<?xml version="1.0" encoding="UTF-8"?>
<?xml-stylesheet type="text/xsl" media="screen" href="/~d/styles/rss2titles.xsl"?><?xml-stylesheet type="text/css" media="screen" href="http://feeds.feedburner.com/~d/styles/itemtitles.css"?><rss xmlns:media="http://search.yahoo.com/mrss/" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:creativeCommons="http://backend.userland.com/creativeCommonsRssModule" xmlns:feedburner="http://rssnamespace.org/feedburner/ext/1.0" version="2.0"><channel><title>Curious</title><link>http://culturefusion.blogspot.com/</link><description>Socio-economic commentaries as often as possible.</description><language>en</language><managingEditor>noreply@blogger.com (Curious)</managingEditor><lastBuildDate>Sun, 13 Sep 2009 09:34:49 PDT</lastBuildDate><generator>Blogger http://www.blogger.com</generator><openSearch:totalResults xmlns:openSearch="http://a9.com/-/spec/opensearchrss/1.0/">74</openSearch:totalResults><openSearch:startIndex xmlns:openSearch="http://a9.com/-/spec/opensearchrss/1.0/">1</openSearch:startIndex><openSearch:itemsPerPage xmlns:openSearch="http://a9.com/-/spec/opensearchrss/1.0/">25</openSearch:itemsPerPage><itunes:owner><itunes:email>noreply@blogger.com</itunes:email></itunes:owner><itunes:explicit>no</itunes:explicit><itunes:subtitle>"Although markets do tend toward rational positions in the long run, the market can stay irrational longer than you can stay solvent." - John Maynard Keynes</itunes:subtitle><creativeCommons:license>http://creativecommons.org/licenses/by/2.0/</creativeCommons:license><image><link>http://creativecommons.org/licenses/by/2.0/</link><url>http://creativecommons.org/images/public/somerights20.gif</url><title>Some Rights Reserved</title></image><atom10:link xmlns:atom10="http://www.w3.org/2005/Atom" rel="self" href="http://culturefusion.blogspot.com/" type="application/rss+xml" /><feedburner:browserFriendly>Man has almost constant occasion for the help of his brethren, and it is in vain for him to expect it from their benevolence only. He will be more likely to prevail if he can interest their self-interests in his favour, and show them that it is for their own advantage to do for him what he requires of them. It is not from the benevolence of the butcher that we expect our dinner, but from his regard for his own interest (psychological rewards, economic and other non-economic gains).</feedburner:browserFriendly><atom10:link xmlns:atom10="http://www.w3.org/2005/Atom" rel="hub" href="http://pubsubhubbub.appspot.com" /><item><title>How long for Turkey? How long's a piece of string?</title><link>http://feedproxy.google.com/~r/Curious/~3/0DRJ_0Q8DY4/how-long-for-turkey-how-longs-piece-of.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Sat, 24 Feb 2007 14:17:37 PST</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-116483287904292457</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>Turkey should be part of the EU by now; it is a very important/strategic member of NATO and is important for security.

My view of Turkey is that it continues to perform well as an economy. Its...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/11/how-long-for-turkey-how-longs-piece-of.html</feedburner:origLink></item><item><title>Coming soon......Turkey and EU accession</title><link>http://feedproxy.google.com/~r/Curious/~3/olFGvm6faEI/coming-soonturkey-and-eu-accession.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Tue, 21 Nov 2006 05:40:12 PST</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-116411641252254144</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>My views on this debate will be posted shortly.....
Image from www.europeunited.orgThese are just views with the caveat that reality is...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/11/coming-soonturkey-and-eu-accession.html</feedburner:origLink></item><item><title>Been away for a while</title><link>http://feedproxy.google.com/~r/Curious/~3/CU3DghheZkE/been-away-for-while.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Sat, 21 Oct 2006 03:14:27 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-116142566740330915</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>Hello people,
Apologies for the long period of silence. I have been incredibly busy but will be back very soon.

Keep blogging.
