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Asimov on perceiving the world

July 8, 2009

Via economist Dan Ariely's blog, this is what Isaac Asimov thought about perceiving the world through data. It is an implicitly Bayesian approach and brings to mind the famous Keynes quote about changing one's mind. Asimov wrote: "Don't you believe in flying saucers, they ask me? Don't you believe in telepathy? — in ancient astronauts? — […]

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"It is better to be roughly right than precisely wrong."

January 31, 2009

Despicable though his character may have been, Keynes said some remarkable things, the title of this post among them. He also uttered the cliched investing mottos regarding animal spirits and beauty contests -- true statements all, but widely abused by financial textbooks. My favorite, which remains somewhat unknown despite its enormous relevance, is: The market […]

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We are all Keynesians now

January 31, 2009

NPR has an interesting article titled "Obama Gives Keynes His First Real-World Test."  I'm not convinced that's entirely accurate, it appears to be missing an appropriate disclaimer -- Keynesian economics played a large role in the New Deal (though, the article suggests, not enough of one).  Richard Nixon (yes, him again) famously declared in 1972 […]

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