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Neoclassical economics - another University of Chicago specialty - has ruled our world for decades. It's the doctrine that markets know best: when government keeps its hands off free enterprise, capital migrates to its most productive uses and society prospers. But its elegant models rely on a bold assumption: rational decisions by self-interested individuals create efficient markets. Behavioral economics challenged this assumption, and the financial meltdown has just about shattered it; even former Fed chairman Alan Greenspan confessed his Chicago School worldview has been shaken. "We couldn't have planned a better marketing campaign for behavioral economics," MIT's Ariely...
...opponents and teammates alike have started to take notice.“Matt could be the best player in the world if he wanted it to be,” Weissbourd says. Then, he chuckles, before adding, “That’s a bold statement.”Bold indeed, but not inappropriate for a player like Jones. —Staff writer Kevin T. Chen can be reached at ktchen@fas.harvard.edu...
...your-face heavy metal that makes it one of the most inventive folk-rock albums in recent memory. Some songs do not succeed beyond their role as fragments of the melodramatic plot. But when the album is viewed as one cohesive folk-rock project, it acts as a bold statement of the band’s ambition.While the Portland-based band’s previous album, “The Crane Wife,” showcased frontman Colin Meloy’s affinity for lyrical storytelling, “The Hazards of Love,” the band?...
...Back at the ExCel center, official posters tacked near its entrances tempt passers by with the bold words "STABILITY, GROWTH, JOBS". But for anyone looking for a way out of the blight, it's another disappointment. The local footbridge to the center will be shut during the meeting of the world's most powerful. Once again, Canning Town will find itself cut off from what lies beyond...
...sources revealed exclusive details about the bold air attack on what they said was an Iranian weapons convoy, which was transporting rockets and explosives destined for Gaza, where an Israeli assault was ongoing. They denied earlier news reports that U.S. aircraft had been involved in the attack on the arms convoy as it crossed at night through the Sudanese desert heading for Egypt's poorly guarded border. "The Americans were notified that Israel was going to conduct an air operation in Sudan, but they were not involved," a source said. He denied prior claims by a U.S. television network that...