Tag Archives: society

Confidence is necessary for great civilisations to flourish. Do you hear those last echoes of Empire? This was filmed in 1969 but Kenneth Clark had grown up in another age—a time when Great Britain’s cultural superiority went unquestioned in many huts … Continue reading

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You think you want to be a scientist or an engineer. But be realistic — what do you, a teenager, know of science and engineering? You … applied to [MIT], not out of any sophisticated understanding of the choices you … Continue reading

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Baskets [of securities] form a vector space…. A portfolio is … an equivalence class of baskets containing assets in the same proportions.… [Since] parameters … depend on proportions … rather than … actual values,… portfolios form a projective space. Edward … Continue reading

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The moral code of our society is so demanding that no one can think, feel and act in a completely moral way…. Some people are so highly socialized that the attempt to think, feel and act morally imposes a severe … Continue reading

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Even the beneficiaries of hypertrophy have found it difficult to cope with extreme cultural change … they are sociobiologically equipped only for an earlier, simpler existence. Where the hunter-gatherer fills … one or two … roles out of … several … Continue reading

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The Point of Finance

The social end of finance, according to economists, is to make sure society’s money is going to the most worthy projects. In technical terms, to equalize the risk-adjusted return on capital across projects. (Of course, if “worthy” is measured solely … Continue reading

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