CuriousThese are just views with the caveat that reality is...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/10/been-away-for-while.html</feedburner:origLink></item><item><title>Development summarised (somewhat)</title><link>http://feedproxy.google.com/~r/Curious/~3/Gjzp9Uo-RRc/development-summarised-somewhat.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Fri, 11 Aug 2006 10:27:45 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115531178843361006</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">1</thr:total><description>I saw this link this at C'est vrai. Absolutely fantastic. The World Bank and IMF should watch this (and probably NGOs).

It is a cartoon book that summarises the western development idea and the real...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/08/development-summarised-somewhat.html</feedburner:origLink></item><item><title>The status quo principle and the Middle East</title><link>http://feedproxy.google.com/~r/Curious/~3/cLYSqzl2bHM/status-quo-principle-and-middle-east.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 07 Aug 2006 03:53:59 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115494803959420163</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>Catallaxy writes an interesting peice, illuminating various schools of ideas surrounding the middle east crisis. Some excerpts are as follows:"The west exported Marxism and nationalism to the rest of...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/08/status-quo-principle-and-middle-east.html</feedburner:origLink></item><item><title>Good people do nothing</title><link>http://feedproxy.google.com/~r/Curious/~3/paHgThCpB4Q/good-people-do-nothing.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Tue, 01 Aug 2006 02:58:34 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115442608838024218</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>"All that is necessary for evil to succeed is that good men do nothing." Edmund Burke Alexcia write's a refreshing piece covering the Israel-Lebanon crisis, amongst other issues. The post starts:"As...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/08/good-people-do-nothing.html</feedburner:origLink></item><item><title>WTO chit chat - ad nauseam!!!</title><link>http://feedproxy.google.com/~r/Curious/~3/JntX3qnGG74/wto-chit-chat-ad-nauseam.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Fri, 28 Jul 2006 09:30:34 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115374771635197615</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">1</thr:total><description>Why, oh why do we still have trade rounds??????&gt;This is one issue in which the outcome is known by even the most illiterate in the remotest part of the world. Today's Financial Times provides an...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/07/wto-chit-chat-ad-nauseam.html</feedburner:origLink></item><item><title>Dollar safe haven? I don't think so!!</title><link>http://feedproxy.google.com/~r/Curious/~3/CCHbHffFM3Q/dollar-safe-haven-i-dont-think-so.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Fri, 21 Jul 2006 09:13:04 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115348833424677724</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>Yes ! the dollar has gained some strength on the back of more risk aversion.Yes ! interest rate arbitrage continues to be a big determinant in which currency will underlie investments.My view is that...&lt;br/&gt;
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&lt;a href="http://feeds.feedburner.com/~ff/Curious?a=CCHbHffFM3Q:cm40iTZomjY:yIl2AUoC8zA"&gt;&lt;img src="http://feeds.feedburner.com/~ff/Curious?d=yIl2AUoC8zA" border="0"&gt;&lt;/img&gt;&lt;/a&gt; &lt;a href="http://feeds.feedburner.com/~ff/Curious?a=CCHbHffFM3Q:cm40iTZomjY:dnMXMwOfBR0"&gt;&lt;img src="http://feeds.feedburner.com/~ff/Curious?d=dnMXMwOfBR0" border="0"&gt;&lt;/img&gt;&lt;/a&gt; &lt;a href="http://feeds.feedburner.com/~ff/Curious?a=CCHbHffFM3Q:cm40iTZomjY:7Q72WNTAKBA"&gt;&lt;img src="http://feeds.feedburner.com/~ff/Curious?d=7Q72WNTAKBA" border="0"&gt;&lt;/img&gt;&lt;/a&gt;
