Epstein Secrets

covering payments in the downswings. That would be a problem if accounts yielded zero return, as checkable bank deposits do. The gist of my answer to Milton Friedman was that no amount of money is too much if it yields as much return as other assets of equal risk. Accounts are hedged or leveraged to do so. Omnibus

ccess” RS, which simplifies V(x) to expected remaining offspring, is implicitly constant at the population scale unless there is population growth (Fisher’s “Malthusian parameter”). For creatures other than us, the Chapter 7 Petty’s Idea 2/3/16 4 HOUSE_OVERSIGHT_011063 parameter typically fluctuates

maternal generation length in recent decades, by that method, has run near 26 years over recent decades. If fathers are five years older on average, Fisher’s method would arrive at 28.5 years. Rogers found 28.9 years from other sources. Then (7.6) would give cash flow rate = i. 3.5% /year. (7.7) 28.5 y

a form of income redistribution, Friedman's ideas suffer from needing continuous flows. I believe my own proposals achieve the same aims of those of Milton Friedman, at much less cost. I would ask that readers consider these proposals to be more neo—Friedmanite than neo- Marxian. If, however, my ideas are incor

mishandling of credit availability. In parallel with this Minsky, coming primarily from the post-Keynesian school, but also following the work of Fisher, has also studied the build up of economic cycles, though with the blame being primarily placed with speculation and the unsustainable endogenous cr

hat this debt can be expanded indefinitely is to undermine the most important value this debt has; that of security. In similar vein I find much of Milton Friedman's monetary theory terrifyingly naive. However I have found the blogging of 'kitchen-sink' monetarists such as Simon Ward [Ward] and John Hussman [Hus

money • fractional reserve banking • speculators • Ponzi finance • debt deflation or other common elements of the Austrian school or the work of Fisher and Minsky. 110 EFTA00625238 Debt, in the form of a negative cash balance, certainly does appear in the cyclical and explosive models. But model

a window. To lighten the mood, | said something about the Red Sox. He said “Getty, I getta papers on banka reform every week. Yours isa the best.” Milton Friedman, another nobelist, had a different take. We had given talks ata Cato Foundation symposium in San Francisco. He hated my idea. No great surprise. He h

Frank Knight revived both ideas in the early 20" century. The tempo picked up after World War IJ at the University of Chicago. Jacob Mincer rederived Fisher’s present value equation in 1958, and modeled investment in human capital through job training. Nobelists Theodore Schultz and Gary Becker soon joine