Monthly Archives: September 2010

Fairness Versus Economics

Time out.  Time to have an elementary school education for those that lead us, who have pretensions to understanding economics, at least in terms of how people really work, not the idealized Homo Oeconomicus of the introductory economics textbooks. Time for them to get a dose of behavioral economics form books like Priceless and “Secrets […]

The Rules, Part XVIII

When rules become known and acted upon, the system changes to incorporate them, making them temporarily useless, until they are forgotten again. When a single strategy becomes dominant, it can become temporarily self-reinforcing.  Eventually, it will become self-reinforcing on the negative side. A healthy market ecology has multiple strategies that are working in separate areas […]

Twenty Questions for the Author of Risk and the Smart Investor

This is the first time I have done something like this, but I am interviewing an author of a book on Risk Management, which delves into the nature of the current crisis.  My interview occurs before the book is published, and lends to its publicity, which I don’t mind because I think it is an […]