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From the NY Review of Books, an article entitled Against Economics , which reviews the recent book by Robert Skidelsky . Money and Gove...

Tyler Cowen explains the basics of the Efficient Market Hypothesis. For a deeper exploration, see Tyler Cowen and rationality , which link...

Arnold Kling on the tension between macroeconomics and the Efficient Markets Hypothesis (EMH). I'm surprised this isn't more often ...

Olivier Desbarres is (now former) head of Asia FX strategy at Barclays. Condolences to my friends in finance who have to work with people li...

I particularly like his comments (@13 min or so) on Snake Oil and financial assets. When market participants are exuberant (overly confide...

It looks like Treasury will make a profit on its AIG bailout stake. As I emphasized in 2008, markets were clearly not pricing credit-related...

Amazing new results on iterated prisoner's dilemma (IPD) by Bill Press (Numerical Recipes) and Freeman Dyson . There is something new u...

Bounded rationality even for the most "sophisticated" capital allocators of all: pension funds, wealthy individuals, private wealt...

The excerpt below is from the Kauffman Foundation's report on venture investing. I'd like to see a similar report for hedge and pri...

Mark Thoma points me to an interesting conference: Rethinking Finance . Burton Malkiel's paper defines EMH to mean (roughly) "it...

I highly recommend this podcast discussion between Russ Roberts and John Quiggin (of Crooked Timber ) about Quiggin's recent book Zombi...

Is anyone paying attention to the facts? Do voters' attention spans extend back two years? Can academic economists learn from actual eve...

A contrarian strategy ("the average investor is stupid") would have paid off pretty well over the last decade. Ah, the wisdom of m...

A reader referred me to this excellent paper by Andy Lo and Mark Mueller . Mark and I were both Harvard postdocs at the same time. I seem to...

New Yorker economics correspondent John Cassidy has a very balanced piece about the impact of the credit crisis on thinking at The Chicago ...

Only Nixon could go to China, and only Paul Krugman could write this mea culpa for the discipline of economics. There was a bubble in housi...

Richard Posner writes in the Atlantic. Read the whole thing! I doubt academic economists are to blame for the crisis in any direct sense --...

Paul Krugman rails against Goldman's big quarterly numbers in yesterday's Times. He goes as far as to claim that Goldman's succ...

Some time ago I posted about two MIT-trained former physicists who were sued by Renaissance for theft of trade secrets related to algorithm...

Another great EconTalk podcast , this time a discussion with Alan Meltzer of CMU, a leading expert on monetary policy and the history of th...