New 'safe' beds reflect the new economic reality

The more things change, the more they stay the same.

The bed manufacturer reckons that finding someway to keep your cash safe is becoming increasingly problematic. So it has come up with a new divan bed that conceals a safe.

The company admitted it was a 'tongue-in-cheek product' but added that it was a serious proposition.

A small safe with a sturdy lock the compact box is big enough to store a stack of notes, securities or valuable belonging like jewellery. Covered with a valance or chunky throw the safe will remain hidden from prying eyes, the company said.

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Animal Spirits Are the Economy

Animal spirits move the economy to the point someone got a Nobel prize for this?

Ya know, sure mass psychology, "herd behavior" and other factors assuredly come into play, especially in bubbles and troughs...

but in all seriousness if it is believed this is the primary market force...

Let's consult Jane Dixon for future predictions next.

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How Rational Are We, really?

For much of the 20th Century economists assumed that homo sapiens is rational, and that with equal access to data
rational outcomes would prevail. For a while now this assumption has come under fire because it's not really practicable in real life: labor and capital have different motilities, different accesses to variously layered and discontinuously distributions of data, which are often clumped require investments in analyses, etc. A key point about "Animal Spirits" is that we are attemptedly rational, we aspire to be so, but are not always so. Indeed, there's an article this week in the Economist that addresses why customers are often willing to pay more for drugs, even when they suspect prices may be lower elsewhere.

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I'm sorry but there is a huge difference between numbers, mathematics, science and trying to ascertain or predict human behavior.

I'm sure it comes into play but the issue here is trying to put human behavior as the "be all/end all" to economic systems is undermining the fact economic systems are fundamentally mathematical in nature.

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