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riskneural

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This is where the EU view of a company having its customers, its shareholders, and its employees as stakeholders all having rights makes a difference. If your view is shareholder primacy, that only the shareholder matters, then you end up with a very different system.

Do we really all need to live as if we were in the military? Don't people go to war so others can live in peace?

It's in the original paper in which he derives the normal distribution. Well worth a read. I last had a copy of it in the fourth basement down in the university library about fifteen years ago - it might be still there.

Adam Smith's five reasons to get paid more:

1. Skill. Over the long run, jobs that require higher skill will attract higher wages, or else people won't bother to spend the costs acquire the skills for the job.

2. Accountability. All equal, you'll take the job without personal consequences when things go bad.

3. Wholesomeness. Undertakers get paid more. Butchers get paid more than bakers. If it sounds cool at a party, expect to get paid less. Supply and demand.

4. Job security. Essentially, you need a higher wage for an unstable job than a stable job. Risk premium.

5. Physical danger. Yes, a lumberjack will get more danger money than a programmer. However, you'll demand a higher wage for a programming job with crazy hours and the only food in the building is a snack machine with cinnamon buns which have no expiry dates.

I still remember too. 28 days? I was easily off-grid for 28 days.

At the moment, we are heavily focusing on "exit strategies" for outsourcing agreements in regulated industries. Banking is leading the way, followed by insurance, but it's hard not to recommend to any CRO in a company with business to lose.

Adam Smith makes the argument well in A Wealth of Nations. Essentially, the only reason to invest is that you expect to earn something above on top of the risk. Then add that up over everybody in the system. They cannot all get something extra, unless there is growth. That growth is spread over everybody as return on investment. So, if there is no growth, then investment stops earning that extra, so there no point in investment, so nobody hires anybody or builds new machines.

Importantly, it's growth in total value, not growth in number of things. Hence, it's okay that growth is infinite without gobbling up the universe - we can always be better. Stuff can always be sexier.

Facebook at Work 10 years ago

I live in Germany. My facebook is most certainly not a free speech zone. Forums aren't even free speech zones.

Negative risk free rates were theoretically possible, but thought at the time to be stupid. See for example the development of the Cox Ingersoll Ross model, "The standard deviation factor, \sigma \sqrt{r_t}, avoids the possibility of negative interest rates for all positive values of a and b."

Many interest rate models had been in the past either criticised for theoeretically allowing negative rates, or specially developed to avoid them.

https://en.wikipedia.org/wiki/Cox%E2%80%93Ingersoll%E2%80%93...