“The art of economics consists in looking not merely at the immediate but at the longer effects of policy; it consists in tracing the consequences of that policy not merely for one group but for all groups” The premise of Henry Hazlitt's Economics in One Lesson is simple: Policy should be honest about the losers, … Continue reading Economics in One Lesson
Virtuocracy : A society which is ruled by the most virtuous. Aristocracy, where one's station in life is tied to the accident of birth, is plainly unfair. Theocracy, where one's station in life is tied to one's proximity to the nexus of clerical power is likewise unjust. Meritocracy, where one's station in life is tied … Continue reading The Rise of Virtuocracy
Narrative Economics by Robert J Shiller has been on my to-read list for a while (I was waiting for the paperback edition to launch in South Africa. The book looks at the thesis that narrative a way of presenting or understanding a situation or series of events that reflects and promotes a particular point of … Continue reading Narrative Economics
Geopolitics used to be a board game. Leaders defended and extended their physical territory in the terrestrial plane. Borders were defined by geography. Trade partners and military partnerships tended to fall in the same lines. We knew who our enemies and allies were, and where to find them. But things are no longer so simple. … Continue reading 5G Geopolitics (we’re way past Go!)
It has been rather depressing to watch people get exactly what they want. In South Africa in March, people begged to "be lead" through the COVID crisis - and they were. Crop-bottom pant regulations, arbitrary prohibition and all. They are now number three on the global misery index. In the UK, people demanded schools were shut down - … Continue reading Be careful what you beg for
Good money chases bad out of circulation. That's Gresham's Law. But what happens when the good money and the bad money are controlled by different groups? One private and backed by sweat; the other public and backed by blood (or the threat thereof). This is not a stable equilibrium. Taxation (or wealth redistribution) is the … Continue reading BTC in the sheets, MMT in the streets?
"The winner takes it all" ~ ABBA The quote above really sums up the near-term effects of the combined COVID-19 and social crises on the 2020s ahead. I was recently asked to submit a chapter to Aftershocks and Opportunities, and I wrote on exactly that; how crises highlight and amplify the deep-seated cracks and devastating … Continue reading The Winner Takes it All
Robert Nozick's 1974's Anarchy, State and Utopia deserves a re-read right now. As the long-suppressed cracks begin to open in the WEIRD (Western, Educated, Industrialised, Rich and Developed) world, we are forced to face the scaling problems of party-politics democracy; and to begin to seriously consider the alternatives on offer. Common logic (of the upper … Continue reading Anarchy, State and Utopia
If you are a futurist, you should be watching the sex industry. The world's oldest industry is full of shiny new ideas and quick to adopt new trends and technologies. It's also very flexible. (Puns all fully intended). I wrote in more detail about this subject here. Enjoy.
"And so if we look at Europe and we say, well, how will Europe be different from the way it is today in the future? I think there's sort of three pictures of a very different future, and sort of behind door number one is Islamic Sharia law, and if you're a woman, you'll be … Continue reading Three doors; one room