Ayn Rand fans, here’s something to whet your appetites: New American Library has released the cover image for “Ideal,” the first Ayn Rand novel to be published in more than 50 years.
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A part that I found very interesting is Vernon Smith's distinction between two kinds of markets: (1) where the good or service is not retraded, e.g. commodities and (2) where retrading exists, e.g. stocks and bonds. He says the marginal utility and value model works very well for #1, but not for #2, where bubbles are c...(Read more...)
The jury took only 75 minutes to reach its verdict after a three-week trial that ended abruptly on Monday when Weil's defense team decided not to call any witnesses, saying the government had failed to make its case.
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