The Catch-22 Of Economics
The reality, I think, is that the economy follows its own Catch-22: by taking prosperity for granted, people perversely subvert prosperity. The more we—business managers, investors, consumers—think that economic growth is guaranteed and that risk and uncertainty are receding, the more we act in ways that raise risk, magnify un-certainty and threaten economic growth. Prosperity destabilizes itself.
The whole article is a worthy read and covers many of the topics I've discussed here.
This is the End and a New Beginning
-
I've been thinking about this for some time.
After 21 years of writing this blog almost daily, I've decided to stop
writing the daily updates on the blog.
...
6 days ago
No comments:
Post a Comment