&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/07/dollar-safe-haven-i-dont-think-so.html</feedburner:origLink></item><item><title>Validated - flow of investor funds into poor countries</title><link>http://feedproxy.google.com/~r/Curious/~3/9L-cvfuWO0M/validated-flow-of-investor-funds-into.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 07 Aug 2006 17:39:36 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115261268979082269</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">1</thr:total><description>Well, the ink is barely dry (metaphorically) on the recent piece that I wrote titled Political uncertainty - a money machine, where I highlighted that poor countries will very soon find themselves...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/07/validated-flow-of-investor-funds-into.html</feedburner:origLink></item><item><title>Pic of the week - wimbledon?</title><link>http://feedproxy.google.com/~r/Curious/~3/1E8QE36wZ8w/pic-of-week-wimbledon.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Fri, 07 Jul 2006 05:24:29 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115227450133368247</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>Click to enlarge From the Econimist magazineThese lot aren't seeded, but it's just a matter of time.... These are just views with the caveat that reality is...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/07/pic-of-week-wimbledon.html</feedburner:origLink></item><item><title>Political uncertainty - a money machine</title><link>http://feedproxy.google.com/~r/Curious/~3/_rgX9PVrBjQ/political-uncertainty-money-machine.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 10 Jul 2006 09:14:18 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115219565976782473</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">1</thr:total><description>The first priority for developed countries was to maximise their own growth, achieve high levels of prosperity, enviable living standards, high standards of education, etc. Heavy protectionism is...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/07/political-uncertainty-money-machine.html</feedburner:origLink></item><item><title>Inflation oversight goes a long way</title><link>http://feedproxy.google.com/~r/Curious/~3/x_ghOgBpKlc/inflation-oversight-goes-long-way.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 03 Jul 2006 09:10:36 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-115194007027761126</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>So the global economy has had broad money supply (M3) growth outstripping money GDP growth since the year 2000. The outcome is not rocket science. &gt;
What happens when there is excess liquidity in the...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/07/inflation-oversight-goes-long-way.html</feedburner:origLink></item><item><title>The cost of the Iraq war, in context</title><link>http://feedproxy.google.com/~r/Curious/~3/QzbTU4V9ilI/cost-of-iraq-war-in-context.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 22 May 2006 08:17:14 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114831065174978229</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><enclosure url="http://specials.ft.com/spdocs/MW_Col_jan13_2006.mp3" length="7643738" type="audio/mpeg" /><media:content url="http://specials.ft.com/spdocs/MW_Col_jan13_2006.mp3" fileSize="7643738" type="audio/mpeg" /><itunes:explicit>no</itunes:explicit><itunes:subtitle>By Martin Wolf of the Financial Times. Definitely worth a read, but if you haven't got a subscription, listen to his free podcast here instead."Before the Iraq war began, Lawrence Lindsey, then president George W. Bush’s economic adviser, suggested that t</itunes:subtitle><itunes:author>noreply@blogger.com (Curious)</itunes:author><itunes:summary>By Martin Wolf of the Financial Times. Definitely worth a read, but if you haven't got a subscription, listen to his free podcast here instead."Before the Iraq war began, Lawrence Lindsey, then president George W. Bush’s economic adviser, suggested that the costs might reach $200bn. The White House promptly fired him. Mr Lindsey was indeed wrong. But his error lay in grossly underestimating the costs. The administration’s estimates of a cost of some $50-$60bn were a fantasy, as were Saddam Hussein’s weapons of mass destruction, and much else."Listen here These are just views with the caveat that reality is fluid. http://culturefusion.blogspot.com http://culturefusion.blogspot.com/atom.xml</itunes:summary><description>By Martin Wolf of the Financial Times.
