In the third extract from this years American Economic Association (AEA) Humor Session, lets hear it for Justin Rao of Microsoft Research, who talks about The Economics of Spam. Note that the several mentions of Varian refer to Hal Varian, emeritus professor at the University of California, Berkeley, now chief economist at Google which is, of course, one of Microsofts arch rivals.
From the Humor Session, we also bring you American University economist Kevin Capehart, on Whats So Funny About Making Monetary Policy? Thats the title of an actual academic paper, to be published in the journal, Economic Inquiry, in which Capehart sifts through minutes of Federal Reserve Open Market Committee (FOMC) meetings to answer the question: Whos funnier, inflation hawks — FOMC members who worry mainly about inflation — or doves, those who are willing to risk inflation to reduce unemployment?
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This entry is cross-posted on the Making Sen$e page, where correspondent Paul Solman answers your economic and business questions.