Summary: Andrew Odlyzko, one of our top polymaths and futurists, gives us a new perspective on the economy and markets of our time by comparing them with those of Victorian England. We can learn a lot from this. "What would surprise early Victorian market players if they came alive today?" By Andrew Odlyzko in the … Continue reading Advice for us from the financiers who built the British Empire
Summary: Central banks have never been more powerful, more significant to the economy, more controversial (although they've often been unpopular), or more misunderstood. Today we debunk two of the myths about their evil they do; at the end are links to posts about their limitations. . Contents About conservatives' faux history and economics About investment … Continue reading Are conservatives right about the Fed? Is it a malign force in America?
Summary: Today we have an essay by Andrew Odlyzko, one of the top polymaths and futurists writing today. He reminds us of the difficulty in accurately predicting the future, and the peril of relying on past successes to solve our problems. The industrial revolution relieved the UK's crushing debt in the 19th century. As the post-WW2 … Continue reading Will 21st Century USA have a surprise boom, as did the 19th Century UK?
Summary: Periods of economic stress tend to bring forth quack simplistic economic theories, like during the 1930s. We will see more of these if this slow period continues, more so if we have another recession before a recovery. Not just gold, but other fringe ideas such as Ayn Rand and her mutant version of Marx's … Continue reading Why do so many Americans want a gold-based currency?