Graduation Speech by Nobel Laureate Thomas Sargent

[Londonproperty123]

Berkeley 2014 graduation speech.

Worth reading, very short speech with a lot of concise wisdom.

http://londonproperty123.blogspot.sg...-laureate.html

[phantom_opera]

thanks for sharing, this forum urgently needs contribution like this

[indomie]

Developed countries economy can only exist due to the existence of underdeveloped countries. The whole economy theories exist based on these premises.

There are more underdeveloped countries that support a few developed countries.

As the playing field is getting more level now due to transfer of technology and knowledge, there are less underdeveloped countries to support the developed nations.

Soon currencies will fail, gov bond will fail, gov pension funds will fail. Corporates will take over the role of gov. Some countries with a real business model will prosper. Some countries are in the process of handing over power to their corporations. That's why the interest rate is so low.