Wednesday, October 28, 2009

Monday, October 12, 2009

"It is part of the merging social science"

Nobel Prize 2009 for economics are for: Elinor Ostrom and Oliver Williamson, one political scientist and one economist.
The challenge is to design institutions, mechanisms and incentives that move us in the right direction.


Economics is not really fundamentally about markets, but about resource allocation and distribution problems. Markets appear because they operate effectively to handle a subset of these resource allocation challenges.

And Andrew Lo, who proposes the adaptive market hypothesis says EMH is not incorrect, it's just a part of a puzzle.

Wednesday, October 07, 2009

philosophy and economics

There should be a correlation between these two.

A study can be carried out to examine the link between different philosophies on the economy and personal income. i.e., G.W. in the Fountainhead who can sell his soul or those who are students of Ayn Rand versus Socrates, Des Cartes, Spinoza,... and Buddhists.