Peter Levin’s Rethinking Markets

December 17, 2008

giving thanks

Filed under: Ramble — Peter @ 8:03 pm

Last week, I flew to Chicago for a day, to be with mom as she required a surgical procedure to test some cells. Ya, we can call this a biopsy.

This week, test results came back that she’s fine (Mmhm. How often does that happen, huh?). Through snark and snivel about life in New York and work in the big bad academy, I want to remember today. Today, I am grateful for the health of my parents.

Ok, back to tasks at hand.

December 16, 2008

Raindrops on roses, and whiskers on kittens

Filed under: Ramble — Peter @ 11:30 am

These are a few of my favorite things, mostly 2008:

Drop Box, a ‘cloud’ storage site. On a Mac it looks just like any other folder, except it syncs across whatever computers you happen to use. Combine it with the uber-paranoia program TrueCrypt, and you can create an incredibly secure way to share files across the web.

Bloons Tower Defense 3. Time-waster. I can do gold on almost every level except that last one…hrmph.

Sigur Rios’ Gobbledigook. NSFW video, love the song, reminds you what it is like to be mid-20s (even if, like me, you never actually pranced in woods).

Jen and my two (1, 2) vlog attempts. They’re amateurish, but fun to do and I’m a little proud of both.

The Money Meltdown and This American Life’s The Giant Pool of Money. Fabuloso attempts to understand the great financial crisis of 2007-

(the former) Bear Stearns’ Everquest Financial IPO. This is the ballsiest and most dishonest attempt to fuck the public in order to get out of its own subprime mess that I’ve ever seen. They created a shell company, dumped their worst assets into it, then tried to go public and sell it to investors. Failed IPO, failed company, Epic FAIL. (here’s the SEC filing). Be sure to check out the section on ‘risk factors’ starting on p. 17: “Our financial performance is sensitive to changes in overall economic conditions and may affect our ability to pay dividends on our shares.” Bwaaahahahaahahaha. “We own primarily ABS CDOs and CLOs. Our ABS CDOs hold primarily RMBS and to a lesser extent CMBS, synthetic asset-backed securities and other asset-backed securities. A downturn in overall economic conditions could lead to an increase in the default rates of residential or commercial mortgages, which would have a negative effect on the quality of the assets collateralizing these securities” Hooohohooooooowahahahahah….(whew, gotta stop laughing, starting to hurt). These assholes should not be bankrupt. They should be in jail.

Ina Garten’s Rosemary Cashews.

The amazingly fun to see Sartorialist blog, fashion and style without irony.

Blueprint. Grid-based CSS design.

Canada! (well, the song, not the video).

Patrick Winston’s How to Speak, in 13 parts.

The Superest, and XKCD.

And finally, Emergency Go Bags! We put together the urban bag, and it is like a small but significant part of my brain finally stopped holding its breath. If I can get my Flu Pre-pack together anytime soon, another part will probably do the same.

December 15, 2008

Final Exam questions

Filed under: Ramble — Peter @ 10:40 am

This is my final from my Sociology of US Economic Life class. They get the questions in advance, and I’m choosing 3 for the final..

1. Stiglitz (Globalization and its Discontents) argues that there is a “Washington
Consensus” between the IMF and World Bank that directs most of the global efforts
towards international aid and development. What is this consensus? Why is Stiglitz so
critical of it? Give 2-3 examples of how IMF policies have been used around the
world in supporting your answer.

2. In Everything for Sale, Kuttner laments that there is a danger when “market norms
drive out non-market norms” and that “market theory conceives of economic
relationships as purely instrumental. All transactions are at arm’s-length, and there is
no room for sentimentality.”
A. What is the concern about market norms driving out non-market norms?
Using examples from readings or lectures, explain why this concern is
convincing or unconvincing.
B. Using Granovetter’s (“Economic Action and Social Structure”) argument
about embeddedness and “ongoing social ties,” explain how “embedded”
relationships might actually make markets more (allocatively) efficient. Give an
example of how this might work.

3. According to Cass Sunstein, under what circumstances will markets not stop
discrimination? Explain at least three of these reasons, giving examples of how they
would work in practice.

