Capitalism, the dominant secular faith of our times, risks a reformation.
When it comes to making predictions, thinkers who are hedgehogs barely beat “dart-throwing chimps.” Despite that, hedgehogs hog the spotlight.
Real lovers of real markets must deal with their ills. It’s time we all were market realists.
Markets can move mountains. But we must guide their power, using empirical behaviors. They should serve us, not we them.