By Michael Lewitt
Excerpted from The Credit Strategist
February 1, 2017
" The fundamental ontological error has been to model the economy as a relatively simple machine, whose properties can thus be known and controlled by its policy operator. In reality, it is an evolving system, too complex to be either well understood or closely controlled. Moreover, it is a system in which stocks and 'imbalances' build up over time in response to monetary stimulus. This really makes future prospects totally path dependent, and we are on a bad path."
Complex systems are also self-adaptive, which means they are capable of adjusting to changing conditions. But these adjustments are often sudden and violent and systems don't return to their previous state, leaving those trying to manage them with a new reality for which old models and modes of thinking are inadequate.
Tuesday, May 22, 2018
Thursday, December 23, 2010
UNITY of purpose - not to generate returns per unit of risk but to Fund the Capital Projects and organic growth of the Uninersity - Forgot their purpose - and look at what happened - the True Cost is Unkown - wealth Management and the Origin of Wealth..
Posted by MainandWall™ at 9:39 AM
Tuesday, December 14, 2010
Friday, October 22, 2010
It's about building systems (units) that can evolve on their own.Enterprise reat a car..And the creating the culture that allows and forsters that -toward a common purpose - value to the front end - because in the end that is what you are charging for that is your brand - product - your alpha. Then getting them to complent each other to make the whole greater than the sum of the parts.
Posted by MainandWall™ at 10:51 AM