The Wealth of Nations

Who’s wealthier, a Maasai elder or your average American?

A few years ago, my wife and I enjoyed a marvelous hike through the bush of Tanzania while on safari. After camping in the village of Nainokanoka, we set off early with Moloton, our Maasai guide, and we walked amongst the buffalo, gazelles, wildebeest, and zebra on our way to a campsite at Empakaai, a gorgeous crater lake that legions of flamingos call home.

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It was positively Edenic … I still can’t believe my wife did it while pregnant …

Anyway, as we walked through some of the villages, I noticed an abundance of domesticated animals grazing around the boma— cattle, goats, sheep, chickens.

Since this was a long hike, I had lots of time to get lost in thought. And I kept pondering the question at the top of this page. (more…)

Favorite Podcast Episodes (2017)

In The Inevitable, Kevin Kelly says that at least 27 new podcasts launch each day. That’s nearly 10,000 per year! And I bet that number has grown since his book was published.

I haven’t looked very hard for a solution, but one of my biggest headaches with podcasts is discovery: finding a new voice / perspective to which I want to listen. Since most podcasts target a niche, then by definition, to each listener, most podcasts are shit. (more…)

A Quick Take on Farhad Manjoo’s Piece About the Public / Private Market Conundrum

Farhad Manjoo has a thought-provoking piece on tech companies staying private. This is a dynamic that Benedict Anderson recently highlighted in an Andreessen Horowitz presentation on the state of U.S. Venture Capital / Tech Funding that deservedly generated a lot of buzz (see: US Tech Funding).  Both are worth reading if you’re into these sorts of things.

In a rare hour of silence I took to the blog to jot down some thoughts / questions that occurred to me while reading the article. (more…)

QE & Inequality

I believe that the policies we have undertaken have been meant to generate a robust recovery.1

Effective demand is dead in the water.2

Quantitative easing…is that, like, making math easier?3

Well, goodbye to all that.  Until the next time, Quantitative Easing.

For normal people with more interesting lives, I imagine articles headlined with the words “quantitative easing” prompt a mild degree of nausea and / or disinterest.  As for me, for the last six years4 I’ve found it hard to avoid reading pieces on the unparalleled series of unconventional monetary policies: QE 1, QE 2, Operation Twist, QE 3.  So much juicing of the financial markets, so much time I will never have back, so many unintended consequences nobody can foresee. (more…)

Vox on Millennials, Risk Aversion, Investing and Success in Life

OMG. Millennials are idiots. They put less than half of their savings in stocks. When they’re old, they’ll subsist on a cat food diet because they were terrible investors.

Reading this article on Vox.com raised my blood pressure and left me baffled/speechless.1 Conor Sen (@conorsen) asked me why, so I’ve pulled together some thoughts on why the piece was misleading.

Seven Ways a Vox.com Article Provided No Context

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