The moral content of economic terminology in the popular press: A guide
Foreign direct investment (inbound): Good
Current account deficit: Bad
Trade deficit: Catastrophic
Capital account deficit: Not used. Presumably bad.
Weak national currency: Bad
Exports: Good
Imports: Bad
Rising house prices: Good
Falling house prices: Bad
Affordable houses: Good
Unaffordable houses: Bad
Free trade: Neutral
Unfettered free trade: Bad
Fair trade: Good
Outsourcing: Evil
Buying local produce: Divine
Pay rises: Good
Low interest rates: Good
Inflation: Bad
Communism: Very Bad
Socialism: Bad
Capitalism: Bad
Markets in everything, pseudo-cannabis edition
More here. Jamaican Ghanja, Amsterdam Gold and Devil's weed are also on offer.
Does learning economics make you happy?
For the sake of argument, forget the fact that economics degrees tend to make you rich, famous and popular with the sex of your preference. Forget that it can transform mere mortals to social analysis gods. Focusing purely on the ways in which learning economics alters the way you feel, should a rational, perfectly informed, utility-maximising individual choose to study economics?
Judging from my own experience, the answer is yes. Here's why:
Friday Special 13
Fridge magnets for the internet age
Send self-destructing emails
A blog worth keeping an eye on: cutting edge architecture
This man can move anything (video). Watch the whole thing.
100 (video)
And two websites with something in common:
RYT Hospital: Pioneers of male pregnancy and creators of Clyven, a transgenic mouse with human cognitive abilities
Genpets: Genpets are living, breathing mammals. Bio-Genica is a Bioengineering Company that has combined, and modified existing DNA to create the Genpets lineup. Genpets have blood, bones, and muscle; they will bleed if you cut them, and die if mistreated just like any other animal. The electronic components are only in the packages and are for basic life support, outside of the packages the Genpets are wholly organic.
What's the most popular flag colour?
Using a list of countries generated by The World Factbook database, flags of countries fetched from Wikipedia (as of 26th May 2007) are analysed by a custom made python script to calculate the proportions of colours on each of them. That is then translated on to a piechart using another python script. The proportions of colours on all unique flags are used to finally generate a piechart of proportions of colours for all the flags combined. (note: Colours making up less than 1% may not appear)
More here, via Statistical Modeling. The individual countries' pie charts can be clicked on to reveal the actual flag:

For those not interested in making this into a Sunday quiz, here is a very persuasive case for a governmental ban on pie charts (including the best-in-its-class pie chart joke).
And finally, the readers most serious about packing information in the most efficient (and colourful) way will enjoy this paper by Gelman et al. on turning tables into graphs.
Is recycling a scam?
Google 'recycling' and what you get is a series of articles quoting scary statistics about the amount of waste we generate every year, tips for more effective recycling and calls to join the 'green revolution'. Combine recycling with almost every other search term you can think of ('recycling statistics', 'recycling facts') and you still get pretty much the same picture.
There is, however, a unique combination that will yield quite different results: 'recycling costs'.
Recycling is expensive. Even without taking into account the demands it places on people's time (a valuable resource), I think it is fair to say that most recycling programmes are loss making operations. While I could go on and on naming one local authority after another, the fact that private recycling operations are nowhere to be seen - with very few exceptions - neatly settles the argument.
When you read about a recycling programme 'paying for itself', what you see in effect is a covert tax on residents. When you see a recycling programme losing money, what you are witnessing is a public subsidy to the tree-hugger in all of us.
All the while, and completely discounting current welfare ('financial') considerations, it is at best debatable that recycling lives up to its purported raison d'etre - saving the planet. The environmental costs of recycling may well be far in excess of simply dumping waste. Extra trucks are needed on the road to collect the recycled bins, pumping tons of CO2 into the atmosphere. For many materials, the environmental cost of the energy used in recycling them is more than the environmental cost of simply tapping on nature's reserve to replace them.
Since the consumption of virgin materials or energy is not priced at marginal social cost, it is impossible to say with certainty whether a specific recycling operation is good for the environment simply by looking at the profit and loss account. For most materials, however, the available evidence seem to suggest that recycling is like shooting ourselves in the foot, all the while feeling we are doing the planet a great service.
Addendum: While looking at recycling, I came across this Wired article about GPI Atlantic's costing of the recycling programme in Nova Scotia. The headline finding was that Nova Scotia saved 'anywhere from $25 million to $125 million a year'. Here's more:
Simply adding up the costs of recycling and the revenue generated from sales of recycled materials would show that the program cost the province $18 million a year more than just throwing trash into landfills.
To get an accurate picture of the real value of Nova Scotia's recycling and composting program, the report considered a number of factors, including [...] the direct and indirect value generated from new employment in the recycling sector.
I assume that the recycling programme hired only chronically unempoyed, or even better, unemployable people - and I hereby petition the government to extend this beneficial policy and hire loads more in loss making public enterprises at subsidised wages. The direct and indirect value generated from employment of this type is surely worth it.