Why European Citizens Are Angry With The Wrong People About Greece’s Bail Outs

Leiderdorp, a.d. XVI Kal. Sep. MMDCCLXVIII A.U.C. Recently Greece's third bail out was passed by European leaders, and subsequently by European parliaments (Source). Being a Hellenophile, I personally certainly am glad that this happened. However, there was a lot of criticism on this deal, ranging from empirically based views, arguing that this was just a 'postponement of... Continue Reading →

Information Aggregation: the Key to Rational Decisions

Leiderdorp, a.d. XVI Kal. Sep. MMDCCLXVIII A.U.C., One of the basic assumptions many economists make, is that people are rational (Definition Rationality). By this they mean that people act in their self-interest, in a reasonable way. This could be their very narrow self-interest, say an employer who pays the lowest possible wage to his employees, but... Continue Reading →

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