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Leonard Pokrovski

hat ein neuen Blog hinzugefügt Economics
2026-05-18 20:35:30 -

How is economic performance measured?
How Is Economic Performance Measured? There is a peculiar superstition at the heart of modern economics. Entire governments, central banks, universities, and media organizations have convinced themselves that a nation can be understood through a handful of aggregates produced by bureaucratic agencies with seasonal adjustments and statistical smoothing. Every quarter, traders stare at screens...

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Michael Pokrovski

hat ein neuen Blog hinzugefügt Erfolg
2026-09-09 18:34:30 -

What are the signs of financial success?
The Fake Signposts That Lead Smart People Straight to the Poorhouse My poor dad pointed out the window of our sedan at a brand-new luxury European sedan parked in front of a sprawling, multi-million-dollar suburban estate. "Look at that, son," he whispered with genuine reverence. "That is what success looks like. Hard work, beautiful possessions, and a credit rating that commands respect."...

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Leonard Pokrovski

hat ein neuen Blog hinzugefügt Economics
2026-05-18 21:06:55 -

What does it mean when the economy is strong?
What Does It Mean When the Economy Is Strong? There is a peculiar habit among modern economists: they speak of “the economy” as if it were a machine in a basement somewhere, humming quietly beneath civilization, managed by committees armed with spreadsheets and interest-rate models. When the machine emits pleasant noises, they announce that the economy is “strong.” When...

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