capitalism at its best. the healthcare giants taking care of your health:

– GlaxoSmithKline Plc knew its diabetes drug Avandia might cause heart damage several years before a study documented the risk and the company pressed doctors to retract or revise warnings about side effects, said a report from researchers…— bloomberg online

The lost decades. This past year Obama’s greatest mistake, the one that caused an almost certain electoral failure, was in appointing too many economists. He surrounded himself with the meager, but eager. The solution to our economic problem is not more economists.

What Do Economics Teachers Do?

Does an economics teacher use what they teach? First this example:

Hi everyone,
I’m just back from Costco where they are selling $100 in Hyatt gift cards
for $79.99. I called the Hyatt — twice, to be sure I got the same info
from 2 different people — and they said the gift cards can be used to pay
hotel charges at the Hyatt Regency in Atlanta for the conference.–Econ Professor Big Name School

Now the puzzler. If you saw an easy means to profit, what would you price these discount cards at? Why didn’t this teacher buy and sell the cards to the list he posted this? Two samples create how much confidence in your decisions?

Now you know why economists can’t get us out of what they taught us into.