Do we have the capability to eliminate booms and busts in economic activity? The answer in my judgment is no, because there is no tool to change human nature. Too often people are prone to recurring bouts of optimism and pessimism.
May 28, 2019
For all the presumed sophistication of Wall Street investment banking firms, I have yet to see a mention of a simple financial law. The law states the faster a company grows, the harder it is to maintain the same percentage of growth. We now have dozens of “unicorn” companies (billion dollar valuations) ready to go public. Many are 10 ...