“Deck the Halls with Macro Follies” – Economists sing your favorite holiday carols

December 6, 2012, 7:02 am

Remember the rapping economists we saw here and here?  They’re back!

Just in time for Christmas, EconStories imagines their fantasy Christmas album featuring the classic hits from Keynes, Hayek, and other renown singers you know and love.

Enjoy the greatest collection of economic hits ever aggregated.

 Remember, the only one who has the power to create presents out of thin air is Santa himself.

If you want a few 20 second explanations of how to slow or increase the economy, check out the new interpretations of your favorite songs of the season.

Link, if you need it: http://www.youtube.com/watch?feature=player_profilepage&v=7uKnd6IEiO0#t=41s

hat tip Cafe Hayek

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Posted by Jim Ulvog

A short explanation of why feel good aid might make things worse

April 17, 2012, 9:40 am

In The Broken “Buy-One, Give-One” Model: 3 Ways to Save Toms Shoes author Cheryl Davenport provides a concise description of the underlying problem with the TOMS model.

There’s a huge number of articles out there describing the conceptual issues.  Ms. Davenport has a great recap:

First, the Toms buy-one-give-one model does not actually solve a social problem. Rather, the charitable act of donating a free pair of shoes serves as little more than a short-term fix in a system in need of long-term, multi-faceted economic development, health, sanitation, and education solutions.

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Posted by Jim Ulvog

Lots of things in life are really, really complicated. Sort of like a rain forest.

April 5, 2012, 6:59 am

Some things are exquisitely complicated.  Making changes, fixing problems, or making improvements to such things is really difficult.

Unintended consequences result when you do something simple in a complex system.

Came across a superb illustration of the challenge of dealing with complexity. In his post The Health Care Disaster and the Miseries of Blue, Walter Russell Mead compares the US healthcare system to a jungle ecosystem.

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Posted by Jim Ulvog

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