The probability of ruin of unhedged stock market investments is always greater than zero. This implies that in a sufficiently long interval of time, any unhedged investment in the stock market will be ruined. Therefore, unhedged investments in stocks are motivated by greed and wishful thinking as investors hope that that will sell for profit before the uncle point. Recent history proves this is not the case.
There is a new government in Greece that is trying to negotiate a reduction of Greek debt. This effort by the leftist government is based on the realization that the Greek debt is not sustainable. In this blog I examine some of the causes of Greek debt. If the causes of the debt are not removed, the same problems will emerge in the future, even after reduction.
There is a fierce debate in economics about involuntary unemployment. Neoclassical economists argue that all unemployment is voluntary and against Keynesians who accept involuntary unemployment. I argue that policies create involuntary unemployment and neoclassical model failure is an effect of that.
It is not very often that one reads a paper in the Philosophy Archives that makes sense because most of the stuff posted there are, in the best case, reiterations of old and worthless ideas, or in the worst case, the type of circular reasoning one has come to accept from a generation of scientists who spend taxpayer money on trying to prove that p ↔ p.
Modern theories of Economics make ontological clams. This post is about such claims that associate housing bubbles to expectation. The claims are metaphysical because they assume some form of causality. Any claim of causality, about anything, is metaphysical.
The ultimate dilemma is the proper balance between taxation and welfare. The core of economic ideology is based on it. The alternatives cover the whole spectrum, from no welfare at all to the extreme punishment of wealth and its redistribution. Economics will remain an ideology until this dilemma is resolved.
What is Economics? Let us be honest about it: Economics is covert political ideology that aims in enforcing society to behave according to its principles rather than in determining based on which principles economies work and agents interact. Why economists have not been honest about this? It is because that inherent in economics lies deception, i.e. economics is a deceiving subject by its very own nature and a lot of people that are involved with this subject, but not all, like it because of its deceiving qualities, which are tied to power and control.