Businessmen with stopwatch hearts — they don’t beat:

Sara Mead and Rick Hess on the “merit pay” study.

Irrational fear of inflation.

“Central Banking in a Democratic Society”.


— Rich members of congress don’tlike estate taxes “even after we accounted for their party affiliations, their National Taxpayer Union ‘scorecards’ (reflecting opposition to taxes on other bills), and the characteristics of their districts (median income, urbanicity, and polled opposition to the estate tax).”

— Paul Krugman (sensibly!) takes himself out of the running to be NEC director. I think Larry Summers’ leftwing detractors would be surprised to learn how little daylight there is between he and Krugman on the issues.

— Hedge funds and talent allocation.

— Sebastian Mallaby continues to show he’s the smartest man in journalism through his consistent focus on defending the interests of the richest people on earth.

Delerium (featuring Emily Haines), “Stopwatch Hearts”.