Daily Trawl

Mostly economics today:

1. From the archives: Ancient Rome.
A nice look at how fluid Roman derivative finance was, reminding us that no scam under the sun is new.

2. Timothy Taylor on Claudio Borio.
This is both interesting and potentially very important indeed.

Krugman, DeLong, Wren-Lewis, Thoma, Yglesias, and so on have all spent time on the failure of macro to adequately predict either the occurance or the process of the Great Recession. There’s been a lot of re-examination of the Great Moderation as a whole, how it worked and what it means. If this piece by Borio bears out and becomes any kind of a consensus, we may have the first real outcome from the current ‘natural experiment’ that helps us to avoid this kind of crap in the future. Maybe.

3. And finally, something counter-intuitive about education.
I found this look at gender-segregated education rather interesting. Assuming the study turns out to generalise, it could mean quite a lot of things that would surprise liberals, but I’m inclined to think there’s more than one frame to understand these results in.

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Per Argument Ad Astra

Politics, history, economics and rampant speculation from a victim of the Great Recession, currently at large in the West Midlands.

"When the regulation, therefore, is in favour of the workmen, it is always just and equitable; but it is sometimes otherwise when in favour of the masters."
                -- Adam Smith


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