Sublime
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But overall the profession does not excel at seeing trouble ahead and unlike engineering disciplines it doesn’t have a branch of forward-looking failure-mode analysis or of post-crash forensic analysis.
W. Brian Arthur • Complexity Economics: Proceedings of the Santa Fe Institute's 2019 Fall Symposium
Ethics classes have real impact; teaching businesspeople ethics make them more ethical. This study looks at changes to an exam for financial advisors and finds those who had more ethics training were 25% less likely to engage in misconduct & more likely to quit unethical firms. https://t.co/AQF059YnRO
The central relationship that money crystallizes is between lender and borrower.
Niall Ferguson • The Ascent of Money: A Financial History of the World: 10th Anniversary Edition
PSYCHOLOGY
Larry Trebesch
@larrytrebesch
Realizing the centrality and power of law for coding capital has important implications for understanding the political economy of capitalism.
Katharina Pistor • The Code of Capital: How the Law Creates Wealth and Inequality
A short-lived capital stock will manifest in accelerated depreciation and a fragile capital structure will incur an undue interest charge.
Sacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
cold-blooded need for control.