Word: eyjafjallajã
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Economists would tell you that everything happening is perfectly rational: The efficient market hypothesis of ash cloud flying calls for airline financial ruin, outrageous train prices, and a market for jets at the Dorchester. The market would have predicted it all, if only our models had incorporated Eyjafjallaj??¶kull data...
Last Wednesday, the volcano—locally known as Eyjafjallaj??¶kull—began spouting plumes of fragmented glass and ash into the air, which can knock out the engines of airliners. By the following day, countries across Europe had introduced restrictions grounding nearly all flights through Monday...
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