Monkey Business: Trading among the Other Primates

This new piece from CNN features the unwritten economic laws of some lower-order primates. Turns out monkeys pretty much behave in the same ways we economists would predict--and they do it based on instinct alone.



Reminds me of my Hope College math colleague Tim Pennings and his Welsh Corgie, Elvis. Tim examined whether dogs act as though they know calculus when they play fetch along the West Michigan lakeshore. You can read the paper here, or just check out this video:

A Paul Solman 'Blast from the Past': 'Animal Spirits' and Consumer Confidence

From way back in the spring of 2001, Paul Solman filed this report for PBS's NewsHour on 'animal spirits' and consumer confidence measures.

I'm no Keynesian, but it was a great segment.

GDP Melee

From CNN:

Journalists scramble for a first glimpse of China's GDP report, interested in how much growth was from stimulus money.

(If only more students were this interested in learning about GDP.)

'This American Life' Takes on Health Care Costs

In cooperation with NPR News, This American Life considers the explosion in health care costs in a first-time-ever two-part series.

The first week, "More Is Less," covers rising costs.

The second week, "Other People's Money," takes on the insurance industry--in a very entertaining hour. (In fact if you listen to just one, this is the one.)

And they do a nice job of getting at the source in nearly every case: fairly basic micro-decision-making based on the incentives and institutions at work.

So have fun listening as NPR spreads the blame around. Both may be streamed for free by following the links above.

NPR Reports on the Abuses of the Tax Credit for New Home-Buyers

Apparently about a half-billion dollars in tax credits for "new" homebuyers are fraudulent, according to the inspector general who oversees the IRS.

But it may not be that easy to catch the cheats: it requires a full audit, and the IRS has flagged over 100,000 suspicious returns so far.

A key piece of the puzzle: you don't have to prove you actually bought a house to claim the credit.

NPR's Morning Edition has a report:

Louie CK: Everything's Amazing but Nobody's Happy

Thanks to Mike and Brad:

Louis CK “Everything’s amazing, nobody’s happy” - Watch more Videos at Vodpod.

Should We Tax Soft Drinks?

On a remarkable Diane Rehm Show from this morning, three panelists discuss the consequences--intended and otherwise--of a proposed tax on soft drinks. Absolutely worth a listen.

Ms. Rehm' guests:

Kelly Brownell, director, Yale University's Rudd Center for Food Policy and Obesity.

J. Justin Wilson, senior research analyst, Center for Consumer Freedom.

David Kessler, former commissioner of the Food and Drug Administration and author of The End of Overeating.