Economics is so interesting
Cypher was a fun movie, twisty and a little noir, with some suspense and revulsion and action and sexual tension and everything. The only problem with it was a strange mis-step in the script: a couple of scenes were about incredibly boring lectures at conferences, and while they at least weren’t so out of touch to try setting it at a Linux conference, one of their topics was enthralling enough to make me wish they could’ve drawn out that scene just a little longer.
Ah, central banks and monetary policy, so thrilling.
Also intriguing is this article on experimental economics. This is the theory that was behind the “market in terror” that got shot down by knee-jerk ignoramuses not too long ago.
IN ONE EXPERIMENT they create minimarkets, with real cash rewards, that allow employees to bet on future sales and revenue. So far these internal futures markets have done a better job of forecasting than polls of top executives. The disruptive implications for the corporate pecking order, and not only at Hewlett-Packard, arent lost on anyone.
In other news, did you know that Governor Schwarzenegger has an economics degree and an honorary doctorate?