Richard Dawkins’s Tree Metaphor: Why Free Markets Are So Inefficient

‘What can market lovers learn from nature’s competitions? Systems of self-interested agents, myopically responding to local incentives, can evolve unfruitful competitions. Once a way of competing arises, opting out can be suicide. If we let markets imitate trees (and most of nature) in practicing unfettered mindless competition, we miss the point of being human, which is to use reason and foresight to coordinate better outcomes.’

Richard Dawkins’s Tree Metaphor: Why Free Markets Are So Inefficient

Open mind

‘Science doesn’t strip away the grandeur of the universe; the intricate patterns only become lovelier as more keep appearing and coming into focus.  Science leads to connections across scales, from universes to quarks.  And we, with our ardent desire and ability to know ever more, are lucky enough to be at the nexus of all this richness.’

“Keeping an Open Mind Is a Virtue, but not so Open that Your Brains Fall Out.”

The biggest secret to learning a new language

‘To put it simply, cultural semantics is the study of the meaning of words and phrases and their connection to culture. Many words in a language are unique; they cannot be exactly translated into other languages. Every word has a whole range of connotations, images, and associations that you cannot map to another language.’

The biggest secret to learning a new language

The Future of Monetary Policy – Normalization or New Norms?

‘Since the financial crisis of 2008, central banks have been operating in an emergency mode. In order to deal with the new post-crisis market conditions, they had to accept broadening their mandates beyond the traditionally defined macroeconomic targets, such as keeping prices stable and unemployment low, to include overseeing financial stability and economic growth. The challenge of achieving both the old and the new targets required central banks to introduce several “unconventional” tools, including quantitative easing (QE) and the negative interest rates policy (NIRP). ‘

The Future of Monetary Policy – Normalization or New Norms?

Why people still matter in the A.I. age

”While this allows Facebook to recognize faces in photographs and enables
Netflix to recommend movies based on viewing habits, it is no substitute
for human thought. “These systems don’t think or come up with ideas or
tell you what sort of business change to implement,” adds Engates. “They
are simply powerful tools that can lead to better services and increased
productivity.”

Why people still matter in the A.I. age