Capitalism Won’t Thrive on Value Investing Alone (just published HBR.org oped)
First oped in more than a year (when I was maniacally trying to get my medical innovation course done… Trigger
Read MorePublic Policy
Shorter Simplified version
Keynes thought it would be ‘splendid’ if economists became more like dentists. Disciplinary economics
has instead become more like physics in focusing on concise, universal propositions verified
through decisive tests. This focus, I argue, limits the practical utility of the discipline because universal
propositions form only a part of new policy recipes. I further suggest that, as in engineering and
medicine, developing economic recipes requires eclectic combinations of suggestive tests and
judgement. Additionally, I offer a detailed example of how a simulation model can help evaluate
new policy combinations that affect the screening of loan applications.
Bob Aliber remembers George Schultz
The venerable sage, Bob Aliber (and co-author of Manias, Panics, and Crashes), sent along this fine memory of the late,
Read MoreSyllabus for Transformational Medical Innovations Course Finally Completed
The course seeks to encourage and guide innovators in health care and other industries using case-histories of transformational advances, supported
Read MoreNew paper on Anonymous Lemons
European Financial Managment has just published ‘Symmetrical Ignorance: The Cost of Anonymous Lemons.’ It’s (kind of) a 50th Anniversary ‘inversion’
Read MoreHustling to beat the Coronavirus (with Leif Pagrotsky)
Our article (full text below) highlights the crucial role of local knowledge and action in global pandemics. While regretting the
Read MoreFearless forecast the next wave (of Covid controversy)
In a couple of years or so when the dust settles on covid attributed deaths — and yes they are
Read MoreHindu/Vedantic views on life and death (rather personal!)
An oped in today’s WSJ about “Rage[ing] Against the ‘Bioethicists’ and the Dying of the Light” reminded me how different
Read MoreVentilators: where’s the bottleneck?
In the scramble to build/acquire/commandeer ventilators the question arises: is the equipment the bottleneck or are other complementary facilities and
Read MoreWhat South Korean/Taiwanese “successes” dont resolve.
Much is being made of the “success” of covid containment in South Korea and Taiwan. This seems based on rather
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