At an event to celebrate George Kennan in 1994 on the eve of his 90th birthday, the diplomat credited with the strategy of containment that guided US policy towards the former Soviet Union said it had resulted in âone of the great disappointments of my life.” Kennan was saddened that containment had extracted costs too…
As Justyn Walsh writes in Investing with Keynes: âKeynesâ most famous example of the âfallacy of compositionâ was the so-called Paradox of Thriftâwhich notes that saving is good for the individual, but if all individuals increase their savings then aggregate demand will fall, eventually leading to lower savings for the population as a whole.” Also…
Since 2021, the government of Japan, a hard-working nation, has supported a shorter workweek. At least 54 âdeaths from overwork,” including heart attacks, occur in Japan annually. According to Dutch author and journalist Rutger Bregmanâs 2016 article in The Guardian, titled âThe solution to (nearly) everything: working less,â cutting back on work hours will improve…
