The conquest of the air may well be more important than the conquest of India was—we must not confuse geographical frontiers with economic ones. Thus agricultural countries or regions may… Read more »
Analysis, whether economic or other, never yields more than a statement about the tendencies present in an observable pattern. And these never tell us what will happen to the pattern… Read more »
Yes, I do believe that most of the current talk about monopoly, like all the current talk about the dire effects of saving, is nothing but radical ideology and has… Read more »
in the long run they could never create enough to save the average person from an extremely hard life. Creating value is not enough—you also need to capture some of… Read more »
And in 2001 there was a similar inconsistency in statements made by officials at the Bank of Japan, who warned that quantitative easing would be ineffectual, but also that such… Read more »
I make two provocative claims in these three chapters. First, that in the absence of other policy initiatives, the devaluation of the dollar might have essentially ended the Depression by… Read more »
I was greatly influenced by monetarist ideas, particularly A Monetary History of the United States, Ultimately, I decided that the gold reserve ratio was the most sensible way of thinking… Read more »
Antifragile: Things That Gain from Disorder (Incerto) Nassim Nicholas Taleb I’d rather be dumb and antifragile than extremely smart and fragile, any time. Which brings us to the… Read more »
Back at it again with the fresh links: John Hempton (whose status has absolutely blown up over the past several months/years, maybe thanks to HLF?) on investment philosophy: A really… Read more »
I’m not sure through which rabbit-hole I stumbled upon the first link, an anecdote about someone whose code only crashed on Wednesdays, but I really liked it. …if you dig… Read more »