Elephantstrunk

Tom Slee’s “No one makes you shop at Wal-Mart” should be bundled with every copy of “The Wisdom of Crowds”. I like “The Wisdom of Crowds” but it always seemed dangerously incomplete. NOMYSAW is not exactly a counter argument but shows that life is a lot more complicated than the TWoC might suggest.
Mr. Slee is […]

In the introductory chapter of “Good & Plenty”, Typer Cowen quotes another author as reckoning that the $5m invested in the arts through the WPA had produced work worth $450m in 1999. He then goes on to claim (p12) that since the stock market would have returned $730m that was not such a great investment. […]