DUNCAN WATTS ~ SIX DEGREES

~ RMANOAAHDACCTASO-SYOTIETARIOTTTS ~ Rationality Makes A Number Of Assumptions About Human Dispositions And Cognitive Capabilities That Are So Outrageous – Several Years Of Training In Economic Theory Are Required In Order To Take Them Seriously

~ MHNBFTM ~ Mania Has No Better Friend Than Money

~ ED ~ Extraordinary Delusions

NASSIM NICHOLAS TALEB ~ THE BED OF PROCRUSTES ~ 2010

~ YNWAAUTAYP ~ You Never Win An Argument Until They Attack Your Person

~ IOTML ~ I Only Trust My Library

~ TBCCON-SAYRTPWN ~ To Be Completely Cured Of Newspapers – Spend A Year Reading The Previous Week’s Newspapers

~ TOOSIF-II-ND ~ The Opposite Of Success Isn’t Failure – It Is – Name-Dropping

~ YDBCFBJATBAS-YANTABAM ~ You Don’t Become Completely Free By Just Avoiding To Be A Slave – You Also Need To Avoid Becoming A Master

~ WFC-‘WT’-IO-TBI ~ What Fools Call – “Wasting Time” – Is Often – The Best Investment

~ YWTABDWBEOA ~ You Want To Avoid Being Disliked Without Being Envied Or Admired

~ TFWTBRITSWTP-TFWTBPITSWTR ~ The Fastest Way To Become Rich Is To Socialize With The Poor – The Fastest Way To Become Poor Is To Socialize With The Rich

~ YARIAOIMYRTBTMYA ~ You Are Rich If And Only If Money You Refuse Tastes Better Than Money You Accept

~ TWIAUPFSHFA ~ The Web Is An Unhealthy Place For Someone Hungry For Attention

~ DCTLAWDY-YMGITYLIE ~ Don’t Complain Too Loud About Wrongs Done You – You May Give Ideas To Your Less Imaginative Enemies

~ OTLT-YAMLTFYTO ~ Over The Long Term – You Are More Likely To Fool Yourself Than Others

~ PUASTCDIA ~ People Usually Apologize So They Can Do It Again

~ IITWUOWATMUWSUT ~ It Is Those Who Use Others Who Are The Most Upset When Someone Uses Them

~ WITAOROWAN ~ Writing Is The Art Of Repeating Oneself Without Anyone Noticing

~ YAAIIPTTDOCIYW ~ You Are Alive In Inverse Proportion To The Density Of Cliches In Your Writing

~ IMHTWABRFABYRTFABYHR ~ It’s Much Harder To Write A Book Review For A Book You’ve Read Than For A Book You Haven’t Read

~ M-ME-A-DP ~ Most – Modern Efficiencies – Are – Deferred Punishment

~ TIRDA ~ The Information-Rich Dark Ages

~ MIAWTBNWHA ~ Meditation Is A Way To Be Narcissistic Without Hurting Anyone

~ PGIWYHTI-EOFISS ~ Pure Generosity Is When You Help The Ingrate – Every Other Form Is Self-Serving

~ WCBTC-TN ~ When Conflicted Between Two Choices – Take Neither

~ RP ~ Rationalist-Proof

CHARLES MORRIS ~ THE TRILLION DOLLAR MELTDOWN ~ 2008

~ AAASFATETVOSI ~ Academics Are Always Suckers For Arguments That Extol The Virtues Of Superior Intelligence

~ IARLI-NIGTWUTBT ~ Intellectuals Are Reliable Lagging Indicators – Near-Infallible Guides To What Used To Be True

~ IRM-TSOMDAOSAEO ~ In Raw Markets – The Scent Of Money Deadens All Other Sensory And Ethical Organs

~ TCOTISIA ~ The Complexity Of The Instruments Spiralled Into Absurdity

~ AAGR-OTVSPCMTCM ~ As A General Rule – Only The Very Smartest People Can Make Truly Catastrophic Mistakes

~ TIDOIDBMC ~ The Increased Dominance Of Investment Decisions By Mathematical Constructs

~ TITURWWUAUC ~ The Illusion That The Underlying Risks Were Well Understood And Under Control

~ TGGORT ~ The Great Game Of Risk Transfer

~ VBVCVOSBOERFAARFC ~ Very Big – Very Complex – Very Opaque – Structures – Built On – Extremely Rickety Foundations – Are A Recipe For Collapse

~ TGU ~ The Great Unwinding

~ HWRAPSITCC? ~ Have We Reached A Ponzi Stage In The Credit Cycle?

