“A large part of the Chinese population has skipped credit cards entirely in favor of digital payments, just as people in many parts of China are skipping landline phones to buy a smartphone to access the Internet for the first time.”
There’s a lot of myths about money,and this is among the 10 of them which happened to be on my reading list tonight.
“The risk of embarrassment, ridicule, skepticism, perhaps even humilation is much less than the risk of not putting oneself out there to try.”
This great read is by John Lanchester, who is the author of the best-selling expose of the 2008 crisis, I.O.U.: Why everyone owes everyone and no can pay.
The widespread use of “securitization” in the financial sector was an important feature of the boom before the crisis. Securitization entails creating a financial instrument that you can trade quickly and that takes its value from other financial assets that… Read More ›
You can read the original articles from Wired from the link below. The Dirty Secret of the World’s Plan to Avert Climate Disaster In climate science, 2°C has actually become a magic number. It is the accepted threshold below which… Read More ›
My book review on Eve Poole’s Capitalism’s Toxic Assumption, redefining next generation economics. Classical assumptions on competition, pricing mechanism, and other elements of capitalism find little support among modern theories of market economics. For example, game theory emphasized the importance… Read More ›
Rather than trying to fix the limited liability model, pragmatism suggests a public-sector nudge that is, the use of changes in the tax laws and new regulations to encourage a diversity of business models.
Nobel laureate and economist Milton Friedman of the Chicago School of Economics argued that business leaders ‘biggest responsibility is to enrich their shareholders.’ “The business of business is business,” he proclaimed. Eugene Fama of the University of Chicago and Michael… Read More ›
What is a just price? Consensus opinion holds that market price, referring to a theoretical point of equilibrium where supply satisfies demand is inherently fair. This assumption holds that the market and the wisdom of the crowd will automatically set… Read More ›
As a result of getting stock bonuses, executives treat their firms’ share prices as the main measurement of performance. However, instead of managing their firms, CEOs inevitably try ‘managing the market.’
As a sign outside a pub in Boston comically advises’temperance in moderation’. This illustrate the contradictions inherent in human behavior. The philosophy of utilitarianism says that the purpose of life is to do whatever to maximizes individual contentment, or utility…. Read More ›