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Monthly Archives: May 2015
Private Firm vs. Public Firm Earnings
Robin Hanson asks: Interesting that private firms have 67% of employees yet only 20% of profits. Is this mostly because owners take “profits” off the books to avoid taxes, or because owners attend more to growing firm value than to … Continue reading
Carpe Diem: The Problem of Scarcity and Abundance
Previously: Carpe Diem: The Optimization Game: Level 1 One of my goals with Carpe Diem was to illustrate the value of flexibility and optionality, and the surprisingly high cost of scarcity. A simple plan for playing the game is to … Continue reading
Don't Worry About the Vase 