&gt;
Definitely worth a read, but if you haven't got a subscription, listen to his free podcast here instead."Before the Iraq war began, Lawrence Lindsey, then...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/05/cost-of-iraq-war-in-context.html</feedburner:origLink></item><item><title>Hands off the internet</title><link>http://feedproxy.google.com/~r/Curious/~3/-REVONS--uA/hands-off-internet.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 22 May 2006 07:15:15 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114830731594907803</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>Click here to watch a very short flash presentation about how regulation is attempting to change the internet. If you blog, etc, it affects you because it may eventually affect your [civil] rights...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/05/hands-off-internet.html</feedburner:origLink></item><item><title>Teleshopping - guns for sale !!</title><link>http://feedproxy.google.com/~r/Curious/~3/gyb7EriHADo/teleshopping-guns-for-sale.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 22 May 2006 07:20:10 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114830486970311902</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>This is a poignant illustration by Oxfam. If it comes across as ridiculous (the concept of it), then the sad truth is that for those that deal in arms trade, it is as simple/ridiculous as what you...&lt;br/&gt;
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&lt;a href="http://feeds.feedburner.com/~ff/Curious?a=gyb7EriHADo:k998Ct4_ae0:yIl2AUoC8zA"&gt;&lt;img src="http://feeds.feedburner.com/~ff/Curious?d=yIl2AUoC8zA" border="0"&gt;&lt;/img&gt;&lt;/a&gt; &lt;a href="http://feeds.feedburner.com/~ff/Curious?a=gyb7EriHADo:k998Ct4_ae0:dnMXMwOfBR0"&gt;&lt;img src="http://feeds.feedburner.com/~ff/Curious?d=dnMXMwOfBR0" border="0"&gt;&lt;/img&gt;&lt;/a&gt; &lt;a href="http://feeds.feedburner.com/~ff/Curious?a=gyb7EriHADo:k998Ct4_ae0:7Q72WNTAKBA"&gt;&lt;img src="http://feeds.feedburner.com/~ff/Curious?d=7Q72WNTAKBA" border="0"&gt;&lt;/img&gt;&lt;/a&gt;
&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/05/teleshopping-guns-for-sale.html</feedburner:origLink></item><item><title>Answer to Asia’s rise is not to retreat</title><link>http://feedproxy.google.com/~r/Curious/~3/ndbKtWhPo0U/answer-to-asias-rise-is-not-to-retreat.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 22 May 2006 07:51:57 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114830342426805239</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><enclosure url="http://specials.ft.com/spdocs/MW_jan17_2006.mp3" length="6983210" type="audio/mpeg" /><media:content url="http://specials.ft.com/spdocs/MW_jan17_2006.mp3" fileSize="6983210" type="audio/mpeg" /><itunes:explicit>no</itunes:explicit><itunes:subtitle> Martin Wolf of the Financial Times presents (in a podcast) the facts about how developed economies should respond to up and coming Asian economies. It is refreshing, and he utilises basic pure economic argument that is literally common sense, to explain </itunes:subtitle><itunes:author>noreply@blogger.com (Curious)</itunes:author><itunes:summary> Martin Wolf of the Financial Times presents (in a podcast) the facts about how developed economies should respond to up and coming Asian economies. It is refreshing, and he utilises basic pure economic argument that is literally common sense, to explain the pros and cons. To quote him on another of his podcasts (Tyranny of vested interests), the [simple] solutions to the challenges posed are deemed easy to achieve, which couldn't be farther from the truth. The tyranny of vested interests is a heading that fits perfectly over the current developed world stance, vis-à-vis emerging and poor countries.Listen to his other podcasts hereOne theme that keeps precipitating in my research is that we [in the world] are now well knowledgeable about what holds us back, the threats to globalisation, international integration and the lot of it. The forces of vested interests that distort world trade and subsequently incomes, etc, and the vested interests behind corruption within poor countries are behemoths that are difficult to breakdown and eliminate. This has been explained ad nauseum.It appears that the modus operandi is for a politician or celebrity to come along, every now and again, to remind us of the consequences of our inward vision and inaction, often with an agenda of their own. It is refreshing when an economic heavyweight such as Mr Wolf reminds everybody that the solutions are not rocket science, they just lack support. As simple as that, but how do you effectively generate consistent support?These are just views with the caveat that reality is fluid. http://culturefusion.blogspot.com http://culturefusion.blogspot.com/atom.xml</itunes:summary><description>Martin Wolf of the Financial Times presents (in a podcast) the facts about how developed economies should respond to up and coming Asian economies. It is refreshing, and he utilises basic pure...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/05/answer-to-asias-rise-is-not-to-retreat.html</feedburner:origLink></item><item><title>Dollar - appreciating or depreciating?</title><link>http://feedproxy.google.com/~r/Curious/~3/lCx1KrJXapA/dollar-appreciating-or-depreciating.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Mon, 22 May 2006 01:51:23 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114803664675138921</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>The markets are confusing many, myself included. This is a time when even seemingly positive information is working against the respective home currency for "other" reasons. Let me explain. 
