Economic Tidbits

Hmmm (Holiday Bonus Edition)…

“Most people didn’t come to stay.” David Wishart, University of Nebraska geography professor, commenting on the settlement of Nebraska. Mathew Hansen, Flatwater Free Press, Homesteader Myth, Reality Shape Nebraska, Lincoln Journal Star, Dec. 12, 2021.

“Edwards was the first researcher to count the number of homesteaders who claimed Nebraska land and actually made it to the five-year mark. His answer: roughly 55%. Basically a coin flip. The rest got sick, went broke or cut bait and left. And many of those who did make it sold quick and vanished, too.”  Mathew Hansen, Flatwater Free Press, Homesteader Myth, Reality Shape Nebraska, Lincoln Journal Star, Dec. 12, 2021.

“The world is a sufficiently complicated and uncertain place that the most valuable thing economists have to share is often not their conclusions, but the path they took to reach it—the facts they knew, the way they interpreted those facts, the deductive steps they took, the remaining sources of their uncertainty.” Abhijit V. Banerjee and Esther Duflo, Good Economics for Hard times, Hachette Book Group, 2019.

“A bend in the road is not the end of the road—unless you fail to make the turn.” Helen Keller

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