I just finished reading Tim Harford's book, "The Undercover Economist" and can heartily recommend it to anyone who has even the slightest interest in how all sorts of markets work from coffee shops, supermarkets, to sulfur and carbon emissions markets all the way through national economic policy surrounding globalization and free-trade. The subtitle reads "Exposing Why the Rich Are Rich, Why the Poor Are Poor--And Why You Can Never Buy a Decent Used Car!" As the Economist magazine quotes inside the front cover, it's really "A playful guide to the economics of everyday life." The whole book is a witty and quick 250 page read. I would even go so far as to say that it is probably the best, most witty and readable articulation of fundamental economics principles that I have come across. And while I enjoyed Steven Levitt's Freakonomics book, this one was much better at articulating and detailing fundamental principles. Now many folks might be put off by that description, but trust me, the whole work is an engaging read with stories and anecdotes that relate the principles in the process, quite unlike any boring textbook on the subjects. Here is ...

Last week's post on the Globalization of Leadership ended with a clarion-call for change. Given that the entire US economy is built upon a foundation of energy and energy policy, it makes sense to start looking there to see where the biggest economic levers lie.  Here, I offer a somewhat more analytical approach than can be found in the general media.

The older I get, the more I am a believer in the power of free markets.  The natural balancing and moderating influences of free trade have been fundamental to our nation's economic power and health.   I'm also a big believer in exposing people to what this means in their daily lives as early as possible.  So I couldn't resist forwarding this post from Janet over at her "Adventures in Science and Ethics" blog entitled "I owe my soul to the classroom store."

Did anyone else happen to notice the new buildings going up in Dubai?  I mean besides the giant artificial islands they have been creating in the gulf over the last several years. The nearly completed Burj Dubai is now the world's tallest building, a true marvel of architecture, Art, design, engineering, and initiative.  And oh yes, it is a beacon that screams of the fantastic economic wealth that underpins the great endeavor.

I just stumbled upon a fascinating article on Science in the Islamic World, by a Pakistani scholar named Pervez Amirala Hoodbhoy at PhysicsToday.org. The article is mostly an exploration of the rise and fall of scientific inquiry in the Islamic states and the attendant root causes. There are clearly lessons here even for Western states that face rising tides of fundamentalism and calls for conformity, religious or otherwise.The author doesn't skip a beat as he calls out the similar US trends surrounding religious conservatives and their push for Creationism, Intelligent Design, curbs on genetic research, and so on.But there are also some interesting tidbits on the technologies for daily living in the Islamic world, and how they have penetrated largely in support of the religions which otherwise strive to limit their spread."...while driving in Islamabad, it would occasion no surprise if you were to receive an urgent SMS (short message service) requesting immediate prayers for helping Pakistan's cricket team win a match. Popular new Islamic cell-phone models now provide the exact GPS-based direction for Muslims to face while praying, certified translations of the Qur'an, and step-by-step instructions for performing the pilgrimages of Haj ...

Okay, I admit it. I'm a nerd. But this one killed me.