The shale boom is just getting started

Tyler Cowen: Not much at all.

James Stafford: Is this a trend we can't stop?

Tyler Cowen: We can't stop it easily. Consumers are not really the losers here, rather some traders benefit at the expense of others. There is more churn than we would like to have in prices and short-term inventories. That's a problem, but pretty far down on my list of worries.

James Stafford: On a social level, with the fashion for choosing to become a banker rather than, for instance, an engineer, are things like market manipulation becoming ... acceptable-a sexier sort of crime?

Tyler Cowen: Finance is still where the big money is, though for fewer people than before. This is perhaps slightly encouraging, as I would rather see more top minds go into science, engineering, and other fields. But in finance a smart young person can make a mark quickly, more so than in most sciences or businesses (tech aside) so finance will remain a big draw for young talent.

James Stafford: As the "debate" over climate change has taken on polarizing political proportions, it's better to ask an economist. How can climate change affect the economy?

Tyler Cowen: We're going to find out, I have to say.