Tuesday, March 04, 2003

Blair seeks private money to create foundation hospitals and Red Labor says, "no" and we should be surprised?  Duh!  Blair is as much a Conservative as anyone and when his colors are exposed, his party drop him like a ton of red bricks!  Rebellion over 'super hospitals'. Tony Blair is facing a major Commons revolt over his flagship policy of setting up dozens of "foundation hospitals". [BBC News | Front Page | UK Edition] 1:27:59 AM    comment []

A sad day - worth noting.  The passing of a true herald - Red Herring to cease publication [CNET News.com] 1:20:49 AM    comment []

So "behavioral economics" makes a play for first team economics? Not so sure this is as "alternative" as it might first suggest. Sure, "behavioral economics" is not THE model for macroeconomic theory, but to assume that we are irrational is dumb. We act rationally on the limited information we get. What is so irrational about that? Nothing. However, there is in the general population a confusion over "rational man" and predicting how we all behave given limited or spurious information. Much of Feldstein's model would allow for behavior that is influenced by incomplete information. I think this note might be more hot air than inflammatory!  Harvard Professor Proposes Alternative Economics Class. A Harvard professor has proposed an alternative to the introductory economics class taught by an occasional adviser to President Bush. [New York Times: Business] 12:59:05 AM    comment []

Factor signals continued economic malaise: Auto Sales Fell Last Month to Lowest Rate in 4 1/2 Years. Sales of big sport utility vehicles, the lucrative, gas-guzzling giants of the auto industry, are sliding. [New York Times: Business] 12:15:42 AM    comment []