the distinguishing characteristic is that under some circumstances it makes sense to take risks not that have high volatility compensated by high expected value, but risks that have negative expected value compensated by long right tails, ie the “risk” compensates expected loss. 2/

As soon as politicians stop enforcing norms things can unravel very, very quickly. Currently the Starmer legacy based off the last six months of total capitulation and ceding of ground, bar one decent speech in September.

Yeah my gut is that this is the story (and was also the political economy for Osborne raising it so much in the first place)

Nothing makes me more grateful for the Julia package manager than the one time every few months I try and do anything involving a "venv"