I forgot to retrieve my bank card at an ATM at the Mexico City airport. A woman behind me in line walked up to the ATM and chose not to let me know about my card. Instead, within 30 minutes there were three fraudulent transactions on my card for items purchased at convenience stores near the airport. The amount charged was $120. My trust in others was diminished a bit after that incident. It got me wondering to what extent do individuals in different countries trust each other and is there a … [Read more...]
231: What Determines How Much You Make
Why how much you make depends on the occupation, the company, and the location. Photo by J.D. Stein In this episode you’ll learn: Why some occupations pay more than others.Why the same occupation pays different amounts in different countries.Why the same occupation pays different amounts at different companies within the same city. Show Notes Why Do Some Occupations Pay More than Others? Social Closure and Earnings Inequality in the United States - Kim A. Weeden - American … [Read more...]
142: Why Are Some Nations Wealthier Than Others?
Poor nations work harder than rich ones. Why then are they still poor? In this episode you'll learn: What is GDP per capita and why it is the best way to compare wealth between nations. What is purchasing power parity. How physical capital, labor and total factor productivity contribute to economic growth. Why the mix of economic sectors impacts the wealth of a nation. How exponential growth leads to a radically unpredictable economy. Show Notes OECD Average … [Read more...]
141: The Universal Law You Need To Overcome To Thrive
How to overcome the second law of thermodynamics in investing and living. In this episode you'll learn: Why disorder and chaos is more common than order. How investing with index funds and ETFs helps combat disorder. Why poverty is more common than wealth. Why we must act to combine the utilitarian with the beautiful. Show Notes The Second Law of Thermodynamics - Steven Pinker - Edge Neanderthals Were People Too - Jon Mooallem - New York Times Just 8 Men Own … [Read more...]
