The little country that could.
When presented with a bad deal by the international community and the banks, Iceland said, “No thanks” and demonstrated the validity of the Austrian view that a short sharp shock is preferable to a long drawn out soft landing.
Meantime Iceland is #winning
A discussion and some charts around the death of the music industry. The money quote:
10 years ago the average American spent almost 3 times as much on recorded music products as they do today.
26 years ago they spent almost twice as much as they do today.
An economic take on whether artists should produce for the masses or for themselves.
Could it happen in the US as governments face revenue shortfalls?
“What he hates is the governance heâ€™s observed as a public company investor that he views as commonplace among tech companies. His specific gripe? Tech companies never pay out their earnings as dividends. His view is that there is no way to be a truly long-term investor in tech companies because management never allows companies to transition from growth companies to mature, income-oriented ones. The only way to win is to get in and trade out when you think the cycle is peaking.”
Thanks to Tyler Cowen at Marginal Revolution for pointing this article from New York Magazine. Most restaurant patrons probably don’t consider all the work that goes into designing a truly effective menu. Apologies for sounding like a rube, but this analysis is brilliant.
4. In The Vicinity
The restaurant’s high-profit dishes tend to cluster near the anchor. Here, it’s more seafood at prices that seem comparatively modest.
I didn’t realize the degree by which my decision making at dinner has been manipulated by business considerations. I do now.
“we find a robust negative correlation between
unemployment and attacks against government and allied forces and no
significant relationship between unemployment and the rate of insurgent
attacks that kill civilians”