It’s one thing to know what makes people happy, but quite another to live a happy life oneself. I didn’t get a true taste of happiness until I quit my decade-long career as a happiness academic, packed all I’d need for many months onto a bicycle, and began meandering my way around the world to […]
Economists have misunderstood a key indicator – and it’s a big problem
In studies, forecasts and recommendations to governments, markets are seen as capable of processing so-called rational information. Economists claim that firms’ market prices result from rational expectation about their future monetary flows and intangible assets not accounted by bookkeeping, which, however, would enable those future monetary flows to occur. It is quite difficult to find […]