Very well said Daniel. And congrats for having to courage to defend your (correct) convictions against the crowd! You and your books definitely are a source of inspiration. Cheers. Olivier
"It is a funny sort of "success" that requires you to part w/your investment." I laughed out loud.
It's a bit like selling your beloved house. You love the house. It's served you well. Then someone offers you a really sweet price. You're kinda greedy. So you sell it and you get a big payout. BUT THEN YOU HAVE NO PLACE TO LIVE. Okay, you can buy another house with your cash and move. The academic economists would call this a "cost." Ordinary people would call it a fucking hassle.
I deeply concur that it is philosophy, and yet also a matter of finance, once a certain philosophical point about economics in general is understood, IMO.
To wit, economics is usually treated as the study of choices in things and tangible deeds (services usually). But those are just cases o 'utility', not unlike Keynes' cite of 'good life.'. The commonly accepted currency in finance has become money, in its accounting entry sense, so that the increase in that measure overrides the mode of payout and the associated behaviors and non-'money' outcomes. A diff look, i.e. at business ownership and at cash vs cap gains, re incorporates some of the wider sense of utility, as i see it
Hope I said that right. But I deeply appreciate TOD. Thanks
Very well said Daniel. And congrats for having to courage to defend your (correct) convictions against the crowd! You and your books definitely are a source of inspiration. Cheers. Olivier
"It is a funny sort of "success" that requires you to part w/your investment." I laughed out loud.
It's a bit like selling your beloved house. You love the house. It's served you well. Then someone offers you a really sweet price. You're kinda greedy. So you sell it and you get a big payout. BUT THEN YOU HAVE NO PLACE TO LIVE. Okay, you can buy another house with your cash and move. The academic economists would call this a "cost." Ordinary people would call it a fucking hassle.
Keep up the fight, Daniel!
Thanks!
I deeply concur that it is philosophy, and yet also a matter of finance, once a certain philosophical point about economics in general is understood, IMO.
To wit, economics is usually treated as the study of choices in things and tangible deeds (services usually). But those are just cases o 'utility', not unlike Keynes' cite of 'good life.'. The commonly accepted currency in finance has become money, in its accounting entry sense, so that the increase in that measure overrides the mode of payout and the associated behaviors and non-'money' outcomes. A diff look, i.e. at business ownership and at cash vs cap gains, re incorporates some of the wider sense of utility, as i see it
Hope I said that right. But I deeply appreciate TOD. Thanks