Odd Lots

For years, macro hedge fund managers have been stalking the Hong Kong Dollar. Since 1983, the currency has been pegged at around 7.75 per US dollar, and it basically has never budged from that. But th...

3 Aug 202041min

With so many people working at home, bored, and with no sports to bet on, there’s been an incredible explosion of retail stock market trading. One service, Robinhood, in particular has gotten a lot of...

30 Jul 202042min

The killers of Berta Caceres had every reason to believe they’d get away with murder. More than 100 other environmental activists in Honduras had been killed in the previous five years, yet almost no ...

28 Jul 20203min

Switching careers is always difficult. But former New Yorker staff writer Maria Konnikova did it in dramatic fashion. Konnikova decided that the best way to learn about the role of skill and luck in l...

27 Jul 202054min

With the virus crushing economic activity, local governments have had to cut spending and rely on Federal support in order to maintain basic services. But one town in Washington is also trying somethi...

20 Jul 202032min

In response to the economic crisis, governments around the world have engaged in stimulative policies that might be characterized as “Keynesian” in nature. But what did Keynes really believe, and how ...

13 Jul 202056min

Officially, the US unemployment rate stands at 11%. This is higher than the worst levels of the financial crisis. And there are reasons to think that the actual state of unemployment is even worse. Th...

9 Jul 202046min

The world has gotten angrier in recent years, and the coronavirus crisis seems likely to have accelerated the trend. So what does this say about the economy, and what does it mean for policy going for...

6 Jul 202042min