Modern Monetary Theory is neither modern nor a theory. It’s a post hoc rationalization of politically expedient policy that makes us feel better about all the bad stuff we’ve done with money and debt in service to Team Elite.
And all the bad stuff we’re going to do in the future.
At the suggestion of one of our friends and subscribers, we wanted to provide what we think are some of the best launch points for exploration of the newly published Discovery Map. The only question: do you want to explore topics in depth or see the connections between them?
In this news cycle, if an issue sticks around for more than a week, you can be sure that it isn’t by accident. It’s because it represents an abstraction, and because those in influence like how that abstraction changes our behavior.
It’s easy to convince ourselves that the opposite of being narrative-driven is being data-driven. This is a lie. The most common way that narrative influences our behavior is through unadorned data, presented with the unstated implication that it is necessary, sufficient and explanatory.
When it comes to politics and social media, making up straw men about our enemies to make them look ridiculous seems like good entertainment. But beware embracing amusing-but-wrong cartoons in zero sum games.
Introducing the Epsilon Theory Discovery Map – a novel way to navigate the Epsilon Theory archives, not based on chronology or author, but based on connectivity, similarity and consistency in the underlying narratives.
We will be hosting our next Epsilon Theory Live Event at 2PM Eastern Time on January 15, 2019. ET Premium and ET Professional subscribers will be able to access the livestream through their ET Live link in the navigation bar.
We are living in a Golden Age of corporate management competence, driven by the adoption of process technologies and minimax regret strategies. That’s not going to stop in 2019, and it has major implications for your portfolio strategy.
Complex systems and uncertainty influence us to look for something – anything – to hang our hat on. The problem? We’re prone to hang our hats on extrapolations of the rare facts we can find, many of which have no explanatory power at the margin, where markets live and breathe.