Venezuela's Cheap Gas

This article from the WSJ describes some of the effects of subsidizing gasoline in Venezuela.An interesting point is that folks there use 7 times as much gasoline as neighbors in Columbia.

If the article fails to load, do a Google search for the title.

Evolution and Game Theory

This article in the WSJ reports a study looking at the genetic determinants of our behavior in games where the alternatives are to cooperate or to defect. 

Debate between Evans and Lacker

The Virginia Commonwealth University's School of Business hosted a discussion between two Presidents of Federal Reserve Banks, Jeff Lacker from Richmond and Charlie Evans from Chicago. They represent the two extremes of the positions taken by members of the Federal Open Market Committee. Lacker argues for monetary restraint while Evans thinks the Fed should attack high unemployment like "our hair was on fire."

A video, with a link to the slides used by Evans.

The press release from the Richmond Federal Reserve Bank, with video and slides.

The Washington Post – story includes link to our School of Business website 

http://www.washingtonpost.com/business/economy/fed-officials-debate-stimulus-inflation-policies/2013/04/02/545d3e62-9c05-11e2-9a79-eb5280c81c63_story.html

The Wall Street Journal – mentions Virginia Commonwealth University 
http://blogs.wsj.com/economics/2013/04/02/hawk-vs-dove-fed-officials-face-off/

The New York Times – mentions Virginia Commonwealth University 
http://www.nytimes.com/2013/04/03/business/a-debate-in-the-open-on-the-fed.html?_r=0

Reuters – syndicated worldwide, mentions Virginia Commonwealth University 
http://www.reuters.com/article/2013/04/03/us-usa-fed-lacker-evans-idUSBRE93201120130403

Bloomberg – mentions Virginia Commonwealth University
http://www.bloomberg.com/news/2013-04-03/fed-lacker-evans-clash-pits-japan-specter-against-70s-inflation.html

Richmond Times-Dispatch – VCU School of Business Foundation in headline 
http://www.timesdispatch.com/business/economy/federal-reserve-presidents-differ-on-monetary-policy/article_c941f754-6f59-54e4-9250-d7fbed9684d3.html

MNI Deutsche Borse Group – mentions Virginia Commonwealth University Business School 
https://mninews.marketnews.com/index.php/feds-lacker-evans-square-debate-over-mon-pol-risks?q=content/feds-lacker-evans-square-debate-over-mon-pol-risks

From the Mouth of the Horse

This clip is a good summary of Obama's position on the ACA.

What is Health Insurance

This opinion does a nice job describing the difference between catastrophic health insurance and pre-paid medical payments and argues that Sebilious does not understand the difference. The writer does a nice job illustrating the moral hazard associated with pre-paid medical payments.