The 2,500 year experiment with solid currency
This article in The New York Times focuses on cash in terms of paper currency, but the lessons are generalizable to coinage as well, which pre-dates paper currency by 1,500 years. Some fascinating numbers:
…In 1970, at the dawn of plastic payment…
Against the “Thinking Machines”
Steve Hsu points me to this essay which discusses ‘high-frequency trading’, How to Make Money in Microseconds. This might elicit a takfir from my friends at the Singularity Institute, but that piece makes me less ill-disposed to a Butlerian…
Against the “Thinking Machines”
Steve Hsu points me to this essay which discusses ‘high-frequency trading’, How to Make Money in Microseconds. This might elicit a takfir from my friends at the Singularity Institute, but that piece makes me less ill-disposed to a Butlerian…
The slow decline of trust over time
Yesterday I made an admission of my lack of trust after the 2008 financial crisis. I should have been more precise and clarified that my collapse in trust has been particularly aimed at elites and “experts.” In any case, I realized that the…
This time it’s different
I’ve been hearing about structural adjustment due to technology and gains to productivity from people since the early 1990s. The sort of dynamic which motivated the original Luddites. But this chart from Calculated Risk makes me lean toward the proposition that the time is nigh. In relation to previous post-World War II recessions the big […]