Good Advice: Wisdom, Timing and Mimesis
Question: What makes good advice?Answer: It comes from Gandalf.“Read more Tolkien” is a piece of ad(d)vice, but it is good? […]
Benefits and risks of a great trade surplus
From time to time, some politicians (who care about their votes) bring up trade imbalances as a problem. You might
Quantitative easing
What is Quantitative Easing? Quantitative easing (QE) is a monetary policy tool employed by central banks to stimulate economic activity,
Inflation expectations trap
When you expect rising inflation, so you spend now instead of tomorrow, and other people know that you spent today
Debt deflation
Imagine all prices were to fall. Your income now buys an extra week worth of widgets, and everyone is better
Structural reforms
Households and firms do not operate in a vacuum. Everyone has to play within a structure of rules, conventions, and
Choosing a good level of abstraction
Is opening the black box a valuable use of my time? Or is it nuance in the pejorative use of
Why inflation feels higher than the official number
It’s the economy, stupid! Inflation feels higher than the official number because humans are imperfect status seeking social animals, and
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How to make a habit stick
Starting small, add a tiny step after the other, and staying motivated with a clear goal and a supporting environment
Economize your attention
Goal directed behavior differentiates us humans from lower forms of sentient species. Not only do we rely on instincts and