But can we stop the movement’s passion from giving way to misery and hypocrisy?
The GameStop price action is nothing short of revolutionary. But revolutions have a way of burning themselves out and leaving people disillusioned and miserable. Without guiding principles and leaders of character, high ideals are overridden by an enthusiasm for punishment and retribution.
I’m one of many sitting on the sidelines…
The pandemic is a dip in the road compared to the long-term trends that drive economic growth
Ask an economist what the biggest questions are in the world today and you might be surprised by the answer. At a time when the pandemic has captured the full attention of experts, some have managed to remain aloof from these immediate concerns. …
Which is why you should question everything
There’s a kind of wisdom in herd behavior. When you see a large group of people fleeing in panic from some unseen threat, you could hang around and find out what all the fuss is about, or you could join them in their frenzied evacuation. The safest option is likely…
How religious ideas still shape our moral attitude toward capitalism.
If there was a way of thinking that encapsulated the foundation of the United States it was that the American people were destined for greatness yet had still to prove themselves worthy of it. …
How should we interpret the new push for government-run digital money?
For years central banks have shown nothing more than a passing interest in digital currencies. If the topic was raised, it was usually to remind us that crypto currencies and other private digital money providers would have a hard time competing with the government. …
How a country assumed its way out of a crisis
The Australian federal budget is long-awaited, not just because we finally get a glimpse of the immediate fiscal cost of the pandemic but because we now have a clear articulation of the government’s assumptions about how the pandemic will evolve and what the recovery will look like.
According to the U.S. Fed, household net worth is at an all time high
Last month a very interesting tidbit was released by the U.S. Federal Reserve. It shows, remarkably, that households, businesses, and governments are the wealthiest they have ever been, both in nominal and real terms. The release covers the June quarter, which includes much of the economic fallout from the nation-wide…
Keynes’s legacy extends beyond theory to the world of action, speculation, and ambition
It is a strange thing to hear economists talk of ‘animal spirits’ who themselves appear to be animated by little more than elaborate, closed-off theories. There are more than enough economists who claim some insight into how economies operate without ever gaining first-hand experience of the market. Exposure to the…
Investors were not thrilled to hear next-gen batteries are three years off
Given the hype surrounding America’s brave new carmaker, it’s hardly surprising that many of us struggle to buy into the vision, let alone the stock. Even after coming off its most recent all-time high, the valuation is simply too risky, and the road is littered with broken promises. …
How can we recapture the magic of our physical retail spaces?
I never thought I’d say this, but the death of the mall feels like one of the great social tragedies of our time. We often hear of the death of churches, trade unions, community centers, libraries, clubs, and other associations that for centuries have been part of our social and…
Gordon Toy
Writer and analyst based in Melbourne, Australia. Investing, markets, politics, history of economic thought. More at: https://www.gordontoy.com/
