Think Economically


Maximum understanding, minimum average total cost.

News and analysis: Lego Friends sells well, Organic food is no healthier, Bulgaria nixes EU membership plans

Lego’s Friends line has been a huge success. I’m mostly pleased by this, but I have somewhat complicated feelings.

I have a daughter, and it’s a little frustrating that the opportunities provided for girls to play a career include a beautician, a veterinarian, a horse trainer, a baker, a fashion designer, and a rock star. I’m glad they included the inventor but it smacks of tokenism. It’s also frustrating that there’s a bunny house and a pet patrol and a horse trailer and a puppy house–it’s bunnies and puppies and kittens and pink and purple. I’m just as offended, I suppose, by the violence in a lot of the boys’ kits, but with the inclusion of molded figures that don’t match minifig scale, the City and Creator Lego sets don’t seem intended to integrate into the Friends’ world.

My hope is that the crazy success of Friends’ means that they’ll release new models annually–and you can’t build a beauty shop every year. Here’s hoping we get to see ambulance drivers and astronauts and architects this go-round (and that’s just the A’s).

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This week I have read: Patent Trolling, Cloudpaging, Santorum’s Polls, Obama’s Polls, Taco trucks, Gas and Crude Oil Prices, LEGO Monthly Mini Builds

Patents are broken

Economists, for the most part, have not yet developed the tools to think about information goods. Undergraduate econ still revolves mostly around agriculture. So what do we do about software patents? Or the sharing economy?

I got nothin’. Maybe I’ll devote some focused thought to it some time soon. By then, of course, the entire industry will have changed.

For and insider’s view on the patent wars, check out Andy Biao on his work on patents for Yahoo that have been weaponized and fired at Facebook.

Polls are broken

Political polls have been turned into the analogue to baseball statistics by Nate Silver. As someone who teaches and uses statistics, and watches politics and baseball, this has been delightful. And yet.

Nate Silver points out that Santorum has significantly outperformed his poll numbers. What to make of that? Are people disinclined to admit they’ll vote for Santorum?

That would be odd enough, but no one can figure out whether Obama is universally reviled or climbing back into the catbird seat. On net, InTrade seems to think there has been little change in Obama’s likelihood of reelection in the last six days, and so I read all that news for nothing.

Tacos are yummier from trucks?

For some reason Felix Salmon wants to know why tacos taste better from taco trucks. For some other reason, Matt Yglesias responds. My guess? Because you’re at SXSW and it’s a slow news morning? Also something about more competition, lower average total cost, etc. It doesn’t actually seem that mysterious.

The President can’t affect gas prices

In the CBS/NYTimes poll linked to above, 56% of people thought that the President could affect gas prices. He can’t. Peter Van Doren and Jerry Taylor over at Cato point this out, but if you don’t like reading words and stuff, the White House has just released a very involved, but stylish, infographic. Personally, I think they protest a little too much, with a dash of preaching to the choir.

Ultimately, James Hamilton argues it shouldn’t matter for the recovery, and IMHO, he would know. Matt Yglesias concurs.

Everything else

It was a good week for us. Personal spending is low; personal income is steady. David Brooks is apparently a Mets fan. I bought some silicone-based glue to repair a mug. Also, LEGO Monthly Mini Builds are awesome and brickset has instructions from mid-2010 onward.

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