“Situations of uncertainty and intractability rule out optimization and, along with it, the usefulness of the theory of maximizing subjective expected utility.” Gerd Gigernzer, November 2024. The r…| Convex Strategies
“…granting boundless power to government agencies to solve the world’s problems does not square with my disposition…some may believe the biggest threat to our economy comes from outsiders who seek …| Convex Strategies
“To ensure that a central bank does not prioritise the solvency of the sovereign over its primary mandate of price stability, the European treaties prohibit monetary state financing. In its public …| Convex Strategies
Last month we titled our Update “Recession. Yay!” in which we said this: “As we have stated over recent months, the ‘good outcome’ would be to get to the recession, and we see people willingly buy …| Convex Strategies