Showing posts with the label The Map and the Territory

Book Review: Alan Greenspan’s The Map and the Territory

Alan Greenspan’s book The Map and the Territory-Risk, Human Nature, and the Future of Forecasting delves into the intricate nature of the economy and his life lessons on economic management. He discusses the nature of human decision-making as animal spirits, how uncertainty impacts choice, productivity as a measure of performance, and the advent of globalization. The book provides a general overview of the nature of the economic systems and the knowledge he has accumulated from it. For those who are in higher education they will appreciate the section on Education’s Gini. In the old days, professors worked with a few hundred students but online education is about to make the super professor. These are the professors that reach out and touch thousands of students at one time. The industry is in the process of making its way into the mainstream and developing new technology. Of course, the age old problem of variability in human behavior has not been resolved. Alan Greenspa