Regulators are those who mostly didn’t rate acceptance at elite institutions, plus it cannot be stressed enough that for the most part those who presume to regulate are the ones who couldn’t get jobs in the industries regulated.
The alarming levels of obesity, sleeplessness and stress seen in the world—and in the Stanford University behavior-research lab—show a painful gap between the changes people want and what they actually do.
We forget that knowledge can be found at all ages, and in all places. And ethics has nothing to do with degrees or pedigrees.
A communications revolution that minted mere billionaires made it possible for computer owners to purchase goods and services on Amazon from around the world. This led to arguably the world first centibillionaire in Bezos.
When we’re sick, we go to a doctor. To keep our computers safe, we install anti-virus software. We rely on professionals to help out with lots of complex aspects of modern life: Why not have professionals help with data, too? Call them your privacy co-pilot.
We have an implicit [but wrong] assumption that intelligence and rationality go together—or else why would we be so surprised when smart people do foolish things?
Corporations become big because they serve the needs of consumers and customers well. It’s what they do after they become big that causes economic problems. It’s the attitude and behavior of big corporations that constitute the problem, not their size per se.
Arrow’s Impossibility Theorem can be summarized well-enough: he proved that a collection of people has no “will” in the way that we understand each individual person to have a will.
Singapore’s history shows that anticapitalist hostilities are by no means insurmountable. Singapore’s adherence to a liberal business model reflects the instinctive realization that a small island cannot afford the luxury of self-sufficiency.
Asset price inflation destroys the purchasing power of money in the same way that price inflation of consumer goods does. If stock prices rise from, say, $100 to $200, the purchasing power of the money unit would drop by 50 percent. The owner of the stock becomes richer, while the holder of dollars become poorer.
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