Stiglitz understands everything about economics except for tail risks: like knowing everything about flight safety except for crashes. - Nassim Nicholas Taleb

The world as a whole has never been richer, and it has never been more heavily in debt, living off borrowed money. The record shows that, for society, the richer we become, the harder it get to live within our means. Abundance is harder for us to handle than scarcity.

The IYI subscribes to The New Yorker, a journal designed so philistines can learn to fake a conversation about evolution, neurosomething, cognitive biases, and quantum mechanics.

Without skin in the game: Smart drug dealers become pharmacopsychiatrists; smart astrologists become economists; smart serial killers write for the Wash Post; smart bullshitters become "experimental" psychologists; and smart bankrobbers become bankers.