What’s for Breakfast?

Morning Newspaper at Breakfast
Hello hello everyone,

It’s been too long! Hope you are all having a wonderful morning 🙂
Here are a number of things I have been reading and keeping up with. Enjoy!!!


1. The Long and Short of Household Formation – A. Paciorek

A long paper from the Federal Reserve Board in Washington D.C. I don’t usually post anything that is too long to read but I think this is a very interesting paper concerning ‘headship rates’. It is defined ‘as the ratio of the number of household heads to the size of the adult population’. A higher headship rate is a good thing for the economy.

Basically, it has been depressed for reasons such as higher costs for housing and poor labour markets. However, the adult population moves to smaller houses thus improving headship rates and household formation. Interesting to read and bring it up over conversation.

2. Closed data – Not particularly sure

Well, I usually like to go see some data especially for research on projects in classes. I cannot do that now considering the government is shutdown (to some degree). It is frustrating to say the least however, the FED data is still open and is very helpful to gauge something about the economy.

But, as negotiations seem to be picking up let’s hope policy makers come to some solution… Sooner rather than later.

In the News:

1. Janet Yellen! – New Yorker

I was wondering whether I should put this in the ‘Need some Inspiration’ pile in my blog… It was a hard choice but I decided to put it in the news section. It is a historic deal nonetheless. The first woman central banker in the western world. Clearly, ‘quiet patience’ has steely determination has won out.

Yellen is noted to be more dovish than the other nominees or other economists in general but I have faith that she will do a very good job when it comes to tapering, and other economic aspects. Considering she is a great labour market theorist and a team worker this seems to be the right choice.

I wish her the best!

2. Howard Schultz joins in the fight – WSJ

Starbucks CEO, Howard Schultz, starts a petition to help stop the government shutdown as he believes that ‘this is about doing the right thing’.

However, one has to wonder if coffee sales are low in order to spur Schultz to start the petition.


1. The Greatest Chess Match of all time – DelanceyPlace

Only a few people have the genius and the perseverance to build on it. Bobby Fischer is noted as the greatest chess player of all time . His obsession in chess made him a phenomenon. A more important aspect is that he taught himself everything and eventually beat Russia’s Boris Spassky.

Fischer had his problems and eventually fell into major controversy. There was much more for him to accomplish sadly, he went down a wrong path… Maybe he was on it from the start.

2. Altruism disguised as Self-Interest? – BBC

I enjoyed this article a lot! I love these controversial questions and how people deal with them. Does it matter why people are altruistic? The article quotes a really interesting answer by JBS Haldane (Biologist studying altruism):

“I would lay down my life for two brothers, or eight cousins.”

So, is altruism built on psychological egoism? A need to feel good about oneself? Well, one of the progenitors of the mathematical form of altruism, George Price, was not too pleased about this. Read more to understand this amazing story.


1. Inequality for all – R. Reich

Many of you will know my love of documentaries. This one by Economist Robert Reich is intriguing. He will be addressing the crippling effects of inequality on the whole economy. Let’s be honest, inequality has reached major heights and the basic questions to ask are… Why is this happening? Is this a problem? If so, should we redistribute the wealth?

These are some of the very important questions that must be answered.

Well, this was to be short and concise. I hope you guys enjoyed it 🙂


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