4. In this course, we’ve examined a number of real-world markets as well as some of
the theoretical bases for how markets operate. Drawing on at least 2-3 readings you
feel are appropriate, explain why it is dangerous (or at least dubious) to assume that
markets are “natural” and/or “self-regulating” and/or “disembedded.” Then, explain,
using 1-2 concrete examples, how understanding the links between markets and
their “non-economic” elements might actually allow us to make markets more useful.

5. In MacKenzie’s Engine Not a Camera, he argues that options markets developed in
part because economists created models of the world (e.g., the Black-Scholes
formula, or Capital Assets Pricing Model), and then imposed those models on newly
emerging options markets. But in Nature’s Metropolis, William Cronon argues that
futures markets evolved out of the emerging technologies of the time (e.g., cheap
railroad transportation, grain elevators). Explain the main arguments around the
development of grain futures and the financial options market. Which of these views
- markets ‘evolve’ or markets are ‘made’ - is more persuasive?

6. In Class Acts, Rachel Sherman attempts to understand interactive service work and
class inequality in the context of luxury hotels. Answer the following:
A. What makes service work different from factory labor, and why can’t
we just use the models we have for factory work to examine service
work?
B. Although Sherman thought she was going to find that luxury service
work would highlight class inequalities, instead she found that workers
in the hotels minimized class inequalities. How did that happen?

7. What are some of the strategies that luxury hotel workers used to maximize their
own autonomy, and to control the ‘labor process’ at work? What are some of the
ways that management imposed discipline on these workers? In what ways, if at all,
did autonomy and control work differently for the ‘front of the house’ and ‘back of
the house’ workers?

8. What is the “stakeholder solution” proposed by Ackerman and Alstott? What kinds
of inequalities would this solution solve? What types of inequalities would remain
unsolved by this kind of proposal?
A. Give 1-2 examples of features that the stake would help to fix?
B. Give 1-2 examples of problems that would not be addressed by
stakeholding.

9. What is Stiglitz’s problem with “hot money” with regard to the IMF goal of
liberalizing capital markets? Give one or two examples of how this can occur,
drawing from Globalization. What are some solutions Stiglitz suggests to fix this
problem?

10. Are brands a positive or negative element of contemporary economic life? Drawing
on the branding articles (Wilcox, Bourdieu, Naomi Klein) as well as the branding
guest lecture, make an argument for why brands are good for consumers and/or
companies, or why brands are bad for consumers and/or companies.

December 12, 2008

Cue music

Filed under: Ramble — Peter @ 4:18 pm

Feeling down? Need some inspiration?

Now, go get ‘em!

December 7, 2008

The skill of gymnastics. The kill of karate. Master of…gymkata!

Filed under: Ramble — Peter @ 11:09 pm

When they make akaratedemia, I’m looking forward to fending off a bunch of eastern Europeans with a thousand paper cuts and my katana of knowledge.

(just so lucky that pommel horse was installed a few years back…)

November 25, 2008

Stupid human tricks

Filed under: Ramble — Peter @ 5:55 pm

If you take your mighty mouse with the annoying, gunked-up trackball, flip it over, and roll the trackball over a clean sheet or two of paper, it’ll pretty much make it work like new.

November 17, 2008

Congratulations, Jeremy

Filed under: Ramble — Peter @ 7:15 pm

For well-deserved recognition in a super-secret hobby. I’m not a Freese fanboy myself (though I know many), but even I can admit that this feat was impressive in the face of terrific competition.

And to the realization that the pain and pathos of writing speaks to the human condition. And zombies.

November 2, 2008

Driving like an animal

Filed under: Ramble — Peter @ 12:26 am

October 30, 2008

GYWO

Filed under: Ramble — Peter @ 5:32 pm

I remember when Get your War On was a comic, but now it’s a Cartoon!.

October 29, 2008

Just a little more politics

Filed under: Ramble — Peter @ 1:20 pm

I’m a sucker for this kind of stuff. I would add that if you’re not reading five thirty-eight’s on the road series, you are missing out.

October 28, 2008

I don’t usually like Halloweeny things, but I do usually like 80s things

Filed under: Ramble — Peter @ 4:10 pm

Whoa.

October 27, 2008

What to do with a Republican family?

Filed under: Ramble — Peter @ 12:10 pm

My politics are my late grandmother’s, who was born in 1917, saw her father lose most everything in the Depression, saw most of her extended relatives get killed in the Holocaust, and who obsessively watched TV news, shouting at the insanity of the world. That is, pretty Democratic.

