I'm back from vacation and am working on one post that comments on the many interesting posts in the econoblogosphere I missed while I was gone and one post about understanding the deviation in the labor market model (see also here). Prediction updates are also forthcoming.
But I read this from Robin Hanson today, and so I thought I'd do a post bump for/link to a critical take on the information transfer model by an economics graduate student:
alongside my response:
Update 01/08/2015: I thought I should include Robin Hanson's skepticism as well: