This week's blog post is a little different.  In it I will introduce a new section to the website.  You will now notice a tab entitled "Flint Crisis" at the top of each page.  In this tab there is a complete analysis of the Flint Water Crisis.  While not immediately obvious, the Flint Water Crisis shares several features with the financial crisis, two in particular; 

When currency was backed by gold, a central bank's main function was to maintain the value of the issued currency in terms of gold.  For example, if a central bank created too much money against the gold reserves in the banking system, an increasing number of people would begin to exchange their currency for gold.  These people would do this out of concern that the increased money sup

There are many examples of the complete dearth of creative talent in Hollywood.  Perhaps the best example is Hollywood's obvious reliance on movie "franchises" and characters developed decades ago.  Just this past week, the number one movie at the box office was the latest iteration of the "Halloween" series of horror movies.  These movies revolve around the terrifyingly enigmati

One of the most distinguishing features of economics as a field of study is the complete failure of economists to learn from their many mistakes.  In science and engineering, theories and design practices are constantly subjected to the acid test of whether they match observed real-world phenomena.  In science and engineering, theories and design practices are not judged on the basis

A few weeks ago the careers - and salaries - of Richard "Whistling Dick" Wright and Hank "The Hammer" Paulson were compared.  Whistling Dick was a mule-skinner and played a significant role in bringing water to Los Angeles.  "The Hammer" was educated at Dartmouth and Harvard, and became CEO of the world's largest investment bank, Goldman Sachs.  It was shown that in spite of his