My siblings, on the other hand, are 3 of the 4 legs of the modern Republican party- pro-Israel Hawkishness, pro-gun libertarian, and pro-wealth social moderate. No evangelical Christians. And so, this is the text of my last email to them. Direct conversion is out of the question:

Hey boys,
Well, today we mailed in our absentee ballots, and we’re briefly out of the country for the election, celebrating my friend Laura’s wedding. And of course I voted for Obama. I’m hoping he wins and is awesome, and not a crazy person after all. So I’d like to get in a little pre-emptive scenario watching:

1) he loses, McCain is awesome, and I have to eat crow from you all for the next 4 years.
1a) he loses, McCain is a disaster, and I get to bitch and moan to you all for the next 4 years

2) he wins, but he’s terrible, and I have to spend the next 4 years alternating between apologizing for him and defending him.
2b) he wins, and he’s awesome. And I get to rub it in.

and my secret hope:

3) he wins, and he’s super-duper-awesome, delivering much of what he promises in terms of substance, change, and hope. And you morons end up being the people who have to explain to your children and grandchildren why you voted against Gandhi/Abraham Lincoln/Superman, and instead you voted for that other dude and his Mavericky, one-note sidekick..

Think about that. There’s still time to change your minds.

Anyhow, I’ll see y’all in December, and sorry to miss you in Nov. Hope your Halloweens are wonderful. This year I’m going as a bright-eyed optimist, ready to work as if I live in the early days of a better nation.

Yours,
your far-left, palling-around-with-terrorist-loving, anti-Israel, anti-American, elitist, pro-gay-marriage, pro-disarmament, spreading-the-wealth-around, baby brother.

We’ll see if mocking+history works where reasoned argument fails.

October 21, 2008

This is only going to be funny to someone of a particular generation

Filed under: Ramble — Peter @ 10:08 pm

Mine.

What I like most are…

Filed under: Ramble — Peter @ 3:38 pm

the keywords: Undecided Voters; Presidential Campaigns; 2008 Election; Airplane Food; Mothers; Presidents; Humphrey, Hubert

October 13, 2008

Bose knows customer service

Filed under: Ramble — Peter @ 9:41 pm

There’s an organizational story about how one little screw makes or breaks the machine, but this is not that. Instead, this post is a shout-out to Bose. Last year, darling partner went hog-wild and got me a pair of noise-canceling headphones. And the cord that connects the headphones to my music device of choice (classic iPod) broke.

After searching fruitlessly for the cord online, I dropped by the Bose store to buy a new cord. And instead, they gave me a new one.

Thank you, Bose!

In a world where crappy, good-enough products and craptacular customer service is becoming the norm, Bose stands out. And for that, they deserve a big fat public thank you.

October 11, 2008

We need to talk

Filed under: Ramble — Peter @ 3:04 pm

Yes, we. You. You and me. We need to talk.

First, thank you to those kind souls who donated to my donorschoose challenge. I’d still love for you to give if you have the resources to do so. But I really appreciate those who did, and I’m going to match the current donations up to $100.

More importantly, we need to rethink this blog a little. I’m not burnt out of blogging per se, but I need more interaction. As I’ve said elsewhere and in slightly different context, this is due to my tone, my choice of topics, my personality. It’s not you, it’s me. That said, I need to have something happen. I don’t know what. But there’s something weird about shouting into the void with an imaginary audience in mind. Maybe this means giving the site over to someone else for a while or for good, or having some other kind of format that encourages participation, or turning this back into a teaching tool useful for me but not to others, or making it just a professional website. But something.

And so I ask (though I worry about getting 0-1 responses), what would make you participate more? What would turn this from me lecturing into a conversation? What should I do with the site?

October 10, 2008

Liveblogging America’s Next Top Model

Filed under: Ramble — Peter @ 9:14 pm

9:02: I’ve been wanting to do this for a while. Tonight I’m live-blogging America’s Next Top Model. As Tyra croons through the opening, ‘Wanna be on top?’ You bet I do.

9:04: breakfast with the models, pancakes, tofu with salad, a discussion of how controlling their parents are. Elina’s mom is Russian, and mom never let her do anything. Man, she’sll show her. Lauren Brill is worried about her versatility. Gossip in the sunbathing outdoors, the rest of the girls are dissing AnnaLee, saying she’s pretty but doesn’t look like a model.

