Todd Henderson and Dorothy Shapiro wrote me a thoughtful response to my post on non-voting shares. Todd and Dorothy: Response to Cochrane We are grateful for Cochrane’s thoughtful response to our [ … ]

photo credit: Bigstock I hesitate to show myself in a good light—it seems so much more honest, somehow, to confess to being a complete swine—but the other day I did [ … ]

The over-criminalization of America has undermined justice, the rule of law and legal egalitarianism. While the corporate media devotes itself to sports, entertainment, dining out and the latest political kerfuffle, [ … ]

In my last post about AI I briefly broke down a survey of Artificial and Machine Learnings ‘experts’.  Rather then doing forensics of the survey I started at the very [ … ]

There will never be a bigger plane built. —Boeing engineer on the 247, a twin engine plane that held ten people.   The word “robot” comes from robota, which is Czech [ … ]

Employers have no choice: it’s innovate/automate or die. Automation–networked robotics, software and processes–has already had a major impact on jobs. As this chart from my colleague Gordon T. Long illustrates, the [ … ]

Anthony Diercks has a very useful review of the the academic literature on the question, what is the optimal inflation rate? He includes 150 papers, ordered from low to high inflation. [ … ]

In March I began the post-mortem on Uber. The body had not yet given up its ghost, but I was impatient. This is the very last Uber post. It’s the one [ … ]

The entire global economy now depends on this stripped-of-information “market” for its stability. Ho-hum, another day, another record high in the S&P 500 (SPX). What is this market telling us? If [ … ]

The “fixes” to the stagnation of postwar Capitalism in the 1970s were financialization, globalism, and the sustained expansion of debt–all have run out of steam. Many of us have written [ … ]