A little housekeeping

Well, things unfolded a lot quicker than I supposed, so I’m going to have to do some housekeeping around here as it looks like Sky Dancing will be a bit more than a file cabinet.

I just wanted to let every one know that effective this afternoon,  I have resigned my affiliation with The Confluence.

Well, that and I’m not sure what to do at this point and that I’ll continue to blog here for the time being. I was accepted last month at the Financial Times, I still have an association with some folks at FDL, and who knows?  My life is in a state of flux, anyway.  So, we go from file cabinet to active blog over here at Sky Dancing.

I’m an issues person, so this will be an issues blog and open to all view points  as long as they follow some guidelines. (Merci to Lambert of Corrente for some suggestions here.)  I don’t care if you disagree with me or others.  Just be civil.  That means no name calling, no bullying, and no endless repetition of the same points that no one agrees with. Of course, I don’t want comments that repeat “memes”.  That means if it’s something every one else is arguing because it some kind of winger spin, I’m not going to allow that to dominate a thread.    Also, I don’t expect comments to be ‘dogwhistles’ for racists, xenophobes, homophobes or sexist jerks.  If you think your snark may be mistaken for something serious, then just label it snark font so those of us that can be snark-impaired get it.

Until, I get some sense of things, carry on!!!  Make it work!!!  (h/t to the fabulous Tim Gunn).


An Accomplished Woman Political Economist Shares the Nobel for Economics

Americans Elinor Ostrom and Oliver Williamson won the Nobel Prize for economics.

Elinor Ostrom became the first woman to achieve a Nobel Prize in Economics. She shares this year’s prize with Oliver Williamson. That’s forty years of prizes gone by. Both winners research areas that are somewhat out of the mainstream. Ostrom studies the problem of the commons. Williamson researches governance issues. Both are relevant areas given the state of the world’s resources and that of financial and economic markets.

This is from CNN.

The award was a “great surprise… I’m still a little bit in shock,” she said by phone at the news conference announcing the prize.

Ostrom, a professor of political science at Indiana University, was praised “for her analysis of economic governance, especially the commons.”

Ostrom’s work shows that local communities often manage common resources — such as woods, lakes and fish stocks — better on their own than when outside authorities impose rules, the committee said.

“Bureaucrats sometimes do not have the correct information, while citizens and users of resources do,” she said to explain the significance of her work.

The committee highlighted her research on a dam in Nepal as an example, saying her research has moved analysis of nonmarket institutions “from the fringe of economic analysis to the very center.”

Marginal Revolution has an interesting thread up on Williamson’s work. Here’s a link to Williamson’s most recent work that supports earlier work done by Ronald Coase. More information on both winners can be found here at the NY Times.

I’m just relieved Fama didn’t win yet again and this is a bit of a slap at his EMH too!

The Mercatus Center at George Mason University has an interview with laureate Ostrom on their site called: Rethinking Institutional Analysis: Interviews with Vincent and Elinor Ostrom which is really interesting.

Ostrom interview

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Greenshoots or False Spring?

Miss Strawberry with the Winners of the Strawberry Bakeoff

Miss Strawberry with the Winners of the Strawberry Bakeoff

I woke up this morning to a chill in the air.  When I came back home from university today it was a chilly 60 in the house. There’s a frost warning for the North Shore and I had to put the heater back on and pull at the flannels.  I walked the dog in a fleece jacket and had to put socks on.  This weekend was just warm, sunny, and great and the Strawberry Festival was in  full swing?  WTF happened here in Southeastern Louisiana?   One day I’m basking in the first hint of a warm sun enjoying fresh strawberry shortcake and the next I’m hoping that the magnolia blossoms are safe.  Yes, there’s  a Strawberry Queen, a Strawberry Ball, and Strawberry Royalty.  If you gotta work somewhere, it might as well be the Strawberry Capitol of the Word.

So, having been raised in the Great Flyover and spent most of my childhood watching my Dad’s business sell F-150s to the local farmers, I know a lot about a false spring.  That’s when Mother Nature messes with you by giving you just enough spring to think the worst of winter is over and then hits you with the cold blast of reality.  Thankfully, my cold blast didn’t include the blizzard that hit the heartland, but it is a cold blast.  That’s why I’m having so much fun with the economic word-de-jour.  That would be Ben Bernanke’s “green shoots”.   An Ivy-leaguer from South Carolina should know about about false springs.  Bloomberg picks at the analogy too in Bernanke ‘Green Shoots’ May Signal False Spring Amid Job Losses.

