Monthly Archives: November 2010

Ridiculous Speculation

Here’s a theory of Human Progress: the more humans integrated economically and socially, the more progress there is. The idea is that specialization of labour is the only reliable theory of progress. At any particular margin, innovation requires further specialization … Continue reading

Posted in economics

Hammering a Nail Outside the Box

Here‘s a very interesting article on the cognitive cost of expertise. The author takes us through some studies, particularly of London Taxi drivers, that when you learn a particular skill, you have a very hard time changing that skill. London … Continue reading

Posted in science

Hex Ante, Post Haste

I remember soon after Lehman failed, I was at lunch with a manager at a fund of funds. She said that the bailouts forestalled Armageddon. Really, I asked? Like, REALLY? I backed down eventually because she clearly knew more about … Continue reading

Posted in Uncategorized

Banker Bonuses – Shoot the Canary, Kill the Symptom, Treat the Messenger…

This article is pretty common. And stupid: Investment banks, it seemed, were not being run in the interests of the economy or even of their owners, but for their staff. It was financial mutiny. Bankers are salesmen. Just like Vacuum … Continue reading

Posted in economics