Markets misbehave, sometimes when we least expect it. How badly they misbehave depends on the soundness of the hull and the level of self-reinforcing hubris.
"The Misbehavior of Markets" is one of the books that profoundly changed my understanding. Like "The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else" by Hernando de Soto, and a handful of other of the many books I've read. You must have your own short list--
Thanks. I've no idea how I missed that. I've added it to my reading list. The markets and the plandemic demonstrated many nasty habits that crowds of people are prone to. Are you familiar with Catastrophe theory?
"The Misbehavior of Markets" is one of the books that profoundly changed my understanding. Like "The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else" by Hernando de Soto, and a handful of other of the many books I've read. You must have your own short list--
warm regards, charles
Short list? I can try... :)
In no particular order.
The Logic of Scientific Discovery Karl Popper
Man economy and state Murray Rothbard
Quantum Theory and the Schism in Physics Karl Popper
The Book of Five Rings Miyamoto Musashi
4th Generation Warfare Handbook William S. Lind
The Road to Reality: A Complete Guide to the Laws of the Universe Roger Penrose
Human Action Ludwig von Mises
Thanks. I've no idea how I missed that. I've added it to my reading list. The markets and the plandemic demonstrated many nasty habits that crowds of people are prone to. Are you familiar with Catastrophe theory?
https://en.wikipedia.org/wiki/Catastrophe_theory
Its rather useful for these types of systems, but one has to be quite careful in its application.