Why uncertainty and failure is necessary for a functioning economy and why Cuba is embracing both in its struggle to reform its economy. Photo by J.D. Stein In this episode you'll learn: Why the Cuba economy is struggling.Why Cuba is experiencing inflation.What is Cuba's largest export.What Cuba is doing to reform its economy.Why you need uncertainty for a functioning economy.What are the qualities of a complex system . Show Notes In a reversal, Cuba tries price … [Read more...]
87: Is This Normal?
How long-term trends in inflation, stocks and climate changed are hidden by short-term countertrends, creeping normalcy and myriad moving parts. Photo by J.D. Stein In this episode you'll learn: How inflation leads to a decline in real wealth.Why it is difficult to detect inflation trends.What is creeping normalcy.What causes climate change.Why science is messy.What can individuals do to combat global warming. Show Notes Collapse by Jared Diamond Supermodels - … [Read more...]
2: What Causes Inflation and Deflation?
Inflation is caused when there is too much money flowing through the economy relative to the amount of goods and services being produced, leading to a jump in prices. Photo by runrun Inflation is similar to how athletes experience unpleasant side effects when they run faster than their aerobic capacity. When too much money chases capacity-constrained goods, services, and workers, it leads to a rise in overall prices. Conversely, deflation, or an overall decline in prices, can occur … [Read more...]