Stian Westlake·19 hours agoThe Tyranny of Malcolmsmalcolm (n.) A folksy anecdote used to begin a chapter in a popular nonfiction book, in an attempt to draw in uninterested readers. (Named for Malcolm Gladwell (b. 1963), who popularised the technique and spawned many less sure-handed emulators) I recently read Paul Johnson’s excellent Follow the Money, a book…Economics6 min readEconomics6 min read
Arthur Hayes·10 hours agoPatience is Beautiful(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.) The weekend before I travelled to Miami for this year’s edition of the annual…Economics23 min readEconomics23 min read
Khurshid Alam·5 hours agoDeciphering the Algorithmic Economy: The Interplay of Cost, Accuracy, and Efficiency Trends in Machine Learning“Economic growth may be constrained not by what we do well but rather by what is essential and yet hard to improve.” — Baumol’s cost disease (1967) Machine Learning (ML) is primarily driven by three fundamental elements: algorithms, data, and compute. However, not all these factors progress at the same…Economics6 min readEconomics6 min read
Michelle Teheux·13 hours agoMember-onlyPoverty Isn’t What It Used To BeThat’s why we can’t measure it — What does it mean to be poor, anyway? Economists and governments measure poverty in many different ways, but the best measure is how you feel. People know when they are poor, and they know when they are not. I know what it is like to be poor, working class and…Economics6 min readEconomics6 min read
The Professor of MediuminBouncin’ and Behavin’ Blogs·6 hours agoMember-onlyI Had My Highest Earning Month on MediumIt’s Been For a Number of Reasons, Which I’ll Tell You — It’s the first of and the month, the time when we read a bunch of articles about numerous Medium writers’ earnings for the month. We all love to root for each other and compliment our favorite writers about their hard work and stellar stories. That’s why we love to read…Economics6 min readEconomics6 min read
umair haqueinEudaimonia and Co·2 days agoMember-onlyWhy Are People So Pessimistic About the Economy? Because…It SucksHow Many People Think Things Are Doing Well? Go Ahead and Guess — There are numbers, and then there are numbers. I came across one lately that should have made more waves. What percentage of people would you say think the economy’s in excellent shape? Go ahead, guess. Now guess again. Just 1%. That’s not a typo, that’s a real finding. Go ahead…Economics9 min readEconomics9 min read
[KFS] Augustus | GV Ayudánte·3 hours agoThe Beginning of a New (Web3) DawnThings are changing. They’re changing fast. And things are getting messy. Here’s an update on the story so far. You’ve probably noticed it by now. A change in the air. A widespread feeling of opportunity overshadowed with a sense of unease. A rise in chaos sprinkled with hints of novel…Economics6 min readEconomics6 min read
Egberto Willies·1 day agoMember-onlyAli Velshi dismantles former Republican Governor. Why do corporations and not people get the breaks?Ali Velshi did not allow former Republican Governor of Ohio, John Kasich, to use his program to lie, misinform, and bloviate about the economy, inflation, taxes, & more. Ali Velshi dings Former Ohio Governor John Kasich.Economics2 min readEconomics2 min read
Benjamin CaininAn Injustice!·1 day agoMember-onlyHas the “Bullshit Jobs” Theory Been Debunked?David Graeber’s tactical error, and his theory’s underlying strength — In his book Bullshit Jobs, the anthropologist David Graeber argued that there’s been an explosion of “pointless, unnecessary, or pernicious” jobs since the 1980s, owing to the rise of managerial feudalism and to the financialization of capitalism. Graber’s analysis posits several types of BS jobs: Flunky positions are created because…Economics10 min readEconomics10 min read
Ben Le FortinMaking of a Millionaire·19 hours agoMember-onlyDefeating Hindsight Bias: Keys to Smarter InvestingHow hindsight bias tricks you into thinking, “you knew it all along” — “Hindsight bias makes surprises vanish. “ -Daniel Kahneman They say hindsight is 20–20. Hindsight feels like it’s 20–20, but in reality, it’s closer to a funhouse mirror, providing a distorted version of reality. In this entry in the Money on my Mind series, I discuss how “hindsight bias” impacts financial…Economics4 min readEconomics4 min read
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