The Bizarre Immorality of Economics

Pink Floyd are trying to sell their assets, but the discount rate is going to be about 5%. When Bruce Springsteen sold his back catalog, the rate of interest on Fed funds was close to zero. The interesting thing is it shows that Bruce Springsteen is a particularly brilliant investor and Pink Floyd are particularly bad investors because the back catalogs price as we talked last week. We're also going to talk about a dilemma in economics which should be a really good dilemma, but is actually regarded by economists as a bad dilemma.