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Thought experiment time. Suppose that you were the leader of a party whose voters consist of the elderly and middle-class families. Both groups are literally or figuratively dying out, and the birth rate among the latter is not sufficient to produce a burgeoning generation of future voters. Which policies would you adopt to deal with the above?
Toggle Commented Mar 18, 2014 on "Subsidizing" childcare at Stumbling and Mumbling
Tragedy is alpha plus time.
Toggle Commented Dec 4, 2013 on Profits and tail risk at Stumbling and Mumbling
I've always seen the managed funds market (and stakeholder pensions for that matter!) as a sort of feudal sharecropping. The people in the 60th percentile and above willfully handing their money over to those in the 99th percentile. My question, then, is why haven't we seen more competition in this market? Fund supermarkets like Fidelity and Hargreaves Lansdown put barriers up for small-time investors such that funds are the "least bad" use of their money, and these habits are likely to persist many years down the line. The little guy, as ever, is denied a piece of the action.
Toggle Commented Jul 19, 2013 on On not seeing luck at Stumbling and Mumbling
I work at a UK site for a large German corporation, and for a few years now our bonus scheme has been based on the whole site's profitability, with a flat bonus for every permanent staff member. I've always liked the idea of a flat bonus as it gives the lowest paid members of staff the biggest incentive, rather than disproportionately rewarding managers for the labour of their hires. I've often thought that, further to this, I'd be happy to sacrifice a good proportion of my basic pay (say, 20%) if I could have twice that amount as a discretionary bonus. If my team and I all knew that our efforts would affect each other's pay to that extent, I think it would serve as one hell of a motivator! Maybe I just trust people too much?
I guess Chuck Palahniuk had it right when he described modern conversation as people "waiting for their turn to speak".
Toggle Commented Jul 26, 2010 on how not to be a bore at Marbury
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Jul 26, 2010