The Economist:

I made $970,000 last year. How much did you make?

IN BRITAIN, if you want to sell your home, an estate agent will list the property, find a buyer, help you negotiate a deal and guide you through the transaction, all for a commission of 2-3% of the sale price. In America, realtors provide the same services for roughly double the fee.

Are they worth it? The shouty realtors in David Mamet’s film Glengarry Glen Ross (pictured) certainly think so. (“[My] watch costs more than your car…that’s who I am.”) Others disagree. Chang-Tai Hsieh of the University of Chicago finds that American property brokers cause “social waste” of $8 billion a year via overcharging and inefficiency.

Ron Paul:

The financial crisis has fully exposed the intellectual bankruptcy of the world’s central bankers.

Why? Central bankers neglect the fact that interest rates are prices. Manipulating those prices through credit expansion or contraction has real and deleterious effects on the economy. Yet while socialism and centralised economic planning have largely been rejected by free-market economists, the myth persists that central banks are a necessary component of market economies.



These economists understand that having wages or commodity prices established by government fiat would cause shortages, misallocations of capital and hardship. Yet they accept at face value the notion that central banks must determine not only the supply of one particular commodity – money – but also the cost of that commodity via the setting of interest rates.

Alexis Madrigal:

Dairy scientists are the Gregor Mendels of the genomics age, developing new methods for understanding the link between genes and living things, all while quadrupling the average cow’s milk production since your parents were born.



While there are more than 8 million Holstein dairy cows in the United States, there is exactly one bull that has been scientifically calculated to be the very best in the land. He goes by the name of Badger-Bluff Fanny Freddie.

Already, Badger-Bluff Fanny Freddie has 346 daughters who are on the books and thousands more that will be added to his progeny count when they start producing milk. This is quite a career for a young animal: He was only born in 2004.



There is a reason, of course, that the semen that Badger-Bluff Fanny Freddie produces has become such a hot commodity in what one artificial-insemination company calls “today’s fast paced cattle semen market.” In January of 2009, before he had a single daughter producing milk, the United States Department of Agriculture took a look at his lineage and more than 50,000 markers on his genome and declared him the best bull in the land. And, three years and 346 milk- and data-providing daughters later, it turns out that they were right.

David Streitfield:

Google’s harvesting of e-mails, passwords and other sensitive personal information from unsuspecting households in the United States and around the world was neither a mistake nor the work of a rogue engineer, as the company long maintained, but a program that supervisors knew about, according to new details from the full text of a regulatory report.

The report, prepared by the Federal Communications Commission after a 17-month investigation of Google’s Street View project, was released, heavily redacted, two weeks ago. Although it found that Google had not violated any laws, the agency said Google had obstructed the inquiry and fined the company $25,000.

On Saturday, Google released a version of the report with only employees’ names redacted.

Sven Becker, Dirk Kurbjuweit, Peter Müller, Marcel Rosenbach and Merlind Theile:

Germany’s Pirate Party has gone from a tiny group of hackers to a significant force in an astoundingly short amount of time. Its growing pains are obvious to all, but the party could succeed in fundamentally changing German politics. First it must agree on what it stands for.



Now she knows what it’s like. Now she knows what politics feels like. It can hurt, and it can be extremely draining. On Thursday evening, Marina Weisband decided she had had enough. She cancelled a television appearance and checked herself in to Berlin’s Charité Hospital feeling faint and dizzy.

By then Weisband, party manager of the Pirate Party, was already familiar with the new rigors of politics and the challenges presented by her own party. She had been in the eye of a shitstorm and had been rudely berated online, all because she had written things that others didn’t like.


Last Thursday evening Weisband, 24, became acquainted with the rigors of the old system. She was a guest on a talk show hosted by Michel Friedman, a member of the center-right Christian Democratic Union (CDU), who accused the Pirates of providing a political home to “Nazis, racists and anti-Semites” — about the worst possible insult in German politics.

Toby Harnden:

Barack Obama has already held more re-election fundraising events than every elected president since Richard Nixon combined, according to figures to be published in a new book.

Obama is also the only president in the past 35 years to visit every electoral battleground state in his first year of office.

The figures, contained a in a new book called The Rise of the President’s Permanent Campaign by Brendan J. Doherty, due to be published by University Press of Kansas in July, give statistical backing to the notion that Obama is more preoccupied with being re-elected than any other commander-in-chief of modern times.

The Guardian:

Nanotechnology is the study of manipulating matter on an atomic and molecular scale. As technologies and techniques evolve, many new materials and devices with a vast range of applications may be developed, such as in medicine, electronics, biomaterials and energy production. This website is dedicated to giving you information and news as it develops

Alexandra Marks:

Neither do many others. Natural gas has suddenly become almost everyone’s favorite chassis for building an energy independent future. Many people on both sides of the drilling divide view the current abundance of the low-cost fuel as a “global game changer” – an energy source that will help wean the United States off Mideast oil, alter the nation’s foreign policy, spur jobs and boost the economy, and reduce greenhouse gases.

President Obama has pledged to “take every possible action to safely develop this energy.” Mitt Romney calls the domestic gas “a godsend.” Energy tycoon T. Boone Pickens, an early natural gas booster, contends it’s “obvious” that Washington should enact policies to encourage natural gas production and use throughout the economy.

“Do we have to take advantage of this?” asks Mr. Pickens, with his characteristic Texas Panhandle pragmatism. “Well, if you don’t, you’re going to go down in history as the biggest fools that ever came to town.”

Sonia Saraiya:

What is the future of reading? How can we make it more social?

One of the things that bugs me about the Kindle Fire is that for all that I didn’t like the original Kindle, one of its greatest features was that you couldn’t get your email on it. There was an old saying in the 1980s and 1990s that all applications expand to the point at which they can read email. An old geek text editor, eMacs, had added a capability to read email inside your text editor. Another sign of the end times, as if more were needed. In a way, this is happening with hardware. Everything that goes into your pocket expands until it can read email.

But a book is a “momentary stay against confusion.” This is something quoted approvingly by Nick Carr, the great scholar of digital confusion. The reading experience is so much more valuable now than it was ten years ago because it’s rarer. I remember, as a child, being bored. I grew up in a particularly boring place and so I was bored pretty frequently. But when the Internet came along it was like, “That’s it for being bored! Thank God! You’re awake at four in the morning? So are thousands of other people!”

More from Tom Tunguz.