THE GREAT DEGENERATION – How Institutions Decay and Economies Die

"The key point is that not all sets of institutions, when you add up the sum of the parts, are equal. There are good and bad combinations. In some sets of institutions, people can flourish freely as individuals, as families, as communities. That is because the institutions effectively incentivize us to do good things-like, for … Continue reading THE GREAT DEGENERATION – How Institutions Decay and Economies Die

Weaving Webs | What Is The Future of Work in an Age of Automation, Artificial Intelligence and Robotics?

  A few separate conversations with people, who had concerns on our future, especially related with Artificial Intelligence and automation, motivated me to write this article. While some had philosophical questions such as 'Will AI dominate humanity? Then will we have a dismal future?,' others had rather practical concerns such as 'What should we do … Continue reading Weaving Webs | What Is The Future of Work in an Age of Automation, Artificial Intelligence and Robotics?

THE END OF ALCHEMY [3/3] – Money, Banking and the Future of the Global Economy

CONTEMPLATION: A TIMELY BOOK FULL OF IDEAS MEANINGFUL FOR DISCOURSE AND ACTION A phoenix out of the ashes. Without the audacity of pessimism, we may repeat the same old pains. There's a serious urge on timing. No more delay. No more bail-outs. No more taxpayers' money. No more policy failure by central banks based on … Continue reading THE END OF ALCHEMY [3/3] – Money, Banking and the Future of the Global Economy

THE END OF ALCHEMY [2/3] – Money, Banking and the Future of the Global Economy

REFORMING BANKING: ENDING ALCHEMY THROUGH PFAS Central Banks as Lender of the Last Resort (LOLR) What has been the guiding principle of central banks in dealing with crises? The author explains central banks' roles defined throughout history, the birth of the concept of LOLR(Lender of the Last Resort) that became the ultimate name of central … Continue reading THE END OF ALCHEMY [2/3] – Money, Banking and the Future of the Global Economy

THE END OF ALCHEMY [1/3] – Money, Banking and the Future of the Global Economy

"Flooding the system with liquidity has been seen by many economists, officials and politicians as the answer to almost any financial crisis. But it is never easy to distinguish between a liquidity and a solvency problem. In only a matter of days, a shortage of liquidity can turn into a solvency question. Banks will always … Continue reading THE END OF ALCHEMY [1/3] – Money, Banking and the Future of the Global Economy

MORE THAN YOU KNOW – Finding Financial Wisdom In Unconventional Places

"When a system has low complexity and we can define interactions linearly, reductionism is very useful. Many engineered systems fit this bill. A skilled artisan can take apart your wristwatch, study the components, and have a complete understanding of how the system works. Such systems also lend themselves to centralized decision making. Many companies in … Continue reading MORE THAN YOU KNOW – Finding Financial Wisdom In Unconventional Places

HOW ADAM SMITH CAN CHANGE YOUR LIFE – An Unexpected Guide To Human Nature and Happiness

"There will always be someone richer than you, more skilled than you, more famous than you. Who is rich? asks the Talmud. He who is happy with his lot. Maybe it's easier to be happy with what you have if you know that inside you is the urge for attention that Smith identifies. Smith is … Continue reading HOW ADAM SMITH CAN CHANGE YOUR LIFE – An Unexpected Guide To Human Nature and Happiness

THE ZERO MARGINAL COST SOCIETY – The Internet of Things, The Collaborative Commons and The Eclipse of Capitalism

  "A powerful new technology platform is developing out of the bowels of the Second Industrial Revolution, speeding the central contradiction of capitalist ideology to the end game. The coming together of the Communications Internet with a digitalized renewable Energy Internet and automated Transportation and Logistics Internet in a seamless twenty-first-century intelligent infrastructure-the Internet of … Continue reading THE ZERO MARGINAL COST SOCIETY – The Internet of Things, The Collaborative Commons and The Eclipse of Capitalism

WHY NATIONS FAIL – So Do You Know Why Some Nations Prosper and Some Fail?

"We live in an unequal world. The differences among nations are similar to those between the two parts of Nogales, just on a larger scale. In rich countries, individuals are healthier, live longer, and are much better educated. They also have access to a range of amenities and options in life., from vacations to career … Continue reading WHY NATIONS FAIL – So Do You Know Why Some Nations Prosper and Some Fail?