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...sort of coach on the floor. Kim Jong Un, the youngest son of the man known as the Dear Leader, North Korea's Kim Jong Il, would play hoops with his friends and his brother and afterward, according to a memoir written by his family's former chef, would gather his teammates and offer constructive criticism: "You should have passed here instead of shooting. We should have double-teamed this guy." (No one, mind you, ever told the Dear Leader's son what he might have done wrong...
...didn't take long for a new generation of scholars, many with roots at Samuelson's MIT, to start pointing out the problems. Samuelson protégé Joseph Stiglitz showed that a perfectly efficient market was impossible, because in such a market, nobody would have any incentive to gather the information needed to make markets efficient. Another Samuelson student, Robert Shiller, documented that stock prices jumped around a lot more than corporate fundamentals did. Samuelson's nephew Lawrence Summers demonstrated that it was impossible (without a thousand years of data) to tell a rationally random market from an irrational...
...streets were getting very crowded now - and there was a giddiness to the scene. It was the sort of crowd that might gather after a football victory. The Ahmadinejad supporters, dressed in the red, white and green of the Iranian flag, seemed to be enjoying the freedom as much as the more flamboyant Mousavi supporters, who were draped in green. At one point, an Ahmadinejad supporter stuck his head out the window of his car and sang a lullaby, "Mousavi - lai, lai," in response to the students chanting "Ahmadi - bye, bye." The students laughed. It was as if someone...
...Mousavi's supporters gather at Valisar Square, the BBC is reporting that foreign media have been banned from covering it in addition to other "unauthorised events." A tweet warns against attending the rally due to claims that armed police will be there in force...
...electoral avalanche. Pauline Hanson and her gaggle of xenophobes are now nothing more than a much derided footnote in Australian political history. The vast majority of Australians, irrespective of their ethnicity, regard the actions of the idiots at Cronulla or Newport, or wherever they choose to gather, with anger and disgust. The freedoms we value in Australia are, thankfully, comprehensive enough to protect the rights of fools to express their misguided opinions. The majority of Australians have an innate tendency not to remain silent when the acts of the few impact on the rights of the many. I prefer...