Econwising

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Economics is a humanitarian subject: it is just a collection and formalisation of human sense. But in order to make it useful, we have used maths to quantify what previously was thought to be unquantifiable, and this has brought many advances in the subject, both in terms of practicality, as well as theoretically, with the development of mathematical economics. One of the biggest dilemmas faced within the subject is to quantify the value of human life. Would looking at the amount people donate to save lives a good place to start to look at what the true value is?

One of the main breakthroughs in economics in recent years is the one of nudging, in the field of behavioural economics. This is just a fancy term for the process of presenting information in a different manner such that it influences the decision of the person concerned. So what are you waiting for?

Monetary policy is of course something you don't want to be joking around, especially when considering that it has the health of the whole economy at stake. However, it should be worthwhile for us to ask whether this kind of intervention is worthwhile, particularly now that we have seen there are many other possible weapons under our arsenal. 

It's been a while now since the last episode. I have been pretty busy here days so apologies for that. I came across a book which talks about stoicism: it's called "hot to think like a roman emperor". And this is why I bought something which I have learned by reading this book here: meditate malorium. This is man exercise to prepare your for the worst, so what are you waiting for?