Money talk

March 5, 2020

There are two types of systems, first order and second order. But what is the difference between the two systems. Easy, just read Sapiens by Yuval N. Harari. To put it simply, reliable predictions in a first-order system do not affect their outcome, for example the Weather Forecast. On the other hand, in a second order system, the more reliable the predictions, the less they are realized, for example those concerning the financial markets.

In Paul Krugman’s interview, two points are clarified.

  1. the impossibility of predicting short-term economic fluctuations.
  2. The rehabilitation of Bernie Sanders and his electoral program centered around a public health system accessible to all.

It is good to hear that finally an American explains that the word “Socialist” is not a dirty word. Paul Krugman says about Bernie Sanders, a politician that the right wing of the Republican party insists to qualify as a social-communist scarecrow, is in fact only a center-left social democrat.

With the arrival on the voting market of “Millennials”, the generation following the “Babies Boomers”, are the clichés of the Cold War (1948-1989) finally on the decline?

Listen to a Nobel Prize in Economics, literacy is not a crime.
A little modesty, however immense, never killed anyone.

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