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Thoreau Notes the Two Great Faults College Lecturers Can Committ

Here : "More significantly, I appreciated the person on page 147 who complained that the lectures were basically the same as what was in the textbook.  The only complaint more common than that, in my experience, is 'The lectures are different from the textbook.'"

Why Does This Nonsense Persist?

Consider this : "In the Middle Ages, wine was commonly drunk (at least in wine-growing areas), but it was a weak concoction and popular mainly because - unlike water - it was safe. Did any of you ever forget a glass of wine on the counter for a couple of days? (Hey, if you haven't, then your benders just haven't gone on long enough, OK?) It gets pretty moldy, doesn't it? A weak dilution of wine in water is totally insufficient to make infected water safe for drinking. Yet people write such nonsense over and over again.

Sigh

"They do not remember what Plato said in Book Three of The Republic , that a society filled with students of law and medicine is already a sick society. Many students continue to think that more law and more medicine will cure what can only be cured by a reform of their own souls."-- Here .

Why doesn't the iPhone link appointments and contacts?

This would seem to be the most natural thing in the world: when I enter an appointment with "Bob (socialist-Sraffa-loving) Murphy," why isn't there doesn't iOS (or the calendar app) offer me the opportunity to link to the aforementioned person in my contacts? Is there some way to trigger this that I have simply been missing, or is Apple missing a very obvious app synergy here?

Risk Averse Bidders in Auctions

I am very puzzled: in a lecture course on game theory, I heard the lecturer state that "risk averse" bidders will not behave as standard theory says they should: they will bid too high since they are averse to the risk of not winning the auction. But wait: why is that called risk averse, rather than being averse to the risk of paying too much for an item? This seems arbitrary. Any explanations?

Mountains Are *Not* Caused by Valleys!

Scott Sumner writes : "Bubbles are caused by asset prices crashes, just as mountains are caused by valleys." Sumner's contention is thatwe only see "bubbles" when NGDP crashes, and leads to a steep price decline in the asset class that we then declare to have been in a bubble. Well, first of all, mountains aren't caused by valleys! The land surface of the Earth would not be a 29,000 plateau if not for those pesky valleys: tectonic plates collide, and lift up mountains. So the metaphor is bad, but what about the economic analysis? Sumner says: "The 1920s and the Great Moderation both saw relatively stable NGDP growth. So why the big bubbles? Because NGDP growth crashed in 1929-30 and 2008-09. In 2008-09 NGDP growth slowed by 9% relative to trend, nothing like that happened in the 1970s. It was the crash that (partly) created the bubble. Without the crashes, we wouldn’t even be talking about the great stock bubble of 1929, or the great housing bu...

Who pooped it?

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When I got to my house in Pennsylvania I discovered literally hundreds of these little turds covering my driveway and front lawn. Does anyone have any idea what varmint did this? UPDATE: My son, who walked the yard with me, heard me posting this, and said, "Not hundreds, Dad: more like a hundred."