The Price of Everything (46 page)

 

233-236 Should We Pop Them?:
Discussion of the potential social, economic, and political fallout from the financial crisis of 2008 draws from Fernando Ferreira, Joseph Gyourko, and Joseph Tracy, “Housing Busts and Household Mobility,” NBER Working Paper, September 2008; Philip Oreopoulos, Till von Wachter, and Andrew Heisz, “The Short- and Long-Term Career Effects of Graduating in a Recession: Hysteresis and Heterogeneity in the Market for College Graduates,” NBER Working Paper, April 2006; and Markus Brückner and Hans Grüner, “Economic Growth and the Rise of Political Extremism: Theory and Evidence,” CEPR Discussion Paper, March 2010. The debate over whether bubbles should be popped draws from Brad Delong, “Sympathy for Greenspan,” Project Syndicate, June 29, 2009 (at
www.project-syndicate.org/commentary/delong91
); Kevin J. Lansing, “Speculative Growth, Overreaction, and the Welfare Cost of Technology-Driven Bubbles,” Federal Reserve Bank of San Francisco Working Paper, August 2009 (
www.frbsf.org/publications/economics/papers/2008/wp08-08bk.pdf
, accessed 08/08/2010); and James Edward Meeker,
The Work of the Stock Exchange
(New York: The Ronald Press Company, 1922), p. 419. The tally of countries that have escaped banking crises is by Carmen Reinhart and Kenneth Rogoff, “Banking Crises: An Equal Opportunity Menace,” NBER Working Paper, December 2008.

 

236-239 What Rationality?:
Eugene Fama’s quote is in Douglas Clement, “Interview with Eugene Fama,”
The Region
, Federal Reserve Bank of Minnesota, December 2007. Keynes’s quote is in John Maynard Keynes,
The General Theory of Employment, Interest and Money
(New York: Harcourt Brace and World, 1965), p. 161. Robert Shiller’s theory is described in George Akerlof and Robert Shiller,
Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism
(Princeton: Princeton University Press, 2010).

 

240-246 Economics for a New World:
Limits to the assumption of human rationality and self-regard are discussed in Herbert Gintis, “Five Principles for the Unification of the Behavioral Sciences,” Working Paper, May 13, 2008. The impact of payments on altruistic motivations is discussed in Carl Mellström and Magnus Johannesson, “Crowding Out in Blood Donation: Was Titmuss Right?,”
Journal of the European Economic Association
, MIT Press, Vol. 6, No. 4, 2008, pp. 845-863; William Upton, “Altruism, Attribution and Intrinsic Motivation in the Recruitment of Blood Donors,” doctoral dissertation, Cornell University, August 1973; and Dan Ariely, Anat Bracha, and Stephan Meier, “Doing Good or Doing Well? Image Motivation and Monetary Incentives in Behaving Prosocially,” Federal Reserve Bank of Boston Working Paper, August 2007 (
www.bos.frb.org/economic/wp/wp2007/wp0709.pdf
, accessed 08/08/2010). Data on the increasing economic clout of developing countries can be found in OECD Development Center, “Economy: Developing Countries Set to Account for Nearly 60% of World GDP by 2030, According to New Estimates,” June 16, 2010 (at
www.oecd.org/document/12/0,3343,en_2649_33959_45467980_1_1_1_1,00.html
, accessed 07/19/2010). The potential impact of recession on the mind-set of Americans is discussed in Paola Giuliano and Antonio Spilimbergo, “Growing Up in a Recession: Beliefs and the Macroeconomy,” NBER Working Paper, September 2009. The British Treasury’s response to Keynes’s suggestions during the Great Depression is in Anatole Kaletsky,
Capitalism 4.0
(New York: Public Affairs, 2010), p. 50. And Alan Greenspan’s shock was recorded in Brian Knowlton and Michael Grynbaum, “Greenspan ‘Shocked’ That Free Markets Are Flawed,”
New York Times
, October 23, 2008.

ABC

Abell, O. J.

abortion (feticide)

Abu Dhabi

Aché

adaptation

adultery

advertising

news and

television

Africa

polygamy in

premarital sex in

slave trade in

Agent Orange

agriculture

food prices and

future of

illegal immigrants and

productivity in

slavery and

Agriculture Department, U.S.

airlines

air pollution

airports, Hare Krishna in

Aktion T-4

alcohol

altruism

American Airlines

American Association of Retired People

American Indians

American Society for Reproductive Medicine

Amway

Anabaptists

Anderson, Chris

anemia

animal welfare movements

apes, bonobo

Apple

Aquinas, Thomas

Archimedes of Syracuse

Argentina

Ariely, Dan

aristocracy

Aristotle

Arno River

Asia

financial crisis in

AT&T

auctions

Augustine, Saint

Australia

auto industry

Babylonian code

Badalone
, Il
(barge)

Bangladesh

banks, bankers

earnings of

regulation of

Bardot, Brigitte

Barton, Joe

baseball

basketball games

beauty, wages and

Becker, Gary

Beckham, David

Beecher, Thomas K.

