An excellent economic article written by a psychologist in this morning’s New York Times  in which Professor Schwartz argues a perfectly efficient world is one that is friction free. Becoming more efficient is a primary goal of business. On the other hand, it is those little frictions that cause us to pause, to think, and perhaps to behave more appropriately.He argues, correctly in my view, that mortgage applications would be a lot more efficient if one could simply fill in one’s name online without having to complete a whole lot of forms in front of a banker. On the other hand, was it not the ability to just this that created the subprime mortgage fiasco? Good point.