Category Archives: Economics

I ♥ the Sunk Cost Fallacy

The above picture was taken almost exactly 61 years ago in front of Hungary’s parliament building during the brief revolution against Communist rule. I don’t know who the people in the picture raising the old Hungarian flag atop a captured … Continue reading

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Hey, I wrote a book

No, it isn’t about food, travel, or human stupidity, though maybe I’ll get around to those subjects one of these days. It’s called Heads I Win, Tails I Win: Why Smart Investors Fail and How to Tilt the Odds in … Continue reading

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The Haves and the Have Mores

Make sure you’re sitting down when you read this. Ready? Here goes: In certain unknown corners of the world there is a “money-based caste system” in operation. Crazy, right? I read this in an interesting but somewhat tone-deaf front page … Continue reading

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Math Is Hard

Store clerk: “If you open up a store card today you’ll get 55% off of whatever you buy.” Me: “Awesome.” And so that’s how I went from buying a single pair of shoes to a whole bunch of stuff. At … Continue reading

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Warning, do not attempt

Just how litigious is American society? We’ve all heard the tale of the woman who put a steaming cup of coffee that she had just bought at a McDonald’s between her legs. Sustaining burns in her “pelvic region” when it … Continue reading

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Prius envy

If F. Scott Fitzgerald’s famous (and apocryphal) line that “the rich are different from you and me” were updated from Paris in the twenties to Hollywood today then Ernest Hemingway’s reply might have been” “Yes, they can afford to be … Continue reading

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