~ SMTTFSATMECF ~ Shovelling Money To The Financial Sector And The Monied Elite Comes First

~ GS-IS-IPON-DOWISO ~ Government Spending – In Short – Is Productive Or Not – Depending On What It’s Spent On

JOSEPH HEATH ~ THE EFFICIENT SOCIETY ~ 2001

~ PWCITPOMFTIHD ~ People Who Could Improve The Performance Of Machines Found Themselves In High Demand

~ TEOHR-UCOFAE-TTGM-NL-DATUAOL ~ The Exercise Of Human Reason – Under Conditions Of Freedom And Equality – Tends To Generate More – Not Less – Disagreement About The Ultimate Aims Of Life

~ WIAITMEMP-IDNNPACOTIE ~ When Individuals Act In The Most Efficient Manner Possible – It Does Not Necessarily Produce A Collective Outcome That Is Efficient

~ THDPAAWODWO ~ Trade Has Developed Primarily As A Way Of Dealing With Outsiders

~ CMWW-TIARS-WLU-CHATTGOOH ~ Competition May Work Well – But It Always Requires Supervision – When Left Unattended – Competitions Have A Tendency To Get Out Of Hand

~ WKACHINTGIOTC-BTSORTCTC ~ What Keeps A Competition Healthy Is Not The Good Intentions Of The Competitors – But The Set Of Rules That Constrain The Competition

~ ISR-IDTIAMTMOTUDOC ~ Industry Self-Regulation – It’s Difficult To Imagine A More Total Misunderstanding Of The Underlying Dynamic Of Capitalism

~ MANM-A-TWNSAOP-TWPOUVSIC ~ Markets Are Not Magical – And – They Will Not Solve All Our Problems – They Work Properly Only Under Very Specific Institutional Conditions

~ ‘BOTIH’ ~ “Backside Of The Invisible Hand”

~ MFITB-IITFC ~ Market Failure Is The Baseline – It Is The Fundamental Condition

~ TGWOTMSSFTVLROGTTSOPRAT ~ The Greatest Weakness Of The Market System Stems From The Very Limited Range Of Goods That The System Of Property Rights Applies To

~ MESUGWPE-ASBS ~ Market Economies Systematically Underproduce Goods With Positive Externalities – And So Beauty Suffers

~ TINAPRTTTPSBWBMETPSB ~ There Is No A Priori Reason To Think That Private-Sector Bureaucracies Will Be More Efficient Than Public-Sector Bureaucracies

~ C-DBTFSOTC-AAASOMF ~ Corporations – Despite Being The Foremost Symbol Of Triumphant Capitalism – Are Actually A Symptom Of Market Failure

~ BTASVTM-TVMOIPASTTMF ~ Because They Are So Vulnerable To Manipulation – The Vast Majority Of Insurance Products Are Subject To Total Market Failure

~ IMIGIATDGASMETTPS ~ In Many Instances Government Is Able To Deliver Goods And Services More Efficiently Than The Private Sector

~ MPASTTSOO-MOUWRNLIASTATDOUTSOFTD ~ Most People Are Sensitive To The Suffering Of Others – Most Of Us Would Rather Not Live In A Society That Allows The Disadvantaged Or Unfortunate To Starve Or Freeze To Death

~ TSOOEWMAATTOOATTCAOW ~ The Saturation Of Our Environment With Media And Advertising Threatens To Overwhelm Our Ability To Think Critically About Our World

~ TPWSIITIGACOPWSTBFTPOSB ~ The Problem With Social Inequality Is That It Generates A Class Of People Who Stand To Benefit From The Production Of Social Bads

~ OFBTARIOASTTRIAGIAILTITOEOTE ~ Opposition From Business To A Regulation Is Often A Sign That The Regulation Is A Good Idea And Is Likely To Improve The Overall Efficiency Of The Economy

~ NWITOAMOWTDW ~ Not Working Is The Oldest And Most Ostentatious Way To Display Wealth

~ PIIUU ~ Patenting Ideas Is Ultimately Unworkable

~ TINESFTROL ~ There Is No Effective Substitute For The Rule Of Law

~ TWSEFAFTPE ~ The Welfare State Exists First And Foremost To Promote Efficiency