Must-Read: Thomas Philippon

Must-Read: An absolutely key issue: why doesn’t the logic of cost-reduction via scale and technology work for finance as a whole? It certainly works for commissions… Thomas Philippon: Finance vs. […]

Questions for the medium run…

Take the mechanics of demand stabilization and management off the table. Move, in our imagination at least, into a world in which short-term safe nominal interest rates rarely if ever […]