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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label historical determinism. Show all posts

Showing posts with label historical determinism. Show all posts

Thursday, September 05, 2013

Economic Forecasting: The Mainstream’s Horrible Track Record

Aside from the agency problem , here is another reason why economic and market predictions or forecasts by mainstream "experts" s...

Thursday, April 04, 2013

Bill Gross: Past Performance in the Age of the New Normal

In the age where central banks have been propping up asset prices via the “wealth effect” as a way to lubricate “aggregate demand”, generat...

Monday, March 11, 2013

Phisix’s Mania: We’re Still Dancing

Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or pan...

Sunday, November 04, 2012

The Likely Impact of US Presidential Elections on the Stock Markets

Thus elections, quite apart from who won them, performed a powerful cultural function for the elites. To the degree that -everyone had a ri...

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