Savings and index fund investing. I have an automatic bank transfer to my broker account every month and then I'm using Interactive Brokers API in a script that buys global equities index ETF.
66 karma · joined April 17, 2014
Professionally: Peter F. Drucker's books.
Personally: "Meditations" by Marcus Aurelius, "A Treatise of Human Nature" by David Hume, "The Law" by Frédéric Bastiat, "Autobiography" by Benjamin Franklin, "Common Sense" by Thomas Paine, "Gespräche mit Goethe" by Johann Peter Eckermann, "The Old Regime and the Revolution" Alexis de Tocqueville, "On Liberty" by John Stuart Mill, "The Man Versus the State" by Herbert Spencer, "The Revolt of the Masses" by José Ortega y Gasset, "The Logic of Scientific Discovery" by Karl Popper, "On Power" Bertrand de Jouvenel, "1984" by George Orwell, "The State" by Anthony de Jasay, "Sketched With the Quill" by Andrzej Bobkowski, "Metaphysical Horror" by Leszek Kolakowski, "Rationality in Economics" by Vernon L. Smith, "The Machinery of Freedom" by David Friedman.
Look for instance these two articles: http://www.wsj.com/articles/SB100014240527023039195045775226... https://mises.org/library/politics-johann-wolfgang-goethe
Lack of privatization in Post-Soviet states lead to massive human suffering. In Poland the government constantly subsidies all companies that weren't privitzed in 90s. What's worse quality of products and services in these industries is terrible. That's why for instance electricity in Poland is one of the most expensive in Europe. And it is impossible to change anything because all these companies are highly unionized and have huge political influences during elections.
Little state ownership may work fine in countries that has different culture in rest of the economy has been capitalistic for last 200 years. In Post-Soviet world it is disastrous. Look at Russia for intance - Gazprom and other state companies were overtaken by the Putin's mafia.
PS. Yes, there was huge shortage of toilet paper in Poland during 80's. Huge! My family was standing in the queues for 2-3h to get it.
Me too! I'm from Poland. And that's why I'm so sick of all those inteligentsia do-gooders who want to impose their own preferences on everybody else because they know better and this legitimizes them to orchestrate the society.
"Contrary to the author's claim that the rich are getting richer, not due to underlying economic trends, but by using their power and influence to enrich themselves, I have in this column more than once suggested that the real reason is the enormous expansion of the world supply of unskilled and semi-skilled labour brought about by falling transport costs and trade barriers. With globalization, a billion or more rural people in Asia could be recruited into the urban industrial sector and produce the tradeable goods that undersell the goods hitherto produced in the United States and Europe. Until this new Asian labour is wholly absorbed and its wages rise to Western levels, U.S. and European unskilled wages will remain depressed and the share of profits in value added will rise. Ironically, while this sharpens inequality in the West, it promotes equality on a world scale as Asian and eventually also African peoples are lifted out of misery." http://www.econlib.org/library/Columns/y2012/Jasayinequality...
+ Even if there exits market failures, we don't want to replace them with government failures, which are usually even worse.