The last time LI mentioned Steve Levitt, the Chicago School economist, was his defense of lucky ducky inequality – while it might seem, by any sane account, that the level of wealth inequality in the U.S. has soared in the last thirty years, when you look at the cheap tat from China that the proles can buy and you compare it to, say, the soaring price of yachts, you can see that there´s been this neat consumer equality going on. This argument seemed to LI to be a perfect emblem of the epoch of the Great Fly: a contrarianism based on a ferocious class warfare premise, presenting itself as a cool gotcha idea. A couple of days ago, Levitt posted this: John Lippert presents an interesting and extremely well-reported article on the financial crisis’s impact on the thinking of Chicago economists. It does a nice job of capturing the multifaceted nature of the institution, with people on all sides of the issues. I absolutely love the following excerpt, which better captures what it is like to
“I’m so bored. I hate my life.” - Britney Spears
Das Langweilige ist interessant geworden, weil das Interessante angefangen hat langweilig zu werden. – Thomas Mann
"Never for money/always for love" - The Talking Heads