April 6 (Bloomberg) — It will be months before it’s clear whether what Federal Reserve Chairman Ben S. Bernanke calls the U.S. economy’s “green shoots” represent the early onset of recovery, or a false spring.

The Labor Department’s April 3 report that the economy shed an additional 663,000 jobs last month, while the unemployment rate rose to 8.5 percent, will be followed by months more of bad-news headlines, economists say. The recession, now in its 17th month, has already cost 5.1 million Americans their jobs, the worst drop in the postwar era; unemployment may hit 9.4 percent this year, according to the median estimate in a Bloomberg News survey, and may top out above 10 percent in 2010.

The risk is that the jobs picture turns even more bleak than forecast or the drumbeat of bad news still to come causes consumers, whose spending has firmed up in recent months, to hunker down again.

“If something happens to spook consumers and they crawl back into their tortoise shells, that would be terrible news,” says Alan Blinder, former Fed vice chairman and now an economics professor at Princeton University.

Consumer spending, which accounts for more than 70 percent of the economy, rose 0.2 percent in February after climbing 1 percent in January, breaking a six-month string of declines.

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Happy St. Paddy’s Day

guinnessThe first time I saw Ireland was when I was a kid.  Mostly I remember that it was the greenest shade of green that I’d ever seen.   Ireland is one of the most beautiful countries that I have ever visited.  It’s easy to see why there are plenty of stories about enchanted things because there are parts of that country that hardly seem possible without some kind of magic.  This picture of the Giant’s Causeway should be proof enough.giants-causeway

My grandmother’s and my mother’s name was Atha and they were from the Dennis side of my family.   When I had colic, my grandmother would sing me Toorah Loorah loorah and rock me in the rocker that sits in my living room.   I got the green in my eyes, the red in my hair, and the ‘Irish’ in my  temper from her.  I also heard my share of old Irish wives’ tales like “things come in threes.”   Both my grandmother and my mother were terribly superstitious and it was hard to do anything as a kid without hearing something terrible that happened to a neighbor or a cousin or an aunt that had been foolish enough to do the same thing.

Grandmother used to love to cook and Colcannon was one of my favorites.

Colcannon Ingredients:

  • 3 cups finely shredded green cabbage
  • 1 onion, finely chopped
  • 1/4 cup water
  • 6 cooked potatoes, mashed
  • 1/4 cup milk
  • 1/4 cup butter or margarine
  • Salt and freshly ground pepper to taste

Preparation:

Place cabbage, onion, and water in a saucepan or Dutch oven and quickly bring to a boil. Reduce heat, cover, and simmer about 8 minutes until tender. Do not overcook.

Add mashed potatoes, milk, butter or margarine, salt, and pepper. Mix well, stirring often until heated through.

Colcannon is served warm as a side dish.  I like it served with breaded pork chops baked with apples. That’s another Irish dish.  If you really want a nice treat try it with some warm soda bread and a little clotted cream

There’s a lot of great things that have their roots in Ireland including a large number of Americans like me.  I love to read some of the great Irish poets and writers and my favorite local bar is Vaughn’s. I like it because  it has that ramshackle looked of an Irish pub known for great brews and conversations.  (Jack Kerouac used to jump off at the tracks by my house and share a few drinks with William S. Burroughs there so while it’s now known for New Orleans Jazz, it did have a bit of a literature tradition too.)   Here’s  a treat from James Joyce’s Dubliners:

They walked along Nassau Street and then turned into Kildare Street.  Not far from the porch of the club a harpist stood in the roadway, playing to a little ring of listeners.  He plucked at the wires heedlessly, glancing quickly from time to time at the face of each new-comer and from time to time, wearily also, at the sky.  His harp,m too, heedless that her coverings had fallen about her knees, seemed weary alike of the eyes of strangers and of her master’s hands.  One played in the base the melody of Silent, O Moyle, while the other hand careered in the treble after each group of notes.  The notes of the air sounded deep and full.

The two young men walked up the street without speaking, the mournful music following them.  When they reached Stephen’s  Green they crossed the road.  Here the noise of trams, the lights and the crowd released them from their silence.

So, I raise a pint to you my friends and tell you to think kindly of the Irish today and be thankful for all the blessings that life has brought to you.