PhD Economist Derp: Peer Review Is a Seal of Approval
When defending one of their many ill-conceived theories, Economists will frequently mention the theories appeared in peer reviewed academic journals. For those... Read More
Stiglitz, Friedman and the Information Matrix
The Information Matrix sheds new light on a decades long argument between Nobel prize winning Economists Joseph Stiglitz and Milton Friedman. The... Read More
Accountants and the Materiality Clause
As a follow-up to my first post on Too Big to Disclose, I want to look at the issue of why accountants... Read More
Too Big to Disclose
I would like to thank Professor George Georgiev for the expression “Too Big to Disclose”. He uses it in the title to... Read More
The Sorry State of Central Bankers’ Understanding of Transparency
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Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand, provided an excellent snapshot of the current state of central bankers’ understanding... Read More
U.S. is Being Stalked by a Zombie Elite
In a terrific column, Aditya Chakrabortty looks at how Britain has come to have an economy that benefits the few to the... Read More
PhD Economist Derp: Macro Prudential Works in Practice
Macro prudential regulation is bad in theory and even worse in practice. In theory, financial regulators are suppose to scan the financial... Read More
PhD Economist Derp: 2008 Crisis Result of Flawed Financial Plumbing
According to PhD Economists at the University of Chicago Booth School of Business, The storm that rocked the world economy in 2008... Read More
PhD Economist Derp: Exogenous Shocks
In the world of PhD Economists, it is sudden exogenous “shocks” that cause a financial crisis. What does this mean? To find... Read More
PhD Economist Derp: Financial-Storm Forecaster
Perhaps the peak of PhD Economist Derp occurred when several Nobel prize winning Economists publicly calling for the creation of the Office... Read More
William White: Still Need to Deal with Bad Debt
In his Financial Times editorial, William White urges we prepare for the next financial crisis now. For those of you who don’t... Read More
PhD Economist Derp: Economics is a Science
PhD Economists like to say Economics is closer to being a natural science then any of the other social sciences. Frequently, they... Read More
PhD Economist Derp: Assume Transparency Exists
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Yesterday, I wrote about a 1926 Atlantic Magazine article written by William Z. Ripley. This article, Stop, Look, Listen! The Shareholders’ Right to... Read More
Shareholders’ Right to Adequate Information Redux
The need for transparency so investors can know what they own is an idea that has withstood the test of time. It... Read More
Opacity Protection Team Member: UK’s Financial Conduct Authority
During the acute phase of the Great Financial Crisis, I coined the term Opacity Protection Team to describe all of the market... Read More