behavioral economics

Belgium, Belgians

Benedict, Pope

benefits

Benny, Jack

Berlioz, Hector

Bernanke, Ben

Betzig, Laura

Bhutan

Bible

bicycles

BigChampagne

bike helmets

birds

birth-control pills

Black Death

blacks, workplace fatalities of

Blinder, Alan

body

Book-of-the-Month Club

books

Borgerhoff Mulder, Monique

Bourdieu, Pierre

BP

Bracero program

Brand, Stewart

Brazil

culture in

Pelé in

bride prices

Brooklyn

Brown, Dan

Brunelleschi, Filippo

bubbles

Buffett, Warren

Burkina Faso

Burundi, happiness in

Bush, George W.

business

Caen

California

California, University of (Berkeley)

campaign contributions

Canada

culture in

singles vs. married in

cancer

Canon

Cantor Fitzgerald

capital

human

capitalism

carbon emissions

“Care for Girls” initiative

cars

fuel efficiency of

see also
auto industry

Cashat-Cruz, Miguel

Catholic Church

cell phones

CEOs, earnings of

charity

Chiang Kai-shek

Chicago, University of

child mortality

children

bike helmets for

education of

faith and

female

happiness and

women’s rearing of

China

future of

genetic variation in

income in

missing girls in

pollution in

workforce in

Chisasibi Cree

chocolate

Christianity

Christmas Carol, A
(Dickens)

Chrysler

cigarettes

Citigroup

Clean Air Act (1970)

Clear Skies Act

climate change

CNN

Coca-Cola

coffee

Colombia

colonial America, work in

competition

of airlines

for managerial talent

between newspapers and Web

of patented drugs vs. generics

restraints on

computer chips

computers

comScore

concerts

Congo

Congress, U.S.

campaign-finance legislation and

copyright and

Greenspan’s testimony to

lobbying of

regulation and

see also
House of Representatives, U.S.; Senate, U.S.

Congressional Budget Office (CBO)

Consumer Product Safety Commission

consumers, consumption

free things and

contraception

Cook, James

Copernicus, Nicolaus

copyright

corporations

wages and

Corrupt and Illegal Practices Prevention Act (1883)

corruption

politics and

cotton

coyote

credit

crime

Crompton, Samuel

Cruise, Tom

Cuba

culture

affordable traits and

politics and

repugnance and

Daimler AG

Dark Knight, The
(movie)

Darwin, Charles

Darwinism

Das Gupta, Monica

Dasgupta, Partha

Deaton, Angus

De Beers

Defense Department, U.S.

demand

democracy

Deng Xiaoping

Denmark, Danes

Denver shoppers

deregulation

Descartes, René

Desperate Housewives
(TV show)

developing world

climate change in

garbage dumps in

sex in

Dickens, Charles

Digital Rights Management technologies (DRM)

discount rate

discrimination

divorce

finances and

dogs, as food

dot.com
bubble

dowries

drivers

drugs

abuse of

Duke University

Dunkin’ Donuts

dwarf tossing

Easter Island

Easterlin, Richard

Eastern Europe, former Soviet satellites in

Eastman, George

Eastman Kodak Company

economic growth

happiness and

economics for a new world

“Economics of Superstars, The” (Rosen)

education

of children

wages and

of women

efficient markets

eggs

Egypt, Egyptians

Ehrlich, Paul R.

Eisenhower, Dwight D.

elderly people/senior citizens

elections

U.S.

electricity

elephant-seal cows

Elías, Julio Jorge

e-mail, spam and

Emergency Highway Energy Conservation Act (1974)

Empire State Stem Cell Board

encyclopedias, free

energy

engagement rings

engineers

England

environment
see also
climate change; pollution

Environmental Protection Agency (EPA)

Epson

ESP printers

Essay on the Principle of Population, An
(Malthus)

Ethiopia

Ethnographic Atlas
(Murdock)

eToys

Eurobarometer surveys

Europe

Catholic Church in

decline of polygamy in

happiness in

lack of sprawl in

U.S. compared with

work hours in

see also
Western Europe

European Climate Exchange

European Union

evangelical Christianity

executive pay

ExxonMobil

faith

benefits of

cheap

cost of

Fallaci, Oriana

families

changes to

culture and

income of

of 9/11 victims

size of

Fanning, Shawn (the Napster)

Federal Communications Commission

Federal Food, Drug, and Cosmetic Act, Delaney Clause to (1958)

Federal Reserve

Federal Trade Commission (FTC)

“Feeding the Illusion of Growth and Happiness” (Easterlin)

Feinberg, Kenneth

fertility

decline in

female

file sharing

film

financial crises

financial services

fines

fire departments

fishing

floors

Florence

foeticide

food

culture and

faith and

preparation of

price increases for

surpluses of

Food and Agriculture Organization

Food Quality Protection Act (1996)

Ford

Ford, Henry

Foreign Corrupt Practices Act

Fourier, Charles

France

happiness in

work hours in

Frank, Robert

Free
(Anderson)

Freedom Communications

free lunch, use of term

free rider problem

free things

broadcast TV and

movies

music

and Napstering the world

and profiting from ideas

freeware

Freud, Sigmund