Not long ago, I read "The Fundamentals Are Sound" by Rusty Guinn at Epsilon Theory. What particularly intrigued me was his recounting of Dick Thaler's take on the Keynesian Beauty Contest (which is actually borrowed from a study by Rosemarie Nagel, which in turn was based on the "Guess 2/3 of the Average" game created by Alain Ledoux). The Keynesian Beauty … [Read more...] about The Limits of Reason, Type One
Anything I view as important or interesting about the broader world goes here. From serious issues of geopolitics, culture, and philosophy, to lighter subjects like movie reviews.
I approach all of the serious affairs from a perspective of pure curiosity and a desire to solve puzzles. It is an un-moralized analytical perspective (imagine if aliens were studying our species--how would they dispassionately approach subjects?).
Since little or no care is taken to shield ideologies or other belief systems from criticism, some of the concepts covered, questions asked, or conclusions reached could be construed as offensive (even to myself). Know that this is not the goal of any article--merely a by-product.
In late 2007, the Great Recession began. It officially ended in 2009. Practically speaking, however, the United States continues to linger in economic purgatory. While the economy has not slipped back into recession, it has also proved incapable of grasping the brass ring of 3% year-on-year real GDP growth. Capitalist economies are cyclical. Having survived nearly a decade … [Read more...] about The Lagging Recession: Is a Downturn Imminent?