 9th or 10th innings. Detroit had a chance to win it in the bottom of the 10th. The bases were loaded with 2 out and slugger Walt Dropo at the plate, but to the dismay of everyone around us, he fouled out to the shortstop to end the inning.
Ted Gray continued pitching for the Tigers and put the Yankers down 1-2-3 in the top of the 11th. I guess pitchers did things like that back then.
In the bottom of the 11th after Groth grounded out, Mapes walked and then Ginsberg doubled, but Mapes couldn't score to end the game. With runners at 2nd and 3rd, the Yanks issued an intentional pass to Kolloway, presumably to set up a force out at home or maybe a double play. I remember my dad (who must not have had a lot of baseball knowledge, which now surprises me) saying, "Why are they walking him? He's not very good."
Ted Gray was due up next, but the Tigers decided he'd had enough and sent Steve (Bud) Souchock to the plate. He hit a long fly ball that barely cleared the LF fence. Grand Slam!
Even if it hadn't been a home run, the Tigers would have scored, but it was SO exciting to be there, to see the home team (sort of -- I grew up in Michigan and was an early Tiger fan) win. I know my dad was really excited, too.
What a great memory, all spurred by some discussions on FB of Virgil Trucks' pitching two no-hitters for Detroit that season.
Digression: Detroit was horrible that season, winning only 50 and losing over 100 games. Aside from winning the two no-hitters he pitched, Trucks went 3-17 in his remaining decisions.
I'm not running for office, so I can say this:
Jobs, schmobs. Moving toward freer trade is not about job gains or job losses; it's about producing more goods and services more efficiently for more people -- i.e. about increasing everyone's consumption possibilities.
Don Boudreaux says it well in his open letter published at Cafe Hayek.
Politicians routinely sell freer trade as a source of net job and export creation. Yet economists since Adam Smith – and ranging across the ideological spectrum from Milton Friedman to Paul Krugman – have consistently rejected such claims as justifications for free trade. Economists understand that freer trade neither increases nor decreases the total number of jobs in an economy. Instead, freer trade changes the kinds of jobs performed in an economy by shifting jobs from industries that are comparatively inefficient to industries that are comparatively efficient.
Likewise, the correct case for freer trade does not depend upon exports growing by more than imports. First, there’s no reason to expect freer trade to result in such an outcome. Second, such an outcome, should it occur, might well be lamentable for it could reveal that investment opportunities at home are consistently less attractive than are investment opportunities abroad.
Canadian agriculture has what is known as "Supply Management". This horrific system limits production and generates quota values worth millions to the farmers who own them.
The problem with supply management is twofold:
In my view, the worst moment during the French debate was listening to five political leaders grovelling over supply management policies in agriculture. Supply management was one of the worst policies brought in during Pierre Elliot Trudeau’s era to support dairy, eggs and poultry farmers by restricting supply. Quotas limit production, leading to higher prices for consumers, especially hitting hardest low income Canadians.
From the Elder of Ziyon, an important contrast:
[T]he murder of the Henkins is like the murders of Mohammed Abu Khdeir or of the Dawabashe family. In those cases the victims were targeted.
And when you compare apples to apples, the difference between the morality of those Zionists h [sic] despises and the Palestinians he loves becomes crystal clear.
Because Israeli society, from the Prime Minister to the people on the street, rose as one to condemn the murder of Abu Khdeir.
Because Israelis raised cash to pay the victims of the Dawabashe arson/murder.
Because the vast majority of Israelis are naturally disgusted and ashamed at the thought that one of their own could be responsible for such depravity.
And how did Palestinians react to the murder of the Henkins? They celebrated. They shot off fireworks. The expressed uniform happiness on Facebook.
I could not find a single Arabic voice in any message board or social media. As of this moment, a single article from Al Quds about the attack - showing the faces of the victims - has 4,500 Likes and 650 Facebook comments, every one uniformly happy that they were murdered.