The models are off to a photo studio, with little information. They’re really confused. A picture of Tyramail arrives, with the lady in person to follow (dressed in Postal gear). She hits them with a little poetry, and she’s off.

In come the girls to the shoot, where Tyra is now taking pictures in a black top, black leather skirt (Jeez, boobs!). Today is all about the signature pose! Tyra says tne thing I was known for is….this (Pow! Steely stare! I’m feeling fierce here at home just watching). 10 pictures on their own, and then 10 photos after coaching.

Aw shit! AnnaLee is going rebel skater girl!! Now Makine is working the curve of her neck (the ‘boxer’), Sam is goin’ all HANDS and shit! Tyra lets her know, the hands should be an extension of her body - good tip. Lauren Bree is goin’ for a self-professed awkward pose! G’damn! Tyra says she looks a little amputee. Ok, she’s better, going Surfer Girl (but the hands! She’s doing the crab!). Assessment? Pretty but empty (and she knows it - she’s crying about her worries about going home)

ok, break..

9:17
Back and feeling good about the poses. The idea now is for the girls to get a little coaching and then get back in front of the camera for another 10 shots. Things go so fast, it’s hard to keep up.

Ok, forgot that there are still others to go for the first round. Sheena, going for a signature ‘cultural dance.’ Not hootchie (demonstrates Tyra), but more African dance. Josyln is going for posing wide. A little stiff - and Bam! Profile! Aleena is going for ‘top model of the world’, she’s such an editorial girl, not a top model girl. Shapow! Lose control, Aleena!

Marjorie is doin ‘hunchback’. Love it - bells of ND are ringing, but wow she’s looking too hunchy. Tyra tells her she’s made it into a Hunchback of Notre Dame, BUT MODELING! AND SHE WINS THE FIRST ROUND!!! Eveyrone saw the magic that happened, I had my doubts, but Tyra tells me it was clear.

And so Marjorie and her Analeigh are getting to pick out a couple of pieces of jewelry. Bling for the huncher!

Ok, more Tyramail, telling them they need to really bring it. I thought Bring It went out with Kiki Dunst’s cuteness. They’re in the theater, and one of the models just said whatever she does is going to be ‘off the hizzle!’ You know it man. You know it.

Blah blah blah Jay, blah blah, looking for the fiercies. Fierce is what it’s all about, at least today - but really Tyra is always fierce. Conversationista!!

Marjorie is now being asked to do hunchback but on the toilet!! No, seriously. She’s supposed to be taking a shit in a party dress. And now she’s getting high-fives.

Cuecard reading for Sam, getting dissed somewhat by Jay. But she’s really getting flustered. Sam isn’t looking good. Alina by contrast is doing ‘overemotional crying actress.’ She’s a natural at this. C’mon woman! Lose control!!!! But seriously, if she can’t do ‘pouty actress’ better than Marjorie can do hunching shitter, she deserves to be sent home.

Ok, another break…for some reason I though ANTM was 30 minutes, not an hour, but I’m going to try to power through. Hells yes I am. I’m feeling empowered by the DonorsChoose donations, yes I am.

9:32
Back and a few more models to go for the second round. Apparently the task is to be embarrassing while also being model-y, I kinda missed that. Explains the weird bathroom woman. BTW, there’s a new show about being an ELLE intern, and it looks horrifyinglicious - Stylista!

Elina is back and ready to do her overemotional woman. Let go Elina, tell us when you feel not good enough! Jay, draw out the insecurity! Make her feel worse! Worse! WOW, SHE IS SO FIERCE!! I’m going to let go just like her, I wonder if it will work for me?

Lauren Brie is worried about the difficulty level - she’s supposed to be tripping on stairs. Don’t feel posed, she should really trip on the stairs. Arch her back now, looks a lot better (cute butt too). But dag if she’s being criticized for being too posed.

McKeyis doing ‘believes she should win but is about to lose the award’. And now she’s got Shina doing who knows what. And the final two women are doing ‘SNAP! We’re both wearing the same dress!’ Analeigh is still worrying about her signature pose, but she just needs to bring it. BRING IT! (apparently, she does bitchy very well - awesome).

