Apr 122008

Crash-free No Longer In a recent post, I discussed the current problems re sub-prime mortgages and the credit crunch in connection with ignorance in high finance and in general. The complex entities that are investment banks, which were supposedly highly knowledgeable as organizations, actually were quite in the dark, quite ignorant in fact, when it came to the mortgage problems. I argued that someone has to be knowledgeable and interested for a problem to be […]

Feb 192008

This is supposed to be the era of knowledge. Yet I think we should be increasingly worried that it is in fact even more the era of ignorance. The two are in some ways complementary. An expert has long been known, at least by cynics, as someone who “knows more and more about less and less.” That means that even experts — as well as the rest of us — also know less and less […]