Credit is now funneled increasingly into market speculation as opposed to productive innovation. Asset price appreciation as opposed to simple yield or “carry” is now critical to maintain the system’s momentum and longevity. Investment banking, which only a decade ago promoted small business development and transition to public markets, now is dominated by leveraged speculation and the Ponzi finance Minsky once warned against.
Author: Edouard Chazal
Online Dating Isn’t Killing Marriage!
All the barriers have slowly broken down in the past hundred years, to the point where the entire world, theoretically, is now your dating pool. So you needed to be choosy and your ability to go out and find your mate became something of a reflection back on you, of your ability to be a successful person in the world.
We’ve Nationalized the Home Mortgage Market. Now What?
They would lobby to reduce the amount of capital they have to reserve for an emergency, and to lower the fees charged for mortgage insurance so they could compete on price. If another crisis hits, lower capital reserves and lower fees would make them far more vulnerable to going bankrupt, leaving the taxpayer to bail them out.
Evolution of a Founder: Lessons I have learned
Those nights of self-reflection during the early startup phase exposed me to a lot of my own demons and made me realize how little I knew. The biggest outcome of that conversation was the realization that companies and startups are essentially a reflection of a founder. If a founder doesn’t realize that, then it is going to be extremely difficult to build a long-term business.
The Tyranny of Political Economy
By endogenizing politicians’ behavior, political economy disempowers policy analysts. It is as if physicists came up with theories that explained not only natural phenomena, but also determined which bridges and buildings engineers would build. There would then scarcely be any need for engineering schools.
Abnormal Capitalist 