“All life is a purposeful struggle, and your only choice is the choice of a goal.“- John Galt, Atlas Shrugged
The producers have announced that Atlas Shrugged Part III will be released in 2014. We ended Part II entering what we will learn is Galt’s Gulch. Dagny learns that John Galt and the residents have been waiting for her. Why? And what is John Galt’s plan? Who is John Galt?
“Art is the elimination of the unnecessary” – Pablo Picasso
When constructing personal financial plans, the best methods should seem simple so it may be easily understood. Sophistication is in the design. The elegance is the challenge.
Oh, to be humble.
Saturday Morning Breakfast Cereal (the comic strip) is one of the funniest humor strips I can remember. While the attached link and strip is aimed at economists on Sunday morning television shows, it may have other uses. Like, when listening to a financial services professional.
“But with increasing numbers of economists stemming from maths and engineering, what they are bringing with them is not economic understanding. Well-equipped critical thinkers are being discouraged from entering a discipline that is obsessed with the false certainty of mathematical analysis.“- Damian Mercier, On the False Precision of Mathematical Economics
When dealing with humans, consider mathematics a tool. Mathematics is not the logic of human behavior.
For those that prefer a visual, follow the link to this comic strip. Saturday Morning Breakfast Cereal, “Before Economics” (comic)
“The monopoly problem mankind has to face today is not an outgrowth of the operation of the market economy. It is a product of purposive action on the part of governments. It is not one of the evils inherent in capitalism as the demagogues trumpet.“- Ludwig von Mises, Human Action
purposive- Having, serving, or done with a purpose.
So, what is a monopoly? How do they exist? Are they bad? Praxgirl‘s series continues as we define the term and see if it fits into our understanding of a free market economy.
To continue the series, follow the link.
David Loeper‘s recent article asks an interesting question that is on the minds of many people I have talked to recently.
“Market timing has become fairly well known among academics, advisors and investors to be a risky strategy when dealing with serious money designated to fund future lifestyles. I’m not going to go into the plethora of pitfalls of market timing in this article, as there is an abundance of evidence freely available to argue against it.
Despite this, with the known uncertainty of the fiscal cliff looming imminently on our near-term horizon, what is the real cost of taking your money off the capital market table and waiting it out to see what happens?
Even though market timing is generally known to be a risky and costly endeavor, might it be different this time with the looming fiscal cliff?”
Let’s finish the article here http://www.forbes.com/sites/advisor/2012/12/14/how-to-market-time-the-fiscal-cliff/
“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.“- Friedrich von Hayek
EconStories has a brand new Christmas album ready for consumption. And, it isn’t too early in the season to learn a little about how markets function and how theories that have continuously been harmful continue to be sprinkled through the stories we hear over newscasts and dinner parties. That is too bad. We should know better.