What does it say about Palestinian society that seemingly no one, from Abbas down to the streets of Nablus, can condemn the murders of the Henkins? What does it say about Palestinian society that the Khaled Abu Toamehs and the Bassam Eids and the Muhammad Zoabis and the Mohammed Dajanis, people who actually think of Jews as human beings, are so rare - and roundly hated?
This is the difference between Israel and its Palestinian neighbors.
This is the difference between a moral society and one that is perverted.
That is the difference between a society that deserves respect and one that demands it.
I am always annoyed when flight attendants go through the nonsense about how to use airplane seatbelts. I'd like to hear some attendant make fun of having to do that. And I also think it would both amusing and interesting to hear the flight attendants launch into a discussion of how and by how much various things reduce the probability of dying or suffering serious injury should there be an accident. This piece in The Economist points out similar issues. [via Tom Palmer]. The opening paragraph:
“GOOD morning, ladies and gentlemen. We are delighted to welcome you aboard Veritas Airways, the airline that tells it like it is. Please ensure that your seat belt is fastened, your seat back is upright and your tray-table is stowed. At Veritas Airways, your safety is our first priority. Actually, that is not quite true: if it were, our seats would be rear-facing, like those in military aircraft, since they are safer in the event of an emergency landing. But then hardly anybody would buy our tickets and we would go bust.
The article continues in a similar vein and is an enjoyable read.
Westjet doesn't quite do that, but it is a fun airline to fly in Canada.
Yesterday I posted this link on my Facebook page to the pictures of some really interesting statues. After we looked at the photos, Ms Eclectic looked around and found two more sets (some repeating the FB link but from different angles) where the locations of the sculptures are identified. Here is the first set of 20. I think my favourite from this set is
There is a second set of twenty from that site as well, and I think they tickle and intrigue me even more.
Given my level of (im)maturity, I really like this one from Prague:
If I were there, of course I would want a photo of me joining the statues (photo'd discreetly, of course).
Earlier today, I received this message from John Lott:
Dear John --
With the horrible shooting at the Oregon community college, we have been very busy doing media. We haven't had a chance to post any of the radio interviews that we have been doing, but I have been on such shows as CNN and NewsMax TV in the US, Al Jazeera's international news broadcast, and Spanish news TV that covers South and Central America. Within hours after the attack, President Obama pushed hard for more gun controls in his talks on Thursday and Friday, but the expanded background checks (requiring private gun sales to go through licensed dealers) that he pushed would not have stopped the attack in Oregon (all the guns were purchased through federally licensed firearm dealers) nor would they have stopped any of the other mass public shootings during his administration.
At some point it would be nice if a reporter would eventually ask the president to point to a single example that his proposed laws would have stopped. [emphasis added]
When I first met the late great Canadian economist, Harry Johnson, he was at a party, railing about how Canada's New Democratic Party (NDP) were opposed to moving toward free trade. He said something like,
How can a party that SAYS it supports the little guy promote policies that do little more than protect small inefficient businesses in Ontario and keep prices higher for all the little people in the country?
The NDP is still at it. From the NatPost,
“You have no mandate to make concessions that could put thousands of well-paid Canadian jobs and the communities that depend on them in peril,” Mulcair wrote to International Trade Minister Ed Fast. “These changes will impact millions of Canadians every day. Your Conservative government has not consulted Canadians on any of them, and you have no mandate to trade them away.”
Keep in mind that freer trade leads to lower prices and gains for all consumers in Canada. If you care about the poor in Canada and if you care about the poor in Asia who will likely be able to earn more as we move toward freer trade, it is hard to oppose the Trans-Pacific Partnership (trade treaty).
Protection from competition is sold as something that protects jobs, but those jobs that are protected don't last long. And the protection is really for businesses that are comparatively less efficient and not very competitive.
