Bio for Mark Buchanan
Europe’s Tax on Financial Trades Is a Risky Bet
May 05, 2013 | No commentsMillions of Europeans are about to become the subjects of a vast social experiment. What’s troubling is how little anyone understands about where it might lead.
Beware of Economists Peddling Elegant Models
April 07, 2013 | 50 CommentsMathematics can be beguilingly elegant. It can also be dangerous when people mistake its elegance for truth.
Today’s Forecast: Sunny With a Chance of a Housing Bubble
March 19, 2013 | No commentsAt the time of World War I, many meteorologists had all but given up on the idea of accurate and scientific weather forecasting. Then a physicist and ambulance driver by the name of Lewis Richardson, in spare moments between terrifying bouts rescuing the injured, undertook a momentous project.
Earthquakes and the Mind-Bending Laws of Markets
March 18, 2013 | No commentsLike the devastating Japanese earthquake of 2011, the stock market crash of Oct. 19, 1987, came as a total shock to most people. Yet the crash wasn’t entirely without warning. Five days before, the Dow Jones Industrial Average dropped 95 points, which was then an all-time record. Two days later, it closed down another 108 points. Just like others crashes -- 1929, for example -- and all major earthquakes, the 1987 crash was preceded by significant rumblings.
The Insupportable Equilibrium of Economic Thought
March 17, 2013 | No commentsConjure an image in your mind: a pencil resting on a small table, perhaps next to a notebook. In what position did you imagine the pencil? Lying on its side, right? Why not upright, with either the eraser or the graphite tip touching the table and the rest pointing into the air?