The Finnish Experience – Happiness Is Financial Illiteracy

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We're told that Finland is financially illiterate, so much so that the central bank is desperately trying to teach people how to count their...

Central Bankers May Blow, But They Suck At It

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AESOP wrote in the 6th century BC about the North Wind and the Sun competing to remove a traveller's cloak from his back. The more...

De La Rue – A Fine Example Of Kitchen Sinking

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A kitchen sink is, well, it's that sink in the kitchen we use to clean up the plates and cutlery in. It's also where...

An Interesting Thought – Has Elon Musk Breached Securities Laws By Making Tesla Announcements...

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There's at least an arguable case that Elon Musk has breached securities laws by announcing various Tesla plans and ideas upon Twitter. One final note...

Unicorns and Nightmares

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Let it not be said we’re asleep on the job here in our dismal pit. No wide awake are we. Hence, immediately a quill...

WeWork As A Proof Of The Efficient Markets Hypothesis

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The little jokule about the efficient markets hypothesis is that Eugene Fama got the Nobel for proving it, Lars Hansen for doing the maths,...

Laurence Kotlikoff On What Really Produced The Recession And Crash – No, Not Bad...

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It's not necessary to entirely agree with this analysis to grasp and agree with the underlying point being made. It was the structure of...

Revenue Recognition Is Always A Difficult Thing – Tesco, Eddie Stobart and WeWork

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Just when is revenue actually revenue? A supermarket chain, a trucking and logistics company, Turkish fruit packaging, the most overhyped VC investment of all time,...

Nick Shaxson Entirely Misses The Point Of Comparative Advantage

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Sure, we can forgive people for not grasping the point or detail of comparative advantage. It is, after all, the only non-trivial and non-obvious...

Two Absurd Claims About Lending And The Great Crash

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The Observer's business editorial really outdoes itself today with two fallacious claims about bank lending and recessions, crashes and even the Great Crash. It...