If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!A major problem of economic thought is that economics is not recognized as a complex non-linear system. Non-linearity generally means that the system can not be described as the sum of independent non-interacting components. Of course humans are inherently [...]

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I just learned the toe drag scoop which is probably my greatest shot at ever pulling off the Michigan move in inline hockey. Of course any 12 year old player can probably do this. Then again it’s been years since I was 12.
Learning is most effectively achieved when three conditions are present

Quality instruction - You [...]

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Game theory is the mathematical description of the structure of strategic decisions when the choices of two agents directly influence the other. Much work has been dedicated towards finding optimal strategies; in fact much military and political strategy is built on mathematical foundations, but it also governs economic decisions.
Consequently some knowledge of game theory can [...]

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Before you vote, you may want to watch this 30 minute I.O.U.S.A. clip on youtube. History shows (think Soviet Union for a recent example) that the wrong fiscal policy can be as almost as destructive to the general welfare of the population as conventional war.

Here is an article to the main candidates’ position on the [...]

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As I write this, I’m sitting at the dinette of our RV. From here, without getting up, I can

Open the window to my right
Adjust the blinds
Turn on the large fan with the switch behind my head
Reach around me to check the room temperature
Plug things into 4 outlets
Get the dog’s bowl
Turn on the lights over [...]

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One of the, perhaps not so surprising, benefits of moving into a smaller place — two persons and a small dog in a 34′ RV — is that the question is no longer whether we can afford to buy something. Thanks to the difference between living in a house and living here, we have $1000+ [...]

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When I write posts, I face the same dilemma as a researcher presenting results. If you have hung around the research circuit for a while, you notice that there are different ways of thinking about exactly the same thing. Some focus on the detailed technical aspects of the calculations: “This is described by this ginormous [...]

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Most people (especially financial planners and pf bloggers) make the idea of retirement savings much too complicated talking about index funds, 401ks, and compound returns. Many people blank out and simply follow the well-intended advice without questioning these experts. However, it is really not that difficult.
The quintessence of saving is to spend the money while [...]

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Those with lower wealth will eventually get done in by consumption. They’re simply spending too much to be able to invest significant amounts overseas.
— from the book Richistan by Robert Frank
I’d make that “invest significant amounts” period. Wealth is defined as the ratio between investable assets (not consumer assets like the house you live in [...]

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Two readers recently asked me whether I thought taking out a student loan to get an education to increase one’s income would be a good idea. Is it reasonable to consider education an “investment”? Most people I know would say so and education is commonly always considered an investment in one’s future. Often some piece [...]

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