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The rational optimist6/25/2023 ![]() ![]() ![]() ![]() The earlier study simply had samples too small to find significant differences.īizarre as this may sound, in evolutionary terms it is quite normal. Rich people are happier than poor people rich countries have happier people than poor countries and people get happier as they get richer. Had I only known it, experiments in laboratories by the economist Vernon Smith and his colleagues have long confirmed that markets in goods and services for immediate consumption – haircuts and hamburgers – work so well that it is hard to design them so they fail to deliver efficiency and innovation while markets in assets are so automatically prone to bubbles and crashes that it is hard to design them so they work at all. ![]()
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