Author Archives: econreality

When evidence goes wrong

There are two competing theories about financial markets: 1. Luck determines who wins and who loses in financial markets. 2. A skilled investor can expect to beat the market consistently.     Which of the following provides evidence in this … Continue reading

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On Inequality

When we talk about income over time, we recognize that it has two components. First, how much do people earn today compared to the past? Second, how much is that money worth in material (“utility”) terms? In other words, if my income … Continue reading

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