Exit Strategy
In the aftermath of the Vietnam War, military strategists began to more seriously consider the importance of an “exit strategy.” The idea, as I mentioned […]
Strategy
Weapons of Math Destruction
Last week, just after I submitted my blog, I heard on NPR about a book arguing similar points by Cathy O’Neil, titled Weapons of Math […]
Statistical Deception
Statistical reasoning is a valuable tool that is unfortunately vastly abused in practice. Whether because of mistaken self-deception or deliberate misdirection, statistical arguments are routinely […]
Balance Sheet Recessions
Economist Richard C. Koo coined the term “balance sheet recession” to refer to the unusual problem faced by Japan since the 1990s, and subsequently by […]
Dynamic Private Strategy
Interests in a credit-driven system are polarized because leverage is an almost irresistible temptation for bulls, but also creates great vulnerabilities that bears can exploit. […]
Strategic Private Power
Originally posted on World Policy Institute blog August 4, 2016 – Strategic Private Power. Last week I introduced the crucial difference between productive and unproductive […]
Reading Data Strategically
“The facts speak for themselves” is a commonplace saying, but it is not true. Economic and business data can be read all sorts of different […]
Debt Deflation
My blog on “The Great Crash” two weeks ago mentioned Irving Fisher, the Yale economist who days before the great stock market crash of 1929 […]
From Business Strategy to Business Cycle
So far in these blogs we have covered some basic financial instruments: bills, bonds, and derivatives. Now let’s consider how they are used to implement […]