Sometimes I get emails asking me whether I think joining the military (with its early pension benefit and paid education, etc.) is a good idea. Seeing that I don’t know how to answer this (I grew up in a country where the military relies on a very small professional core and drafting about 1/3 of [...]

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Everybody ought to be familiar with the concept of marginal utility, which is the utility/use/satisfaction that adding one more unit brings. For example, suppose you like ice cream cones. Then the marginal utility of the first cone is high. The second is a bit lower, but once the belly fills up and the blood sugar [...]

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I have added several points to the frequently asked questions. Most of them are intended for infrequent readers of the blog and they now also cover “frequently voiced concerns” like whether one has a duty to work, the “sure it works now, but what if …”-cases, and various nitpickery about the technical definition of the [...]

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