Only when savers can put their money in reliable banks that it can be channelled from the idle to the industrious.
On Facebook ‘the user is the product
Networks tend to be more creative than hierarchies
Money: a unit of account, a store of value - portable power.
Meme
If Moore’s Law continues to hold, computers should be able to simulate the human brain by around 2030
Hierarchies are just special kinds of network in which flows of information or resources are restricted to certain edges in order to maximize the centrality of the ruling node.
Confabulations
Biggest changes in history are the achievements of thinly documented, informally organized groups
Arguing that Google and Facebook should do the censoring is not just an abdication of responsibility; it is evidence of unusual naivety. As if these two companies were not already mighty enough, Europ...
A South American mercenary who served as Inspector General of the Turkish forces in Armenia, reported that the Governor-General of the province had ordered the local authorities in Adil Javus ‘to exte...
You will look in vain for a European search engine, a European online retailer, a European social network. The biggest EU-based Internet company is Spotify, the Stockholm-based music and video streami...
When bond prices fall, interest rates soar, with painful consequences for all borrowers.
Trump won ‘Trumpland
Trump campaign’s involvement with the alt-right brought anti-Semitism back
Traders had begun to speak of the ‘Greenspan put’ because having him at the Fed was like having a ‘put’ option on the stock market (an option but not an obligation to sell stocks at a good price in th...
Though we hear much less about it, India had made a bigger contribution to the imperial war than Australia in terms of both finance and manpower.
They dug up so much silver to pay for their wars of conquest that the metal itself dramatically declined in value - that is to say, in its purchasing power with respect to other goods.
There is always home, sweet home. As an insurance policy or a pension plan, however, this strategy has one very obvious flaw. It represents a one-way, totally unhedged bet on one market: the property...
There is a powerful case to be made that the innovations of the earlier industrial revolutions were of more benefit to mankind than those of the most recent one.11 And if the principal consequence of...