It is not because natural resources are finite that humanity will ever run out. Reverend Thomas Malthus’ warning in the latter parts of the 18th century on our planet’s inability to produce enough food to feed an ever-growing population has never materialised into a genuine concern. Nor has the US Bureau of Mines’ 1914 prediction that “The world will run out of oil in 10 … Continue reading Natural Resources: The Never-Ending Supply
Reinhard Selten, 1994 Nobel prize and founding father of experimental economics, predicted that individuals wouldn’t play the conventional Nash Equilibrium in the Ultimatum Game, better known as a take-it-or-leave-it offer. This was proven to be accurate when his student Werner Güth showed this supposedly irrational behaviour in his 1982 experiments. In game theory a Nash Equilibrium is a scenario where neither player would benefit from … Continue reading The Rationality of Irrationality
“A reminder that the virus does not discriminate, we are all at risk.” These were the words UK Cabinet Office minister Michael Gove presented to the public when Prime Minister Boris Johnson tested positive for coronavirus. Covid-19 may not discriminate but it certainly impacts individuals, companies, and countries differently, for better or worse. Despite the unrelenting news about suffering and hardships as countries struggle to … Continue reading The Hyper-Digitalisation of Covid-19
In 2008 the first cryptocurrency Bitcoin was launched. While still providing a means for exchanges and the store of value, cryptocurrencies have the distinct advantage of being decentralised as opposed to the more typical fiat currencies (e.g. the US Dollar) which rely on banks and governments to declare it legal tender and maintain its value. However, Bitcoin has the advantage of cutting out the ‘middle-man’ … Continue reading The Bitcoin Bubble
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