Paul Baumgart
@paulbaumg.art
I find myself mentally referencing this essay a lot recently harpers.org/archive/1941...
Who Goes Nazi?, by Dorothy Thompson
harpers.org
March 25, 2025 at 7:01 AM
I find myself mentally referencing this essay a lot recently harpers.org/archive/1941...
Seems like a good time to reread this one:
2/7
This is very worrying. US consumption spending seems to depend heavily on the creation of what Charles Munger described as "bezzle", expanding John Kenneth Galbraith's definition of the word to describe a temporary, unsustainable increase in wealth.
carnegieendowment.org/china-financ...
This is very worrying. US consumption spending seems to depend heavily on the creation of what Charles Munger described as "bezzle", expanding John Kenneth Galbraith's definition of the word to describe a temporary, unsustainable increase in wealth.
carnegieendowment.org/china-financ...
Why the Bezzle Matters to the Economy
The bezzle, a word coined in the 1950s by a Canadian-American economist, is the temporary gap between the perceived value of a portfolio of assets and its long-term economic value. Economies at times ...
carnegieendowment.org
February 24, 2025 at 7:40 AM
Seems like a good time to reread this one: