Econ Readings of the Day

1. George Akerlof and his seminal paper The Market for Lemons: Quality Uncertainty and the Market Mechanism, first published in the Quarterly Journal of Economics back in Aug. 1970. to my knowledge this is the article that first put him on the map and attracted the attention of the Nobel Committee.

2. Bryan Caplan thinks Ben Bernanke should be fired. I would like more warrants presented than just he that he failed; I am inclined to a much more charitable perspective that says Bernanke did the best he could given the structure of the political economy and that Caplan seems to discount the information assymetry between him and Bernanke, given that Bernanke probably gets to see extremely sensitive information on a time sensitive basis that Caplan doesn’t.

3.

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One thought on “Econ Readings of the Day

  1. flash-player says:

    Hmm. Is it true? 🙂

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