Welcome to the age of the hermit consumer
In some ways the covid-19 pandemic was a blip. After soaring in 2020, unemployment across the rich world quickly dropped to pre-pandemic lows. Rich countries reattained their pre-covid gdp levels in short order. And yet, more than two years after lockdowns were lifted, at least one change appears to be enduring: consumer habits across the […]
Prisoner’s Dilemma: A Current Application
We saw a good illustration of the paradigmatic Prisoner’s Dilemma (widely used in economics and other sciences) when Sidney Powell, one of Trump’s lawyers after his 2020 defeat, agreed on October 19 to a plea deal and recognized her guilt for some misdemeanors. She also had to promise to testify at the trials of her […]
The Awestruck and the Awws
If we exclude misanthropes, most people today can – without excessive simplification – be divided into two distinct camps: the Awestruck and the Awws. The Awestruck are unceasingly amazed at the modern world. They are enormously grateful for the countless amenities and benefits of life in the modern global economy. They are aware that nearly […]
James Sinclair Dies At 83
Many have written in saying how they came to hear about me was that James Sinclair, they call Mr. Gold, was publishing my handwritten reports from prison on contempt. Jim contributed to the promotion of gold post-Bretton Woods. I was purely an institutional adviser before they threw me in contempt for refusing to turn […]
