"... Nowadays people know the price of everything and the value of nothing"...
... but it is actually from Oscar Wilde, The Picture of Dorian Gray.
Now , I know why economists and researches spend so much time in the library to regurgitate old facts. So that the truths can be presented in a easier form for the masses to understand.
Hers are so news facts that I have learned ...
(1) fake alpha : bets that appeared to produce consistently good returns despite having a small built-in chance of catastrophic loss
(2) if war is God's way of teaching Americans geography, recession is His way of teaching everyone a little economics
(3) Anton's blindness : sufferers are blind, but possessed of a fervent belief that they can see ( unaware of their inability? )
(4) Private Profit, Socialised risk : Goldman Sach's USD13 billion investment in AIG was repaid in full at face value whereas investors in Chrysler was paid 25 cents to the dollar.
(5) $7.2 million per life ( actuarial figure ) : Iraq war costs $3 trillion
(6) Homo economicus : the economic man
(7) Games : Public Goods, Ultimatum, Inequity Aversion
(8) Easterlin paradox : the pursuit of wealth doesn't create happiness
(9) Psychological well being is a source for both generosity and happiness
(10) The corporation is a psychopath!
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