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"Now, as the United States and other Western nations struggle to recover from a debt and property bubble of their own, a growing number of economists are pointing to Japan as a dark vision of the future. Even as the Federal Reserve chairman, Ben S. Bernanke, prepares a fresh round of unconventional measures to stimulate the economy, there are growing fears that the United States and many European economies could face a prolonged period of slow growth or even, in the worst case, deflation, something not seen on a sustained basis outside Japan since the Great Depression. "

The TOK question here is can you compare Japan of the 1990s with the US and Western Europe of today? To what degree can economists, or any human scientists, suggest that one complex situation is "like" another one?

"When you take a sip of Cabernet, what are you tasting? The grape? The tannins? The oak barrel? Or the price? Believe it or not, the most dominant flavor may be the dollars. Thanks to the work of some intrepid and wine-obsessed economists (yes, there is an American Association of Wine Economists), we are starting to gain a new understanding of the relationship between wine, critics and consumers."

Thanks to Felix (TAS2010) for passing this one on!

"There's a tiny island called Yap out in the Pacific Ocean. Economists love it because it helps answer this really basic question: What is money? There's no gold or silver on Yap. But hundreds of years ago, explorers from Yap found limestone deposits on an island hundreds of miles away. And they carved this limestone into huge stone discs, which they brought back across the sea on their small bamboo boats. It's unclear if these stones started as money. But at some point the people on Yap realized what most societies realize. They needed something that everyone agrees you can use to pay for stuff. And like many societies, the people of Yap took the thing they had that was pretty - their version of gold - and decided that was money."

An interesting exploration of the definition of the word "money".

"IT has been more than three years since the beginning of the Wall Street financial crisis, yet we continue to hear about new evidence of glaring errors and widespread misdoings. Even the smartest minds in finance are left scratching their heads: how did we not catch any of this sooner? When I hear this refrain, I am reminded of Boris Goldovsky. Goldovsky, who died in 2001, was a legend in opera circles, best remembered for his commentary during the Saturday matinee radio broadcasts of the Metropolitan Opera. But he was also a piano teacher. And it is as a teacher that he made a lasting - albeit unintentional - contribution to our understanding of why seemingly obvious errors go undetected for so long. One day, a student of his was practicing a piece by Brahms when Goldovsky heard something wrong. He stopped her and told her to fix her mistake. The student looked confused; she said she had played the notes as they were written. Goldovsky looked at the music and, to his surprise, the girl had indeed played the printed notes correctly - but there was an apparent misprint in the music. At first, the student and the teacher thought this misprint was confined to their edition of the sheet music alone. But further checking revealed that all other editions contained the same incorrect note. Why, wondered Goldovsky, had no one - the composer, the publisher, the proofreader, scores of accomplished pianists - noticed the error? How could so many experts have missed something that was so obvious to a novice? This paradox intrigued Goldovsky. So over the years he gave the piece to a number of musicians who were skilled sight readers of music - which is to say they had the ability to play from a printed score for the first time without practicing. He told them there was a misprint somewhere in the score, and asked them to find it. He allowed them to play the piece as many times as they liked and in any way that they liked. But not one musician ever found the err