The more things change, the more they stay the same. Of course, if the basic economics of the industry never changed in the first place, why should we expect anything but more of the same.
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Witness the birth of Google, the business giant: Veach and Kamangar argued that all the ad slots should be auctioned off. In search, Google had already used scale, power, and clever algorithms to change the way people accessed information. By turning over its sales process entirely to an auction-based system, the company could similarly upend [...] Richard Posner (who literally wrote the textbook on law and economics) replied to Alan Greenspan’s defense of his actions as fed chairman (his not taking action to burst the bubble). As I have read it, the debate centers on whether short term rates that the fed controls (the fed funds rate) can influence long-term interest [...] “If it ain’t broke, don’t fix it” You often hear about the perils of sunk costs, but can sunk benefits lead to bad choices too? I can imagine many situations were people would cling to something because it had been beneficial in the past. Maybe that’s why our government is so insistent on [...] The more things change, the more they are the same. In a drought, the river may dry up, but the lay of the land stays the same. When the rain returns, the waters will flow the same way. The structure of the Finance industry (the lay of the land created by laws, technology, [...] |
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Copyright © 2012 Joel E Lewis - All Rights Reserved |
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