The Dirty Little Secret of Finance: Asymmetric Information
It's an old concept that deserves new attention: Financial markets are driven by differences in how much people know. Noah Smith argues that information asymmetry, which is nothing more than a nuisance in most markets, is central to how finance works.
Google Gets Cozy With Government
The tech giant's reach in Washington goes beyond every browser: More than 250 Google employees have joined the federal government (or vice versa) since 2009, including 31 ex-Googlers in the White House. With that in mind, Justin Fox examines how well the company's interests been served during the Obama years.
Shaming Could Be the Best Fix For Olympic Doping
Let's face it: Enforcing social norms isn't pretty, but it usually works. As Olympic officials consider how to keep athletes from using performance-enhancing drugs, Cass Sunstein points to the bright side of public shaming.
Early Returns From Seattle's Minimum-Wage Experiment
It's been 16 months since Seattle boosted workers' baseline pay from $9.50 to $11 an hour (part of a large plan that will lead to a citywide $15-an-hour wage). So how has the city fared so far? Megan McArdle says the lowest earners took home a tiny bit more, if they kept their jobs. But not all of them did.
Don't Expect Instant Gratification From New Tech
Technology reaches the market at the height of the hype cycle, not when it can deliver on its promises. So Leonid Bershidsky urges early adopters to think of themselves as product testers and keep their expectations low.
- The great productivity puzzle (The New Yorker)
- Distractions cost investors 115% (The Irrelevant Investor)
- Adopt a gold-backed dollar? This is what happened the last time we tried (MarketWatch)
(Read Barry Ritholtz's full daily news roundup.)
- Valeant's turnaround narrative has another twist
- Asia's great dividend rush is on
- Macy's store closings should just be the beginning
(Read more from BV's sister site for fast business commentary.)
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