When the...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/05/dollar-appreciating-or-depreciating.html</feedburner:origLink></item><item><title>So, why are economists different?</title><link>http://feedproxy.google.com/~r/Curious/~3/HgWlWQXBg1E/so-why-are-economists-different.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Wed, 03 May 2006 06:32:08 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114433355981716340</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">1</thr:total><enclosure url="http://www.vwa.unisg.ch/RePEc/usg/dp2004/dp18_kir.pdf" length="279931" type="application/pdf" /><media:content url="http://www.vwa.unisg.ch/RePEc/usg/dp2004/dp18_kir.pdf" fileSize="279931" type="application/pdf" /><itunes:explicit>no</itunes:explicit><itunes:subtitle>...because they do it in an edgeworth box. Sorry, I couldn't resist!! So, here's a paper that explores why economists are different from the rest of society. I don't know where I stand on it, because I found the conclusion somewhat leaning towards an apol</itunes:subtitle><itunes:author>noreply@blogger.com (Curious)</itunes:author><itunes:summary>...because they do it in an edgeworth box. Sorry, I couldn't resist!! So, here's a paper that explores why economists are different from the rest of society. I don't know where I stand on it, because I found the conclusion somewhat leaning towards an apologetic stance. See what you make of it (pdf): Why economists are different from MahalanobisThese are just views with the caveat that reality is fluid. http://culturefusion.blogspot.com http://culturefusion.blogspot.com/atom.xml</itunes:summary><description>...because they do it in an edgeworth box.

Sorry, I couldn't resist!!

So, here's a paper that explores why economists are different from the rest of society. I don't know where I stand on it,...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/04/so-why-are-economists-different.html</feedburner:origLink></item><item><title>Efficiency bias</title><link>http://feedproxy.google.com/~r/Curious/~3/R_JiGa9E9Ms/efficiency-bias.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Wed, 05 Apr 2006 03:10:04 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114416383951540156</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">3</thr:total><description>Chris Dillow (author of Investors Chronicle page 42 comment, and Stumbling and mumbling blog) asked in the Investors Chronicle dated 31st Mar - 6th April, why people don't believe that markets are...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/04/efficiency-bias.html</feedburner:origLink></item><item><title>The truth is stranger than fiction</title><link>http://feedproxy.google.com/~r/Curious/~3/gr1IbVOaW9s/truth-is-stranger-than-fiction.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Fri, 31 Mar 2006 04:07:31 PST</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114380644048927406</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>What is the biggest threat to globalisation and an increase in social welfare? You and me! &gt;
(NB: The above conclusion did not require any econometric regressions or cointegration. The magic...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/03/truth-is-stranger-than-fiction.html</feedburner:origLink></item><item><title>Work ethic? What work ethic?</title><link>http://feedproxy.google.com/~r/Curious/~3/C6_zOAxHP1s/work-ethic-what-work-ethic.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Tue, 28 Mar 2006 01:41:49 PST</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114353890981138378</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">1</thr:total><description>These are just views with the caveat that reality is fluid.
