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Tag: hyperinflation

Friedrich August Von Hayek

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In his Nobel Prize speech, Friedrich Hayek asserted that, “… I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it. It is that the Nobel Prize confers on an individual an authority which in economics no man ought to possess.”

Inflation: when the money dies

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  Consider country X as a fictional country. The economy of this country has all the characteristics of a normal economy: Markets trade goods, individuals take part in financial affairs and institutions…

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  • Amos Tversky
  • Daniel Kahneman
  • cognitive bias
  • Milton Friedman
  • Wealth of Nations
  • Nobel Prize Laureate
  • Adam Smith
  • 20:20 ratio
  • law of small numbers
  • the halo effect
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  • income inequality
  • Law of Large Numbers
  • Dow Jones Industrial Average
  • status quo bias
  • Behavioral Economics
  • daniel kahnemann
  • hyperinflation
  • the gambler's fallacy
  • gambler's fallacy
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