Smith and Kanye both understand that the markets are the primary method of sharing and appreciating the talents of the scorned entertainer. However, to simplify the market by removing “agreeable and beautiful” virtues, either for the purpose of depriving the market of virtue entirely or for the preservation of public virtue, is a fundamental misapplication of what a Smithian market is supposed to accomplish. Markets are not supposed to provide either orthodoxy or debauchery, but to carefully explore the ways in which a society, comprised of individuals with unique talents with rewards, can become more fully human.
Imagine what your life could be like if for any situation you could enjoy the upside without suffering any of the downside. Say you love the color yellow, but it totally washes out your skin tone. Or, perhaps you really want to Keep Up With The Kardashians but unfortunately there aren’t enough hours in the … Continue reading Ready To Risk It All Part I, Options Pricing
People are stupid—at least from the standpoint of economics. In general, people are fairly ignorant of much else outside of their bubble (myself included). Unsurprisingly, markets are one of the most misunderstood things on this planet. A market appears when buyers and sellers interact to exchange a specific good or service. This market may either … Continue reading You’ve Got the Power