Categories: economics

Greed

What do people mean by greed? Is greed the impulse to accumulate as much wealth as one can, with no internal governor?More >>

In Defense of Free Markets

Winston Churchill, a favorite of mine, said, “… democracy is the worst form of government except all the others that have been tried.” I contend the same about free-market capitalism. More >>

Stupidest Idea So Far This Year

There has been talk, and some in the media have taken it seriously, that certain people would be better off not getting a college degree.More >>

What I Know Now

I was caught completely off guard by the financial crisis. I don’t care if Nobel Laureates, Chairmen of the Federal Reserve and Harvard economists were also fooled; it still made me feel like a putz. Though I do have several excuses, none very good. More >>

The shape of things to come.

I’ve come to the conclusion that the only force in the universe you can absolutely depend upon is in direct conflict with basic human nature. The force is cyclicality and the human behavior is best summed up by my friend Bob Willemin’s line: “People have a tendency to take current circumstances and extrapolate them indefinitely into the future.” More >>

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