Lessons learned over my career:

  1. Economics is rooted in the theory of value not the theory of financial profit.
  2. Rules are made to address issues including safety, health and fair competition. Respect and understand why it was made before rescinding it.
  3. Be aware that the finest advice based on the best conceptual framework can and probably will be be twisted to serve other objectives.
  4. You are never the smartest person in the room or on the Zoom.
  5. Social political choices matter. Advancement and progress is earned not given. Argentina, amongst the richest advanced countries in the early twentieth century, failed to meet its challenges and has fallen to an unstable middle-come income country.

Recent posts

wisdom for this month

James Graham on the lingering and as yet unresolved effect of the 2008 global Financial Crisis (Reuters digital July 17, 2025)

…We’d been promised that this was the end of history and that everything was inevitably going to be a linear advancement towards progress and improvement. … I had no idea the longer, bigger crises and anger that was going to be coming down the line.