From the Department of You Can't Make This Up:
‘The investigation found that the chapter, titled “Dishonesty Explained: What Leads Moral People to Act Immorally,” borrowed extensively from 10 other works, including academic papers and student theses.’ thecrimson.com/article/2024/4…

Professor at U-M Economics Justin Wolfers, PhD '01, says the 2024 economy is larger, more productive, and will yield higher average incomes than in any prior year on record in American history. buff.ly/49jIe1l

The income and substitution effects are roughly equal (but opposite, hence offsetting).

The most important economic question right now is how sustainable the current economic expansion is.

The most important economic question right now is how sustainable the current economic expansion is.

I've learned the hard way that people react badly to any hint of optimism from an economist. If that's you, don't watch this clip because I don't want to annoy you.

Lemme tell you about what's going on with wages (and compare it to what's happening to prices).

Lotta responses to this noting that the rich also gamble, but through financial markets. True, but those are typically positive sum expected value bets, while the government takes 30 cents out of every dollar wagered on the lottery.

I devote a session in my into econ class to price discrimination, and this lovely article provides a natural bridge to dynamic pricing. Fascinating stuff, pitched at the perfect level for our students. #TeachEcon

What happens when the demand curve shifts to the right, and supply is vertical?
[Source: nytimes.com/2024/04/04/ups…]

Economist Jon Levin named next President of Stanford.

Congratulations, Jon!
news.stanford.edu/report/2024/04…

“In the poorest 1% of zip codes that have lottery retailers, the average American adult spends around $600 a year, or nearly 5% of their income, on tickets. That compares with just $150, or 0.15%, for those in the richest 1% of zip codes.”
economist.com/graphic-detail…

we need a keynes biopic with nicolas cage as keynes

“when share owners lend their stock to a short-seller, they charge a fee, usually expressed as an annual interest rate on the stock’s current value. Typically, the fee for borrowing stock is a fraction of a %-point. For Trump Media, it has risen to 550%.” nytimes.com/2024/04/03/bus…

'Psychologists describe anxiety disorders as occurring when the panic you feel is out of proportion to the danger you face. By this definition, we’re in the midst of a macroeconomic anxiety attack.' nytimes.com/2024/04/02/opi…

Digging into the psychology of inflation.

My latest The New York Times op-ed explains our current macroeconomic anxiety attack, and playing my role as economist-as-therapist, I give some advice on how to put in better perspective: nytimes.com/2024/04/02/opi…

Thing is, when you’re handling billions of other people’s dollars, it's on you to find out what you can do with them.