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GDP and Other Complex Numbers

When investment advisors want to justify their expensive and ineffective advice they look for red herrings to batter their clients with. One such example surfaced in, of all places, Pieria last week. It was an article sourced from Schroders about how misleading GDP is  as a measure of economic wellbeing. The article is one of […]

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Lamppost Afterthoughts

Notes from the cutting room floor: Lest anyone be mistaken I am aware that we live in a world of models. Everything we do can be described at some level of abstraction as a model. Our entire ability to live is based upon modeling. Our various systems and bodily functions are models. That is these […]

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Lamppost Economics?

Paul Krugman came remarkably close to giving economics a big negative review in his New York Times blog last week. To sum up his argument: economics is very good at talking about, although not resolving, issues that are tractable to formal modeling — anything else not so much. You see there’s this gigantic blind spot in modern […]

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