Saturday morning commentary:

  • An amazing retirement letter from hedge fund founder Andrew Lahde
  • How to get up early, and a nice (completely uneconomic) story of swimming in the Lake District, from Tim Harford
  • A plan for the digital economy to help kickstart the economy (not yet much of a plan but interesting to see what comes of it), on top of bringing forward several billion of capital spending from 2010-11 to the current year.
  • Gordon Brown's reservations about "the weaknesses of unbridled free markets". For me, these can be summarised simply: the prisoner's dilemma, the agency problem, asymmetric information, transaction costs and a collection of problems related to unpredictability and risk. Hopefully the solutions will not be worse than the problems. Another post on this later today.
You can access about four FT articles before you need to register for a trial subscription, so the links above should just about use your quota.

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