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/03/work-ethic-what-work-ethic.html</feedburner:origLink></item><item><title>You get what you pay for?</title><link>http://feedproxy.google.com/~r/Curious/~3/GvVe1ZOEGRw/you-get-what-you-pay-for.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Wed, 29 Mar 2006 02:58:58 PST</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114312974930479117</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><enclosure url="http://pricetheory.uchicago.edu/levitt/Papers/LevittSyverson2004.pdf" length="1374936" type="application/pdf" /><media:content url="http://pricetheory.uchicago.edu/levitt/Papers/LevittSyverson2004.pdf" fileSize="1374936" type="application/pdf" /><itunes:explicit>no</itunes:explicit><itunes:subtitle>See this interesting paper by Freakonomics (pdf) about how estate agents exploit informational asymmetry to their advantage and at the expense of their clients. I suppose this finding is consistent with the belief that there is a positive correlation betw</itunes:subtitle><itunes:author>noreply@blogger.com (Curious)</itunes:author><itunes:summary>See this interesting paper by Freakonomics (pdf) about how estate agents exploit informational asymmetry to their advantage and at the expense of their clients. I suppose this finding is consistent with the belief that there is a positive correlation between the amount of money we pay for goods and services, and increasing quality. But, go into google and type in "you get what you pay for" and you'll get an endless number of sites, most selling pricey products. The truth of the matter is, however, that the statement "you get what you pay for", is as valid or as invalid as the statement, "you'll never get what you paid for", because both are dependent on an individual's expectations of the benefits of a certain product or service. Neither is fact! In so saying, I appreciate that there is a far greater tendency for people to say that you'll get what you paid for than to say the opposite. This is a cashable concept that allows sellers to play with the reservation prices of their consumers, without needing to know what their consumers' absolute price ceilings are. People would rather believe that when they pay for something, it will be quality. For instance, when seeking financial advice, as a result of paying it, customers attach an immediate value to it. They then believe that it is superior to public-domain information and will, as a result, over-appreciate it. What about paying for mediocre services and goods? I have come across TVs that are supposed to be high spec, but their technological attributes are apparently not noticeable to the naked eye? Then what good is the product? But the shopkeeper replies that my comfort should lie in the knowledge that I am paying for quality and I will get what I pay for. I should have asked him, "what about government officials who don't do their jobs properly?" I have already paid for their services in my taxes. Granted, when dealing in areas where knowledge is limited, consumers in general would rather risk being conned under the guise of quality advice than listen to people who – they think – don’t value their own advice enough to charge for it. The flip-side to that is that there are many companies out there that will charge so that they can reveal to you that the sky is blue. After all, it is not illegal and you can – after you’ve been charged – dismiss the "advice". Consider that in believing in always getting what you pay for, you’ll have a bias towards paying more for perceived quality, and when the quality aspect disappoints, you’ll have a bias for believing that it was one-off bad luck, as a form of self comforting. Essentially, as a consumer, you develop a habit of paying over the odds for goods and services, which then concludes that you're actually not getting what you paid for, you're getting less, an outcome that is a complete opposite of the initial intention. Conclusion: Through consumers at large believing in always getting what they pay for, the opposite becomes true, as unscrupulous arbitrageurs appear to take advantage of this bias, something that is second nature to humans.These are just views with the caveat that reality is fluid. http://culturefusion.blogspot.com http://culturefusion.blogspot.com/atom.xml</itunes:summary><description>See this interesting paper by Freakonomics (pdf) about how estate agents exploit informational asymmetry to their advantage and at the expense of their clients. I suppose this finding is consistent...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/03/you-get-what-you-pay-for.html</feedburner:origLink></item><item><title>UK budget 2006</title><link>http://feedproxy.google.com/~r/Curious/~3/JU0e8c-yv0I/uk-budget-2006.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Wed, 22 Mar 2006 08:48:47 PST</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114304574436233210</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>“Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” 
- Frédéric Bastiat. Some good news though, the Chancellor announced a sharp...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/03/uk-budget-2006.html</feedburner:origLink></item><item><title>Validation of the “uber-modern” economists</title><link>http://feedproxy.google.com/~r/Curious/~3/3iCAp4bilUo/validation-of-uber-modern-economists.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Wed, 22 Mar 2006 04:26:34 PST</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114302962833712111</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total><description>Martin Wolf of the Financial Times writes today about "why a long-term bet on the stock market may disappoint", an article in which I find my recent post "the uber-modern economist" validated. Mr...&lt;br/&gt;
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&lt;/div&gt;</description><feedburner:origLink>http://culturefusion.blogspot.com/2006/03/validation-of-uber-modern-economists.html</feedburner:origLink></item><item><title>The “uber-modern” economist*</title><link>http://feedproxy.google.com/~r/Curious/~3/-pqForhFiAQ/uber-modern-economist.html</link><author>noreply@blogger.com (Curious)</author><pubDate>Thu, 29 Jun 2006 00:41:31 PDT</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-14890715.post-114295929155116032</guid><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">1</thr:total><description>The case for adaptive economics in an evolving world.
Like in Information Technology where a short while is long enough for a graduate/professional to become out of touch with the "real" world,...&lt;br/&gt;
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