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Jan. 25th, 2019

Remember the Achilles dilemma? No Pareto improvement is possible under the existing moral and social constraints.

Homer invented Odysseus as a breakthrough solution to the Achilles dilemma. Now, inspired by Homer, the Greek polis invents the hoplite and phalanx to achieve the same breakthrough in real life.

"" (Watch on YouTube)

https://youtu.be/TuJ7lGZVUl4?t=469

On the merits of Ross' advice to furloughed federal workers: If you are in a difficult financial situation, have no assets and somebody advises you to take a consumption loan instead of seeking alternative sources of income, dump the advisor.

Сегодня отличная погода. Сейчас все брошу и пойду прогуляюсь.

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Jan. 25th, 2019

Jan. 25th, 2019

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Investment vs consumption loans

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