Bob Murphy on EMH
(November 28, 2009 12:02 PM, by David Henderson) Ever since I was an assistant professor at the University of Rochester's B-school (now called the Simon School) in the late 1970s, I have believed in the Efficient Markets Hypothesis. The basic idea is that market prices reflect all available...

When Is Uncertainty an Argument for Inaction?
(November 28, 2009 12:00 AM, by Bryan Caplan) From a naive point of view, uncertainty clearly tips the scales against costly action.  If you're only 50% sure that your transmission if broken, for example, you have less reason to replace it than if you are 100% sure that it's...

How the Economy of Anarchist Spain Really Worked
(November 27, 2009 12:00 AM, by Bryan Caplan) Last week, I received a Polish translation of a long essay I wrote over a decade ago on Spanish anarchism.  During the Spanish Civil War (1936-9), an avowedly anarcho-socialist movement called the CNT won control over large parts of Spain. ...

Snap Judgments vs. Apathy
(November 26, 2009 08:24 PM, by Bryan Caplan) I say it's silly for parents to worry much about other parents' opinions of them.  They're probably too tired and distracted to pay any attention to you, anyway.  Robin demurs:Bryan presumes we care less about the judgments others make when...

Accountability and the Web
(November 26, 2009 01:35 PM, by David Henderson) Musician Dave Carroll recently posted a video on YouTube after United Airlines refused to take responsibility for one of its employees' having wrecked his Taylor guitar. In his last conversation with the United Airlines Customer Relations Manager, Carroll said he...