I mean, it’s elementary math tbh. When civilizations collapse and the angry, hungry hordes go burning the countryside, the rich are especially unsafe. Our own wealthy know this, which is why they’re building bunkers in NZ. This confounds me, frankly. They know that the world they’re creating is going to blow up and try to kill them, so maybe, idk, stop creating that particular world instead of actively choosing to live out the rest of your days in a well-adorned hole as your wealth converges towards zero because you managed to blow up every functioning society that recognizes property rights and currency? Is next quarter’s line going up a bit faster really more important than not putting yourself in a situation where you have to convince your security team to wear explosive collars?
Is next quarter’s line going up a bit faster really more important than not putting yourself in a situation where you have to convince your security team to wear explosive collars?
He also talks about changing how executive incentives work to encourage a longer term outlook and to account for the externalities that their companies/decisions create. Making sure those corporate decision makers have much more personal “skin in the game”.
That is another repeated theme in Carney’s book
I mean, it’s elementary math tbh. When civilizations collapse and the angry, hungry hordes go burning the countryside, the rich are especially unsafe. Our own wealthy know this, which is why they’re building bunkers in NZ. This confounds me, frankly. They know that the world they’re creating is going to blow up and try to kill them, so maybe, idk, stop creating that particular world instead of actively choosing to live out the rest of your days in a well-adorned hole as your wealth converges towards zero because you managed to blow up every functioning society that recognizes property rights and currency? Is next quarter’s line going up a bit faster really more important than not putting yourself in a situation where you have to convince your security team to wear explosive collars?
He also talks about changing how executive incentives work to encourage a longer term outlook and to account for the externalities that their companies/decisions create. Making sure those corporate decision makers have much more personal “skin in the game”.