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[...] (You can see this everywhere you go: young middle-class people whose lives are beginning to disappoint them making too much noise in restaurants and clubs and wine bars. 'Look at me! I'm not as boring as you think I am! I know how to have fun!' Tragic. I'm glad I learned to stay home and sulk…

[...] I have read books like The Unbearable Lightness of Being and Love in the Time of Cholera, and understood them, I think (they were about girls, right?), but I don't like them very much; my all-time top favourite books are The Big Sleep by Raymond Chandler, Red Dragon by Thomas Harris, …

According to Keynes, this suboptimal up-and-down, occasionally with really high ups and really low downs, is how capitalism works. Its volatility is not a result of mismanagement or interference or workers' demand for "excessive" wages, but a part of how it functions "naturally". And, if the capita…

Keynes called this propensity to hold assets in money form "liquidity preference," "liquidity" being the ease with which an asset can be readily monetized, i.e., exchanged for money. So if "liquidity preference" is high, it suggests people feel insecure or uncertain

The idea that those relative prices can find a system-wide equilibrium is the heart of the neoclassical theory of value, a theory often called "Walrasian"