Word: beings
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There are those who still insist on rational expectations theories and EMH as the best predictors of human and market behavior. Put simply, their point is that mistakes may be made, but economics as a field can only be useful with mathematical modeling as the central pillar of analysis. Based...
Their mixture of seriousness and good humor seems to be contagious, as does their affection. Feliz-Taveras proudly beams, “The one thing we stress is having the Eleganza family.” Around the room, the models sit and talk and smile. As the rehearsal winds down...
Suddenly the choreography turns into sauve qui peut: Airlines are in absolute disarray, expense accounts bill thousand-euro Eurostar tickets, the German chancellor buses from Rome back home, and, at the ever-so-fancy Dorchester Hotel tea promenade in London, one can be offered a private jet seat back to...
Ironically, the challenge to this position is anything but new. It goes back to the German historical school of famed authors like Arnold Toynbee and Joseph A. Schumpeter. As John Maynard Keynes himself wrote in the preface to his masterpiece, “The difficulty lies, not in new ideas...
In some Latin-derived languages such as Spanish the term for “principle” is the same as that for “beginning.” Hence “principio” can convey either idea, which suggests that perhaps the conceptual gulf...