- "As I have been explaining for over two decades, no honest lender would make liar’s loans…. George Akerlof and Paul Romer…. '[An officer] who is gambling that his thrift might actually make a profit would never operate the way many thrifts did, with total disregard for even the most basic principles of lending: maintaining reasonable documentation about loans, protecting against external fraud and abuse, verifying information on loan applications, even bothering to have borrowers fill out loan applications'…. When a lender fails to follow 'even the most basic principles of lending' it will suffer massive losses. The controlling officers, however, will be made wealthy…. Indeed, Akerlof and Romer stressed that accounting control fraud is a 'sure thing'": Bill Black: WSJ Pines for the Return of Liar’s Loans
- "Use of competition… can only be justified by our not knowing the essential circumstances that determine the behavior of the competitors…. I wish now to consider competition systematically as a procedure for discovering facts which, if the procedure did not exist, would remain unknown or at least would not be utilized": Friedrich Hayek: Competition as a Discovery Procedure
- "As it happens, I have read this paper…. The reader is led to believe that [Ferguson's favorite] five listed reasons are at or near the top of a such list created by Porter and his team. To the contrary, the biggest reason, almost twice as prevalent as anything else, was 'Lower wage rates (in the destination country)'. That would seem to suggest that 'globalization' and 'technology' play a role, which Ferguson shrugs off as irrelevant. The tax system, is sixth down the list and cannot in any way be considered primary": Ashok Rao: The Great Degeneration by Niall Ferguson
- "Thing of those poor, suffering, subjugated knowledges! Text ‘ANTIHUMANIST’ to 9999 to make a donation today!": Hugging the Horse
- "You knew the job was dangerous when you took it, Fred!": Super Chicken
- Felix Salmon: Kill the sticky nav!
- Matthew O'Brien: Yes, Niall Ferguson Knew He Was Playing Three-Card-Monte with the "Wall Street Journal's" Readers via His Misuse of Budget Baselines. Why Do You Ask?
- Sam Wang vs. Nate Silver
- Chuck Todd: "It's Not My Job…"
- Paul Krugman: The War On The Poor Is A War On the--CLANG!!!!!
- Dani Rodrik: The Perils of Premature Deindustrialization
Alexander Hamilton (1774-1782): The Revolutionary Writings | Greg Clark: The Long March of History: Farm Laborer's Wages in England, 1208-1850 | Daniel Alpert and Robert Hockett: The budget is its own ‘debt ceiling’ |
Ignosi | Alan Quatermain and the Skewed Inflation Indexes | The Pho Bar | Barashka | Prairie Weather: Back to Nowheresville | Maureene Groppe: State believes Hoosiers aren't eligible for tax credits under Obamacare | David Fiderer: How Niall Ferguson Invented False Quotes By Paul Krugman | Azizonomics: On Depressions, the Structure of Production & Fiscal Policy | Paul Krugman: The ICT Revolution Isn't Over | Matthew Yglesias: Cleveland Chinese immigration: New people create new jobs |