don't worry, Be Happy

I am done blogging on banking until the political theatre is over. However, you may have reacted to my previous post by wondering how the economics profession gets blamed for anything? The answer is the same as the failure of all social sciences during the positivist phase; they tried to be a natural science. In Econ's case, they got seduced by math. Psychology, which was my original interest in college, until I learned it was about training rats, got sucked into behaviorism. In both cases, it involves leaving out important parts of what they are studying.

Here is a wonderfully pithy review mocking tbe arrogance of Reason in positivist thinking. Glad I gave up analytic philosophy but then I was mediocre at it, although Quine had me seduced for awhile. The real world is way more interesting. This also reflects what bugs me about Richard Dawkins' view on religion. My dear atheist friends: the lesson is to be agnostic. Not only will it better reflect your epistemic position in the world but you will be able to get along with the wonderful theists who actually think, and who make the world a better place.

Here is Jeremy Grantham's newsletter. Pretty wonky but some important insights. To surf the bubble and jump off before it bursts, and then never invest in equities again.

And finally, here is a fun review of a book on Ayn Rand, who also seduced me in my youth. If only Alan Greenspan was more reflective we would all be a lot better off today.