On the "greater fool" strategy and common knowledge. More on this in my new book: When Everyone Knows That Everyone Knows . . . Common Knowledge and the Mysteries of Money, Power, and Everyday Life: https://bit.ly/3FgucEQ "In ordinary investing, you buy a share of a company because the company sells something at a profit, and you hope to take a share of that profit. In speculative investing, you buy it not because of the profit of the company, but because you hope that you can unload the shares

Last week, I testified to the Science and Research Committee, House of Commons, Parliament of Canada. Here @Tony_Baldinelli asks me about DEI. "Various universities require so-called diversity statements, in which an applicant for a professorship has to basically endorse the policies of DEI, including racial preferences, and has to endorse the critical social justice theory as to why there are racial disparities. I've had students who've had ChatGPT write their diversity statements because they

“When coordination works, everybody wins” – Listen to an excerpt from my audiobook When Everyone Knows That Everyone Knows…to unpack how common knowledge is necessary for coordination. Pick up your copy from @simonaudio: https://bit.ly/4gxl0bD "But the evolution of mutualistic coordination is by no means boring. It raises another daunting evolutionary puzzle with a different but equally fecund explanation. Life is filled with opportunities to coordinate with other people for mutual gain. We agre

In language, most of what we say isn't exactly what we mean. People say things like, if you could pass the salt, that would be awesome. And that's not literally what they mean. They mean, give me the salt. | Steven Pinker