Woot! More Tyramail. Only 7 can continue on, one needs to go home. A relaxing night at the house, and a little Rubiks’ cube action from one of the models (oh yeah, brains and beauty). Oh wait, someone just mucked up adding to 14. Oh well, the lord giveth with one hand and taketh with the other.

Break. And then we’ll see who is still in the running for….AMERICA’S NEXT TOP MODEL!!

9:41 During the commercial break I saw a Bank of America commercial, and it reminded me that the financial world is going to shit. Must return to models!

9:42 Back and now Tyra’s in a hoodie! A Hoodie!!!!! And yet, boobs!

Judges, blah blah blah, wow Paulina Porizkova, I used to have a poster of her when I was 15. Yep. First up judging, from the Fiercy awards.

McKee - beautiful, looks like she’s falling apart, but they’re liking it. E thinks she looks plastic, and I disagree, she looks less real than even plastic.

Shina, she looks possessed, all whites of eyes and shit! Uh-oh, Paulina says the body is good but not mind-blowingly good.

Blondie (missed her, AnaLeigh?) blah blah

Sam - looks like she’s sneezing, not modeling. Yeah, she’s going down.

Jocelyn - they are loving her!

ok, this judging kind of sucks. But wait!!! Jocelyn is crying! I take it back, loving the drama!

Marjorie, the hunching shitter, a comment from one of the judges: ‘you get yourself into the most extraordinary positions, but you look incredible!!’

Lauren Bree is on her way out. The judges frickin hated her.

The camera loves Alina, and now she’s crying again. So real, so good, so long baby. OMG!!! Tyra is suggesting that Alina model Halle Berry from her Oscar Award! Can you believe that shit! Seriously, do you remember that? Do you? DO YOU!!

Break, and then we’ll see whose ass is Audi.

9:52
Back and results. Blah blah judging. While we wait, our Chinese food has arrived, and I’m really looking forward to my egg drop soup. You know, Paulina looks kind of like a normal person nowadays. Ooh, and I think there’s shrimp and broccoli.

Ok, back to results. I’m still loving Tyra’s hoodie, she’s only got 7 photos, but there are 8 girls! Names called, best girl first (displayed in house as digital art):
Marjorie (hunchie-shitter)
Annaleigh
McKey
Samantha
Alina (not just feeling it, having other feel it too!)
Jocelyn

leaving Lauren Bree and Shina…I can see some crying coming. I think it’ll be Lauren Bree eliminated..c’mon Tyra don’t tease me…Shina has personality, but not great looks, Lauren has looks but no personality…and it’s SHINA!!!!!! Lauren Bree is fucking out of her.

No tears (not yet). Oh, wait, there are the tears, and she’s now rambling. I just noticed that Tyra has half-gloves on. Damn, she just got eliminated because Tyra says she has no personality. Brutal, but that’s fashion, one day you’re in and the next day you’re..oh wait. E wants to know where the ‘I’ll get you my pretties! I’ll be famous someday and you haven’t seen the last of me!!’ Nope, just slinking off into the curtain.

Welp. It’s been an eventful hour, a real joy. Have a good weekend!

October 5, 2008

Rethinking donations

Filed under: Ramble — Peter @ 2:52 pm

I am running a ‘challenge’ at Donors Choose, which is a non-profit devoted to providing public school teachers with resources.

My challenge is here. I’m asking people to donate $5, $10, more, whatever you can manage; and I’ve chosen projects that are about markets, art, and finance - well, to the extent that it’s possible for elementary school kids to do so…

I know most of the people who read this blog are lurkers, and I appreciate the attention and conversation from both active and passive readers - sometimes I receive emails instead of comments. I would really appreciate it if you could give any amount at all. Non-profits are facing a really challenging environment. And one of the casualties of the melt-down is almost inevitably going to be public schools.

So take a look. The organization is Donors Choose. And my ‘challenge’ is for Rethinking Markets.

Please consider making a small, in-between, or large donation. If not to my challenge, then to some project that sings to you.

October 2, 2008

getting the love

Filed under: Ramble — Peter @ 9:55 pm

I’m watching the vp debate, and damn if we jews aren’t getting the bipartisan love.

OK, Freese…

Filed under: Ramble — Peter @ 9:03 pm

…which one are you?