As you may well know, I’m currently working towards an MA in Economics. I am weighing my options, though, and considering switching to a Master’s of Science in Finance, instead. Basically, the MSF program, if you specialize in “Economics” consists of all of the MAE courses I’m required to take, except I would no longer need to take “Early & Classical Economic Thought.” Considering that I own “Wealth of Nations,” and I’ve read Cournot’s Monopoly, and I intend to read Marx in the future (summer reading) – this is not a tremendous loss for me. And I’d also get to take some classes like “Financial Stmt Analysis,” “Public Finance (also an Econ elective) and “Investments.” Nifty. And because I had “International Finance” as an … Read entire article »

I feel like putting this in print in the event that I one day need to refer to it in discussion – so here’s my bitch-slap to the “social utility” theory of justice. Fresh out of an Ethics exam, what better time than now… Advanced by Jeremy Bentham and his Radicals, it is a theory of justice that suggests an action is good if it brings about the “greatest amount of good for the greatest number.” And one or two hundred years later, much is still talked about in terms of social utility. I find the Utilitarian theory of justice to be deeply problematic on several grounds. First, and most obviously, although attempts were made, there is no device that can objectively and accurately determine utility. Without a … Read entire article »

It was just yesterday that I was praising the announcement that General Motors is strongly considering a beefed up new Camaro. How quickly the tables turn: Delphi workers authorize strike: “Since Delphi is GM’s largest supplier, and GM in return supports more than 3,000 other suppliers, a strike at Delphi would indirectly affect the entire automotive industry.” The UAW will pay striking workers (if it comes to that) $200 a week, and continue to pay their health insurance during the strike. This is a paltry sum compared the the average of $78/hour (including wages & benefits) that is typical of UAW Delphi employees. It is also a paltry sum compared to the $26/hour (including wages and benefits) that are paid by non-identified benchmark companies in a study Delphi … Read entire article »