The Merging of Economics with Physics

Why Are Physicists Drawn to Economics? If you are one of these people, let me try to disabuse you of these notions. Your mathematical abilities are actually not that much better than most economists (if they are better at all). You will have to spend…

The Misplaced Logic of Attacking the Rich

A couple weeks ago a post about Jeff Bezo being the second-richest person in the world went viral. Many were aghast that a singe person could have so much money…how unfair when that money could be put to better use, so the logic goes. Why…

Why Gold Fails as a Hedge Against Inflation (and when it works)

In the aftermath of Trump’s win, something that wasn’t supposed to happen, happened. Inflation expectations surged, but gold got clobbered: The GLD fund, a proxy for gold, fell 8% (from $125 to $115) in the days immediately following Trump’s victory, and then it fell another…

Bifurcated Inflation

The news cycle as of late has been like watching paint dry…months ago I predicted such slowness, but even I am kinda surprised by the uneventfulness of the Trump administration so far. The administration started off with a ‘bang’ with that travel ban many weeks…

Why Robots Won’t Take All The Jobs

Over the past month or so, there has been considerable debate online about whether automation will destroy all jobs, and if so, how should policy makers try to respond. A few weeks ago, Bill Gates made headlines by proposing a ‘robot tax’, an idea which…

Tyler Cowen’s The Complacent Class: Reviews and Discussion

I have compiled a list of reviews for Tyler Cowen’s new book, The Complacent Class, along with some insight. From Arnold Kling: My Review of Tyler Cowen’s Complacent Class 3. I am still not happy with Tyler’s use of the term “complacency.” I can think…

Disturbing New Facts About American Capitalism

From WSJ: Disturbing New Facts About American Capitalism–When winners are taking all, it’s often time to buy the winners “Let your winners run” is one of the oldest adages in investing. One of the newest ideas is that the winners may be running away with…

Why Socialism for the Rich, Capitalism for the Poor?

This article is going viral: Why Socialism for the Rich, Capitalism for the Poor? A small annoyance is how the word ‘socialism’ has come to mean so many things, usually depending on the underlying political or economic motives of whoever is using it, that it’s…

Why Bitcoin Keeps Going Up: Analysis

The huge 2016-2017 Bitcoin rally is on a lot of people’s minds: Why does it keep going up? Didn’t all the ‘experts’ in 2011-2014 say it was a bubble? Why does it refuse to burst? Is it a bubble? Maybe not. Correct Predictions, Part 2:…