The Principles for Dealing with the Changing World Order – 5 Minute Version

2026-01-22

Here are my thoughts from this year’s World Economic Forum. If you’re interested in understanding more about how the world order is changing and what it all means, you can sign up for my newsletter at the link below:

https://economicprinciples.org/subscribe

2025-12-02

This year, I’d encourage you to consider a unique kind of holiday gift — a donation your friends and family can give to the charity of their choice. This kind of gift is far more meaningful, and it’s simple. Anyone can do it.

If you’re interested, check out organizations like TisBest and @donorschooseorg .

I think gifts like these are more in keeping with what the holiday season is really about, so I wanted to pass it along. #redefinegifting #givingtuesday

2025-11-06

History shows us that having too much debt during an economic downturn leads to a classic, self-reinforcing cycle where:

1) The empire can no longer borrow the money to repay its debts
2) It prints a lot of new money, which devalues the currency and raises inflation
3) Living standards decline, leading to the rise of political extremism
4) Turbulent economic conditions undermine productivity and there is conflict about how to divide the shrinking resources
5) Populist leaders emerge pledging to take control and bring about order

2025-11-03

My first real job was caddying, and it changed my life.

It was the 1960s, and the people I was caddying for were always talking about the stock market.

So, I took my caddying money and bought Northeast Airlines because it was the only company I had heard of that was selling for less than $5 a share.

Little did I know, but the stock was so cheap because they were about to go broke. But I got lucky and they got acquired, so I tripled my money.

And just like that, I was hooked.

2025-09-09

There are smart tariffs and there are not smart tariffs.

Every type of tax, tariffs included, has pros and cons. Done well, tariffs can provide a source of revenue while simultaneously reducing geopolitical risk.

But to be effective, they need to be engineered prudently, efficiently, and surgically.