Posts filed under “Philosophy”

Comparative Advantage: The Tragedy of Tasmania

From Don Boudreaux’s Everyday Economics:


Hat tip Marginal Revolution

What can a small, isolated island economy teach the rest of the world about the nature and causes of the wealth of nations? When Tasmania was cut off from mainland Australia, it experienced the miracle of growth in reverse, as the reduction in trade and human cooperation forced its inhabitants back to the most basic ways of living. In an economy with a greater number of participants trading goods and services, however, there are more ways to find a comparative advantage and earn more by creating the most value for others. Let’s join Bob and Ann as they teach us the “Story of Comparative Advantage” like you’ve never seen it before.

Category: Economy, Philosophy

Single Variable Market Analysis is for Losers

If you work in finance, you will invariably come across an example of single-variable analysis. Almost daily, we see terrible examples of this sort of analytic error, rife with logical weakness, yet offered with the highest degree of certainty. The way this works is as follows: Some ominous data point will be shown, along with…Read More

Category: Analysts, Data Analysis, Investing, Philosophy, Psychology, Quantitative, Really, really bad calls

What Are The Cult Firms of Today?

@ritholtz I’ve read about other orgs before, and they don’t usually talk about a “search for the truth” and “getting to the other side” — Joseph Weisenthal (@TheStalwart) June 8, 2014     The other day, I got into a Twitter discussion with Joe Weisenthal and others on the hedge fund Bridgewater. A WSJ article had described…Read More

Category: Corporate Management, Philosophy, Psychology

The Values of Science

Robert Krulwich’s commencement speech at California Institute of Technology gets at the heart of what Radiolab does.

From RadioLab

Category: Philosophy, Science, Video, Weekend

Infoposter: History of Economic Thought

Full size infographic after the jump
econ history

 
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Category: Digital Media, Economy, Media, Philosophy

My Unusual Career Path in Finance

I have been working in finance for two decades. Along with achieving whatever success and (internet) fame comes regular inquiries from the young’uns seeking advice on how to break into the field. On occasion, I have shared whatever small insights I might have with them. Along those lines, Tom Brakke of the blog The Research…Read More

Category: Apprenticed Investor, Markets, Philosophy

Keynes for Kids

click for interactive graphic Source: Keynes for Kids

Category: Economy, Philosophy

Piketty vs John Stuart Mill’s Marketplace of Ideas

Source: Amazon Any reader of this site has likely heard about the book currently setting the world of economics aflame. “Capital in the Twenty-First Century” was written by a French economist named Thomas Piketty. It is on the New York Times best-seller list and is currently sold out, with its publisher scrambling to print more…Read More

Category: Books, Philosophy, Really, really bad calls, UnGuru

The Ideological Middle Is Dead in Congress

Source: The Fix

Category: Digital Media, Philosophy, Politics

The Counter-Factual & the Fed’s QE

    “The weak recovery is proof that the Federal Reserve’s program of quantitative easement does not work.”   You do not understand the Counter-Factual. That is the only conclusion I can draw from what the very common criticism of the Federal Reserve policies of ZIRP and QE (above), and its inherent analytical error. The…Read More

Category: Federal Reserve, Philosophy