By Ocean on Aug 16, 2010 in Articles, Featured, Free Trade, Immigration, Our Theory | 2 Comments
Yet another article extolling the virtues of immigration into the United States.
We at DumbAgent believe that borders should be completely open to immigration of all sorts. Simple Supply and Demand mean that workers will travel (often very far and through perilous terrain) to find jobs to which they are suitably matched. The [...]
By Ocean on Jul 20, 2010 in Articles, Behavioral Economics, Current Events, Featured, History, Our Theory | 0 Comments
The Atlantic recently asked that we refer to terrorists as nitwits. They illustrate what a hapless group of incompetent, ignorant, three-stooges like people these terrorists are, as well as how there is nothing religious about most of them and how they have even been caught getting intimate with cows and donkeys.
We are happy [...]
By Ocean on Jul 15, 2010 in Articles, Current Events, Free Trade | 0 Comments
As we have mentioned in our book and in a recent article, we need international trade and we need to have an open society in order to progress.
The Economist’s Lexington, in his final article for the publication, puts forth an excellent case for the same point. Some good quotes:
The government subsidises foreigners to acquire PhDs [...]
By Ocean on Jul 13, 2010 in Articles, Behavioral Economics, Featured | 0 Comments
In case our first and second parts of this series did not convince you, here is an article from Forbes Magazine, highlighting the mistakes most investors (yes, that means you and I) make when investing. The points it makes echo many concepts that come from Behavioral Economics:
Overconfidence. The overconfidence bias states that most people [...]
By Ocean on Jun 29, 2010 in Articles, Featured | 0 Comments
The Friendship Paradox states that your friends have more friends than you do.
Despite sounding like (and being called) a paradox, this actually makes sense mathematically, as well as in real life.
Imagine two people you know: one, called Becky, is a complete extrovert who talks to everyone and loves to go to bars and [...]