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Aug 9, 2016

Bloomberg News - August 9, 016: Just What Good Is "Heterodox" Economics?


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Bloomberg News


Economics Without Math Is Trendy, But It Doesn't Add Up
A new school of "heterodox" economists say they predicted the Great Recession -- but where's the proof? Noah Smith considers the value (and limitations) of a new way of thinking about macroeconomics.

The Lesson of Theranos: Fact-Checking Isn't Enough
Lies can mislead, but so can strategically placed silences. Faye Flam says skeptics should be on the lookout for both -- and the troubled startup Theranos offers an illustration why.
Invest Like a Billionaire (But Only If You Are One)
The wealthiest among us have plenty of investing advice, but that doesn't mean regular folks should listen to them. Barry Ritholtz examines the strange incentives that lead some billionaires to make don't-try-this-at-home investing decisions.
New Bank Rules Won't Stop Bailouts
It's a perennial question: Is the financial system ready for another crisis? Don't become complacent, Satyajit Das warns: New regulations will likely have unintended consequences, and may still leave governments on the hook.
Setting a High Bar for Legal Education
Law schools whose graduates who can't pass the bar exam might find their accreditation in danger, if a recent proposal from the ABA becomes a reality. Supporters say the plan amounts to consumer protection; detractors fear it would keep underrepresented groups out of the profession.  But Megan McArdle says the choice is clear: Law schools shouldn't be preying on unwary young people. 
Ritholtz's Reads
  • Trading tech accelerates toward speed of light (WSJ)
  • The (corporate) audacity of copying (technology) well (Stratechery)
  • Intellectuals are freaks: Why professors, pundits, and policy wonks misunderstand the world (Smart Set)
(Read Barry Ritholtz's full daily news roundup.)
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