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January 30, 2009



So even a natural disaster that is adequately prepared for is evidence of incompetence? That sounds like the farmers who vote against incumbents when there's bad weather.

It was disappointing that Stiglitz mentioned how prediction markets could be imperfect and assumed that would give a false sense of security rather than doing a serious analysis of whether our beliefs would be more or less accurate in their absence.

Did Stiglitz actually favor "airline bailouts, steel tariffs and agriculture subsidies"? I would be especially surprised by the second.

Hopefully Anonymous

To your first sentence, what's your standard of adequately prepared for? I'm going with an outcome based measure of incompetence here, such as we're incompetent at ressurecting people from cryonic preservation.

To your second sentence I agree.

To your third sentence, I have no idea. To your third sentence, doesn't sound like him, and I'd be surprised, too.

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