Since all of us have better things to do, we asked our robot intern Watson to find this week’s most interesting news stories and compile them into a short list for your convenience. Here’s what he came up with.
Stress Best, from The Economist
The Economist takes a look at Antifragile: Things that Gain from Disorder by Nassim Nicholas Taleb, a book that argues that the best way to deal with uncertainty is not to attempt to minimize it, but rather to put yourself in a position to benefit from shocks as they happen. Lowering interest rates at the first sign of weakness, writes Taleb, allows risk to accumulate until a major disaster occurs.
The Weird Coalition Sounding the Alarm on Global Warming, by David Wagner
Several new reports on climate change were released recently, their predictions including a near-unavoidable 4° C rise, a temperature increase of 6° by the end of the century, and “consequences that exceed the capacity of the affected societies”. Well, who’s behind these alarmist headlines? Greenpeace and the WWF? Try again – this is straight from the World Bank, PricewaterhouseCoopers and the CIA.
The Austrian Miracle, by Dardis McNamee
“What’s the secret of Austria’s singular success, while the rest of Europe’s economies founder?” this article begins. Well, good to know other countries still want to be like us, while we wish we were Scandinavia or something. Now if only it could be a little warmer, year-round…oh, wait, that’s actually probably going to happen.
Monetary Policy: Making Better Institutions, in America and Europe, by Free Exchange at The Economist
A fascinating round-up of the issues discussed at Cato’s 30th annual Monetary Conference, with insights into what is going on in the minds of policymakers in the area of central banking on both sides of the Atlantic.