1.  Is the efficient market hypothesis so widely objected to because many people are just viscerally reacting against the word “efficient”?

…if people just called the thesis that financial markets are unpredictable the “unpredictable markets hypothesis” then I doubt that people outside the Department of Ketchup would be very interested in arguing with them, and the likes of your humble blogger would certainly lack the quantitative chops to pursue the argument.

Perhaps economists should do away with the phrase “efficient” altogether. Life might be a lot easier if they replaced it with “pareto-atized”.

(H.T. DeLong)

2. What was once just immoral, inefficient, regressive, and stupid is now extremely immoral, and still inefficient, regressive, and stupid.

3. A recent ABC poll says that 81% of Americans think medical marijuana should be legalized, and 46% think it should be legal in small amounts for recreational use. So whose holding the country back? Grandma and Grandpa:

Age is a factor. Just 23 percent of senior citizens favor legalizing marijuana for personal use; that jumps to 51 percent of adults under age 65.

4. Arnold Kling calls for a wage freeze for government workers:

As far as I can tell, any argument for more government spending to reduce unemployment in this recession can be turned into an argument for lower salaries for government workers.

5. I’m glad Conan is losing the tonight show, his talents are wasted there. I doubt if anything he’s done as a talkshow host has yet to match anything like this or this in quality. I’d like to see what he can do when he doesn’t have to put out 5 hours of programming a week and spend half his time interviewing celebrities. Maybe he could write a Simpsons movie.