var_eps

When I was in Berlin last winter, I noticed a few coffee shops that had strict no-laptop policies at the front but often allowed laptops in back rooms or further away from the entrance. Seemed like a win-win.

Why is the rate change important? For two main reasons: 1) it signals the intention of the FED to actively use its tools to manage the growth of the economy as opposed to uncritically encouraging it; 2) even a token charge decreases the demand for what was once free and breaks a crucial psychological barrier for further increases in the future (see point 1; also, the freemium model in apps for an analogy).

So any change upwards really matter after nearly a decade of decreases and the zero-bound rates.

Basis points communicate the absolute change rather than the relative change to remove ambiguity. For example, consider a 1% interest rate: if it goes up by 100 BPS, the new rate is 2%; if by 1%, the new rate is 1.01%.

The article does not consider the most onerous and backwards provision debated as a part of the consultation: a mandatory 5 minute wait period between getting a car and start of the journey, even if the car is available immediately.

I'd recommend Irving Kirsch's __Emperor's new drugs: Exploring the antidepressant myth__ as an accessible introduction to this topic.

The book goes beyond statistics and draws attention to "clinical significance" that is crucial to keep in mind when evaluating drugs. Statistical significance helps to inform whether a metric has changed; clinical significance tells whether it actually mattered from a patient's perspective.

This is one of my most favorite essays and I think about it daily. I increasingly believe that modern workplace, with its emphasis on open space plans and team work, gradually develops groupthink that can be potentially destructive. [1]

It is not only the absorption of others' opinions. It is impossible to pause and critically evaluate thoughts for several minutes when not alone. Mistakes remain unidentified mainly because no one had a moment to discover them; conversely, they might get dismissed if their understanding requires larger amount of time. It is difficult to think for oneself. I work in a management/economic consultancy and see this every day.

How can "solitude" enter work?

[1] The Organization Man by William Whyte, a classic management book from the 50s, is a relevant resource for a critical analysis of a workplace along these lines.