Within a heavily regulated unfree market place, yes. Again, I said it wasn’t a laissez-faire market. It was the collapse of one of the most heavily regulated markets in the US. You can make the argument free market principals failed in a heavily regulated market all you want, but you aren’t addressing my point. You are using the collapse of a heavily regulated market place to show the failures of the laissez-faire market. That isn’t a no true Scotsman argument. You literally not only didn’t pick a free market to criticize, you picked one of the least free, most heavily regulated markets as your example. Granted 0 and 100% regulation don’t really exist, but if you are going to find an example of how 0% is bad, you should at least choose something towards that end of the available spectrum instead of one closest to the 100% end.
And yet, Alan Greenspan–Alan Greenspan–felt it represented a failure of market principles. I’m not asking you to put any stock in what I say in this regard, but I do expect you to give serious weight to what he says.
When you close your eyes, you really close them tight. Greenspan didn’t contradict what I wrote. You didn’t contradict what I wrote. You picked a terrible example to illustrate what you were asserting, an example that does more to detract from your argument. I mean you could have gone all out I guess and claimed that the USSR collapse illustrates a failure of free marketplaces and that would have been worse, but not by that much. The collapse of a market at the extremely regulated end of the spectrum is your example of the failure of free markets. It’s absurd.
It would seem your argument is with Greenspan, not me.
Not even a little bit, but you keep hating on that laissez faire USSR.
Hey, glad to hear that you’re enjoying it! No, I haven’t read Thinking, Fast and Slow, polo. I was thinking of starting a book group thread in PWI where we could talk books and also maybe documentaries and films. History, politics, religion, philosophy, economics? Thinking about both things we’re reading now, and things that we would recommend. I’ll do that when I have a little more time.
Anything by Kahneman and Tversky is pretty good. Another one is Thaler’s Misbehaving.
I’d be down for this. Though, we’d have to move through a book a week, otherwise I’d be onto the next one
Care to give a quick review? I’ve read some reviews and after reading Nudge I couldn’t bring myself to pick Misbehaving up as much as the topic interests me.
Thinking is straight money PP. I’d recommend reading that before Lewis’s new one as it adds more depth to who Lewis is writing about but I doubt you’d suffer if you read Lewis’s first.
I’d be into that with the caveat I may not have time to commit to every book. I’d want to as there are some very knowledgeable, insightful people over in PWI and I could learn a lot.
The PWI Required Reading List
I haven’t read Nudge for the same reasons you insinuated, but it’s on my list. Although, it seems to never make it to the top
Thaler reminds me of how Cooper Manning must feel. He has some good insights, but swoons over his relationship with Daniel and Amos like he was a member of a small elite fraternity. It isn’t a bad read, it’s a 4/5. I listened to it on Audible.
OK. I like all the “why people make decisions/ psychology” part of it. I get so lost in the money stuff, so that would probably be good for me, but I find it WAY less fun. Thanks for the heads’ up.
Me either. I was thinking of it as more of a book recommendation/ way to talk about ideas, although it would be fun if some of us occasionally have time to read a book and talk about it concurrently.
My big problem these days is remembering what I’ve read, and where I read it.
Gotcha … thanks for convincing me to never read it
I just got Audible and I fuckin’ love it. I have a 40 minute commute one way to work and so far I’ve busted through Capitalism and Freedom and I love their channels feature. Great stuff.
I drive at least two hours a day, and will be driving 5 tomorrow. Last year I listened to almost 7 days of audio books. It’s pretty ridiculous. The nice thing is my company pays for my audio book addiction.