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Japanese Saving: An Economics Puzzle

November 07, 2008 00:25

Here's an observation on Japan that perhaps represents my best attempt ever to win a Nobel Prize in economics. It's about risk, and savings, and "economic man."Start with a question: why do people buy casualty insurance? It can't save you any money. Suppose a loss will cost $1 and that the...

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Paris: Église Saint-Sulpice

March 22, 2012 08:48

I've been in Paris a few times before but somehow I'd never made it to Église Saint-Sulpic, the rococo of all rococos, a massive pile tucked away modestly with its back to the action on the Rive Gauche.  We trekked out there Sunday morning to take in the organ music.  These guys have no...

Paris: On French Parents and their Children

March 22, 2012 08:47

We spent a fair amount of the day in the company of French parents and their children--all of them strangers to us but all the more instructive thereby as an opportunity for observation.  There were two venues--one a fairly upscale restaurant peopled by Parisian families in Sunday dinner...

Paris: My Favorite Spot in the Louvre

March 22, 2012 08:45

You know what it is? Glad you asked. No, not the Winged Victory or the Venus de Milo. Not the Code of Hammurabi, and not even the Vermeers although they, like all Vermeers are eye-popping. No; I cast my vote for the Marie de' Medici cycle, Peter Paul Rubens' 24 billboard-size paintings that...

Paris: Along the River

March 20, 2012 18:00

Earlier in the week I carped about the fog but last night and today, the weather couldn't be better.  Tourists (of whom at the moment there are surprisingly few) had better hurry before it gets too hot.  We dined today at a modest place--rather, as modest as you can get on the right bank...

The French Election, and Ours: Pick Your Brackets

March 19, 2012 08:41

The French don't do things our way (perhaps you knew?).  When it comes to elections they don't have a nice, dignified, orderly (heh!) primary followed by a nice, dignified general.  They have a first-round free-for-all followed by a runoff,   It can be confusing: they're still...

What Is it with Greg Smith?

March 17, 2012 15:47

This will be easy to misunderstand so bear with me while I try to explain--but I really don't get the whole Greg Smith thing.  I mean--well, for sure he is s remarkable human story, this young man from a first-class education and top-of-the-line occupational experience who will put his career...

Off Again

March 17, 2012 11:17

Pardon if this is a repeat but I do love the story about Clarence from the Cincinnati Rotary Club who won the raffle and got to go to Paris.   --Well, how was it? --Oh, it was wonderful, the bright lights, the music... --And did you go to Montmartre? --Heh, yes I did. --And see the...

Vox Populi

March 15, 2012 23:55

Link.

Skeel on "Corporatism"

March 15, 2012 18:59

I'm embroiled in other stuff today but I'm also just finishing up  The New Financial Deal, David Skeel's impressive exposition/critique of Dodd-Frank.    It's the handiest overall summary of Dodd-Frank I've seen and although Skeel makes it clear he is no fan of this particular...