A couple of days ago, I explained why markets should be viewed as living (complex adaptive) systems. It is important to understand that the ability of living systems to observe their own behavior makes it possible for them to change behavior. It is also important to understand that the discrete elements of living systems act … Continue reading Don’t Fix It, Let It Heal

Introduction When writing these articles, I try to abide by the principle of markets as complex adaptive systems (or living systems). Many people treat markets as mechanical systems, which denies the involvement of people in market interactions. Body Living systems have a couple of unique characteristics that separate them from mechanical systems. They are self-referencing … Continue reading Markets as Living Systems

On May 16, 2024, I published an article explaining why The Federal Reserve Bank does not create “money." They do create reserve balances denominated in dollars, but people cannot use those dollars as money, because banks hold them as reserves. Understanding the basics of how “money” is created is not just technical jargon. It's a … Continue reading Reserves Dollars & Money Dollars – Redux

The sight of ignorant protesters at colleges and universities across the country has reaffirmed for me the lack of value of the schooling (indoctrination) received by schools at all grade levels. You do not need an advanced degree to make a contribution to society. Instead of attempting to paraphrase the words of James Hillman, I … Continue reading Schooldays and Nightmares

Introduction We have recently heard loud cries about “saving our Democracy.” When someone confronts the people making these statements with the fact that we are supposed to have a republic, they grunt and move on. Instead of making a big deal out of the “republic” argument, let’s just concede that we do have some sort … Continue reading The Cry for Democracy

The Evidence In only the last few days, the country has seen the conviction of a former President and Presidential candidate on a series of charges held together by questionable facts and shallow reasoning. This single evident falls into a disturbing pattern of events that have one common purpose: to deny citizens the ability the … Continue reading A Structural Failure of Society