Entropy…

We are drowning in information, while starving for wisdom..

Archive for the 'Economic Behaviour' Category

Economic Behaviour | 21 May 2013

Culture of Words

In this essay David Brooks presents a case that, our problems aren’t economic, they are cultural, and therefore there’s no point in tackling them by economic means. Earth to Brooks: the economy strongly determines the culture. That is why we now talk of a culture of greed, the degree of which represents a tectonic shift […]

Economic Behaviour | 19 Feb 2013

Wise In Hindsight, Not Many More Than Wise In Foresight

We must be careful not to confuse data with the abstractions we use to analyze them.-  Pl read this insightful feature by David Brooks.. What Data Can’t Do Not long ago, I was at a dinner with the chief executive of a large bank. He had just had to decide whether to pull out of […]

Economic Behaviour &Globalisation | 16 May 2012

Price-Tag Society

We live in a time when almost everything can be bought and sold. Over the past three decades, markets—and market values—have come to govern our lives as never before. We did not arrive at this condition through any deliberate choice. It is almost as if it came upon us. In What Money Can’t Buy, Michael […]

Economic Behaviour &Globalisation | 24 Apr 2012

An Investor’s Lonely Planet

The  Playwright Arthur Miller once observed, “An era can be said to end when its basic illusions are exhausted.” Most of the illusions that defined the last decade — the notion that global growth had moved to a permanently higher plane, the hope that the Fed (or any central bank) could iron out the highs […]

Economic Behaviour | 13 Apr 2012

Probability is a Liberal Art

It has been more profitable for us to bind together in the wrong direction than to be alone in the right one. Read this insightful thoughts by Nassim Nicholas Taleb in recent NYT     Throw Out the Probability Models After the events that started in 2007 and the subsequent reactions by economists, anyone who […]

Economic Behaviour | 01 Feb 2012

Exploring Our Inner Wilderness

People assign much higher probability to the truth of their opinions than is warranted.. We are not blank slates. All humans seem to share similar sets of biases. There is such a thing as universal human nature. The trick is to understand the universals and how tightly or loosely they tie us down. We are […]

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