Pragmatic Capitalism

Practical Views on Money, Finance & Life

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The Impractical Economics of Bernie Sanders


Extremist views don’t mesh well with economics.  While they often sound good in theory they don’t work well in practice.  This was the crux of much of my criticism of the Republican debates last week (see my comments on the gold standard and Rand Paul’s views).  Unfortunately, some of the same (well, very different actually) extremist… Read More

A Useful Wall Street Dictionary

I just finished reading Jason Zweig’s new book “The Devil’s Financial Dictionary” and boy is it good.  If you’ve ever been overwhelmed by all the jargon used in finance and economics then this is right up your alley.  Jason offers up a witty, brilliant and most importantly, useful collection of honest definitions.  It’s a collection… Read More

How Will the Fed Raise Rates?


A Federal Reserve rate hike is very likely to occur before the end of the year or in Q1.  But many are still unclear about how the Federal Reserve will raise rates.  After all, we’re in a new monetary environment in the post-crisis period thanks to the size of the Fed’s balance sheet.  I’ll try… Read More

Why Do We Study Macro Finance and Econ?


The study of macro is about big things.  Really big things.  I can only speak from personal experience, but I don’t spend most of my time thinking about money, investing and economics (for fear of death by boredom, I hope you are the same).  I spend most of my time thinking about really big things.… Read More

Three Multi-Temporal Problems within Capitalism’s Victory

The biggest threat to capitalism is capitalists.  After all, capitalists are monopolists.  And monopolists are antithetical to broader prosperity because they give the monopolist an unfair pricing power over their consumers which often leads to social unrest. We need look no further than the recent case of Martin Shkreli to see how this plays out… Read More