According to the calendar that pops up on my computer, today is World Ostomy Day. My best friend, Ms Eclectic, is a cancer survivor and has had an ostomy for over 25 years. I gather Marvin Bush (brother of Jeb and George W) has an ostomy, as does former San Diego Charger place kicker, Rolf Benirschke. For lists of other famous ostomates, see the lists in this forum.
I refuse to support mediocrity and failure in professional sports. I sneer that some people actually think it is somehow desirable to be a "die-hard fan" and spend good money supporting teams that don't win.*
But now that the Trono Blue Jays have started winning so much, I've jumped on the bandwagon. Sure, we watch games (and even visit Rogers Centre Hotel) even when the Jays aren't doing so well, but we watch more games now, and we watch them longer. Also we have bought more stuff with the BJ logo, including shirts for several granddaughters and now this:
We had gone out to try to find an inexpensive folding balcony chair, but then we saw this. It has an insulated pocket on the left arm and drink holder on the right. And the Trono BJ logo! We were hooked.
* From the perspective of stockholders, I see little reason for the Trono Maple Laughs to try to win if they can spend less money on talent and still have so many die-hard fans.
In early August, when Ms Eclectic and I visited the Rogers Centre and watched the Trono Blue Jays defeat the Minnesota Twins, we were delighted that the Blue Jays were finally vying for a play-off spot, albeit the last of two wildcard positions.
Now look where they are: Leading the AL East Division and likely to clinch that spot today. And they are leading the entire American League with a game and a half lead over the Kansas City Royals, which (if they remain #1) will give them home field advantage throughout the playoffs.
Wow. What a change from a mediocre .500 record. The new additions to the team plus the remarkable improvements of some already on the team really seem to have made a difference.
The Toronto Star thinks so. Here's today's editorial cartoon:
From David Hirsh at Engage,
Labour leaders usually address both Labour Friends of Palestine and Labour Friends of Israel (LFI) fringe meetings at Conference. Corbyn had a particular job to do at LFI: he needed to reassure the Jewish community and antiracists that he understands what it is about his record that is so concerning:
He has presented a show on Press TV, Iran’s propaganda channel. Iran wants Israel wiped off the map and has a public policy of Holocaust Denial.
Corbyn is a Patron of the “Palestine Solidarity Campaign” whose main business is to fight for a boycott of Israel. Corbyn has reaffirmed his support for the Boycott Divestment and Sanctions campaign against Israel as recently as August 2015.
Corbyn has referred to Hamas and Hezbollah as “friends” and he said that they are dedicated to the good of the Palestinian people and to social and political justice in the Middle East.
Corbyn has jumped to the defence of antisemites, Raed Salah who indulged in medieval blood libel and Stephen Sizerwho said that Israel was behind 9/11. He continued to support “Deir Yassin Remembered” even when it was well known that it was run by a Holocaust Denier. He has said that those who have raised these issues are making personal smears, not political criticism.
Corbyn sometimes says that he is for a two state solution but he also says, in a coded disavowal of such a solution, that the Palestinian right to return was “the key” to a solution.
So what did he say at the LFI meeting?
He refused to utter the word “Israel”. He refused to say that he was for the right of Israel to exist, even within the ’67 borders. [emphasis added]
It is difficult to say that Israel has a right to exist and not also grant it some other options to defend itself. I really have to wonder if Jeremy Corbyn is so anti-Israel that he thinks it has no right to exist. I suspect he is and does.
Everyone in SW Ontario (and maybe Canada) is touting Josh Donaldson, 3B for the Trono BJs, for AL MVP. I love watching him play, and he is clearly a very strong contender.
But Mike Trout, CF for the California Angels, has been very good, too. Here is a comparison of the stats (as of Monday evening) that might be relevant:
OPS (on base percentage plus slugging average), all positions:
Trout is first in the AL at .983
Donaldson is third at .951
Both OPSs are excellent, but a 32-point differential is fairly substantial.
