Rational Irrationality

Great article in the New Yorker about the phenomenon of financial bubbles:

Rational Irrationality

Is Happiness Catching?

A fascinating article about the impact that our real life social networks (not our online ones, although their impact would be interesting to understand as well!) have on our health, happiness, habits, and life in general.

"The subconscious nature of emotional mirroring might explain one of the more curious findings in their research: If you want to be happy, what’s most important is to have lots of friends. Historically, we have often thought that having a small cluster of tight, long-term friends is crucial to being happy. But Christakis and Fowler found that the happiest people in Framingham were those who had the most connections, even if the relationships weren’t necessarily deep ones."

Very cool stuff. Enjoy! Beckmania

Is Happiness Catching?

Capitalism After The Crisis

An excerpt:

"We thus stand at a crossroads for American capitalism. One path would channel popular rage into political support for some genuinely pro-market reforms, even if they do not serve the interests of large financial firms. By appealing to the best of the populist tradition, we can introduce limits to the power of the financial industry — or any business, for that matter — and restore those fundamental principles that give an ethical dimension to capitalism: freedom, meritocracy, a direct link between reward and effort, and a sense of responsibility that ensures that those who reap the gains also bear the losses."

A nice historical look at the history of capitalism in America.

Capitalism After The Crisis

How Did Economists Get It So Wrong?

A long and interesting piece by Paul Krugman about the oscillations between classicism and neoclassicism on the one hand, and Keynsianism on the other. Interesting stuff as we try to figure out the best way to handle fluctuations in a capitalist economy.....Enjoy!

How Did Economists Get It So Wrong?

GDP: RIP

A great article in the NYT about why GDP is terrible as a measure of the well being of a society. Perhaps we should look to Bhutan -they adopted Gross National Happiness a while ago! Enjoy, Beckmania.

GDP: RIP

The Jalopy Economy

An interesting investor letter from Jeffrey Gundlach at TCW Group that discusses the steady rise in credit in the US economy, starting in the Reagan era. It's more data that fortifies the theme that many troubles, both at micro and micro levels, result from the desire to 'have it all without paying for it'. The reality check is painful, isn't it? Enjoy! Beckmania:

Letter From Jeffrey Gundlach

The Capitalist Manifesto: Greed is Good

Another great article from Fareed Zakaria (I feel like I post all of his articles).....a big picture look at the world today......Enjoy! Beckmania

The Capitalist Manifesto: Greed is Good