Sublime

A related doctrine known as Goodhart’s law, after the London School of Economics professor who proposed it,38 holds that once policy makers begin to target a particular variable, it may begin to lose its value as an economic indicator. For instance, if the government artificially takes steps to inflate housing prices, they might…

Some highlights hav

prices convey the minimal possible information necessary for economic agents to purposefully react. They do so with judgment and heuristics, not “perfect information,”

reasonable people have difficulty in conceiving and understanding unreasonable behaviour.

Third, we are fearful creatures and go to great lengths to preserve a sense of certainty, even when we know it to be false.

Confirmation bias

And they are instantiated as a distributed processing system on human beings. They don’t particularly care about human beings. Their motives are inscrutable, to the extent that they have any, except that they’d like to get bigger. They’ve run on people. They’re implemented on people. But they are not people. They are not persons in any meaningful s

Present bias

Economics, which was becoming an ever more abstruse science, producing mathematical treatises with no obvious use,

deleterious