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July 2003

July 31, 2003

Remember when Leona Helmsley allegedly said, "Only the little people pay income taxes"? According to the Washington Times, Sen. Edwards apparently believes that only the little people pay their taxes on time.

UPDATE: the News & Observer's story.

More on the Policy Analysis Market which certain U.S. senators pressured the Pentagon into abandoning:

Ronald Bailey nicely summarizes the argument in favor of such a market. Here is Fortune magazine's brief summary.

Two assistant professors of economics at Stanford's GSB also make a case for the market in the WaPo.

Brad DeLong and his readers discuss it here.

Slate reviews the various prediction markets available online.

TradeSports is a good example to look at. It has markets on the date of Saddam's capture, the date of Osama's capture, the bankruptcy of American Airlines, Kobe's going to trial and if he goes, whether he'll be found guilty, whether Tony Blair will be forced out, U.S. Democratic primaries and caucuses, and Gray Davis surviving the recall vote.

Tyler Cowen has three objections to the market that the Defense Department abandoned, the market for when terrrorists will strike. I think the first two are weak and the third is questionable.

Another journalist in need of an economics course: "Hollywood makes good movies, but nobody sees them."

July 30, 2003

Daniel Drezner on comments by

Daniel Drezner on comments by Dem-nominee-hopeful Howard Dean: "This is such a God-awful distortion of economic theory and economic history that I don't know where to begin."

California Insider discusses a NY

California Insider discusses a NY Times article dealing with the California budget. Insider destroys it.

PatioPundit slams some of our

PatioPundit slams some of our stoopid Congressmen for opposing a reasonable idea, one that's based on solid economics. (Link via Kaus.)

July 29, 2003

LA Times writer discovers that

LA Times writer discovers that charter schools won't grant people eternal life, don't cure either the common cold or prevent dandruff, and won't foster worldwide peace. Geez, he wonders, why would anyone want them?

Dan Gillmor thinks that with

Dan Gillmor thinks that with insiders selling and priced at 115 times earnings, EBay is a little overpriced.

If you want to buy

If you want to buy a really big TV, you might want to wait. Sounds like they'll be much cheaper in a couple of years.

July 28, 2003

"Tad Holbie" wrote a blog

"Tad Holbie" wrote a blog about his year of applying to top B-schools. He concludes that "If I had to estimate, based on my experience and feedback, how big a part in the decision essays make, I'd say 65%+ . . ."

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