There aren't any good readily available stats on defence at the MLB site. Here are two that are available, but since they play different positions, the comparison is with others at the same position: Fielding percentage and Range Factor.
Trout is tied for 1st in fielding percentage among AL centre-fielders. He has made noerrors. However, he is only 4th of 11 in Range Factor.
Donaldson is only 8th of 12 in fielding percentage for third basemen in the AL. However, he is 2nd in Range Factor.
These stats are consistent with what I have seen: Donaldson makes a lot of plays, many of them electrifying. He gets to more balls and makes more plays than most 3B.
Trout is no slouch in the field, though (I'm thinking, for instance, of the HR he stole last night, going high over the CF wall). He likely isn't quite as good defensively, but it's close.
As an unabashed BJ fan, I'd love to see Donaldson win the MVP. But unless things change substantially over the last 7 games of the season, I think BJ fans had better be prepared for some disappointment here. Trout will likely win the award.
Yup I agree with them both.
Right on both counts! From Maclean's,
During a testy phone call, Justin Trudeau dismissed David Suzuki’s views on the Liberal climate change policy as “sanctimonious crap,” according to Suzuki. Suzuki revealed the contents of the conversation during an interview on SiriusXM’sEverything is Political with Evan Solomon. Suzuki says he fired back, calling Trudeau a “twerp.”
My former student David Henderson posted about what he loves about teaching economics. It is a beautiful posting. It captures so much about what I loved when I was teaching.
Another excerpt [from a posting by Steven Landsburg about Dierdre McClosky]:Rising food prices or rising oil prices can't explain inflation, at least not by the mechanisms most people imagine. A frost in Florida won't cause a shortage of oranges. When there's an increase in the price of steel, car prices will rise by less if the auto industry is monopolized than if the auto industry is competitive--though several members of the president's Council of Economic Advisors had believed otherwise.
Steven's whole piece reminded me of why I'm looking forward, at age 64, to starting my new class next week. I never tire of teaching some of the things mentioned above...
One of the things I tell my students, whose median age is about 31 and who (at least many of them) have seen more of the world than I have, is "you'll learn things you never knew you never knew."
Then between the first and second hours of class, to bring them back into the room, I play this song by Norah Jones. And no, I'm not saying that I will kiss my students. (I do hug.) It's just my way of communicating that we're going to go on a wonderful adventure together. [emphasis added. What a great way to think about teaching price theory!]
From every article I have read, it seems pretty clear that Volkswagon cheated by installing devices that would detect when their cars were being test for emissions by the EPA.
But here's a puzzle: This cheating was detected nearly a year and a half ago! [see this]
Granted, Huffington Post has a reputation of not being entirely reliable among some circles, but I'm guessing this report is accurate.
If it IS accurate, what took so long? Why has this information not be disseminated widely before now? What did VW do, if anything, to slow its dissemination? And given they new these results, did VW keep cheating after learning of them? And if so, what kind of stupid is that?
If I had bought one of these vehicles, I'd want a full refund and then some.
And why would anyone buy a VW now? .... well, maybe if I were in the market I'd consider one at half price...
My friend, Ted Frank at the Centre for Class Action Fairness will surely have an interest in this situation. Perhaps as many as 11 million car owners who will now have to bear huge expenses and and/or inconveniences as VW tries to fix the situation, likely by reducing gas mileage and torque on the diesels.
At this time tomorrow, I will be on my way from London, Ontario, to Muskegon, Michigan, the town where I was born and raised.
Every fall, for the high school homecoming football game, all the alumni of the high school marching band are invited back to join the current marching band to participate in the pre-game and half-time festivities. Someone tells me this has been going on for nearly 40 years, but I started going only about ten or so years ago.
I have made it back for only about four or five of these events in the past ten years. But for this year, I made sure I had no other commitments for the homecoming game because I have made so many friends during these band reunions and have renewed so many other friendships.
*The Muskegon Big Reds have four school songs.