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To: Solar Wind

The CFA Society publishes scholarly articles that relate to economics and investments. They compile some really great papers.


74 posted on 03/26/2011 2:07:50 PM PDT by Shout Bits
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To: Shout Bits
George Mason economics professor Daniel Klein published The People’s Romance, a paper on why people are so reluctant to give up even obviously worthless government programs. He presents several theories, including Adam Smith’s idea that people naturally seek to coordinate their sentiments, not just Pareto self-interest. Unlike talk radio and blogs, NPR is a one way flow of left wing sentiment; it coordinates the sentiments of its listeners. NPR is the left’s shaman telling his tribe the stories that define a cultural identity. Klein would argue that this collectivist instinct is part of what keeps government programs alive well past their logical termination.

I'm going to have to check out The People’s Romance. First I've heard of it.

75 posted on 03/26/2011 2:11:37 PM PDT by an amused spectator (Islamic law upholds that children born to a Muslim father are automatically Muslim)
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