Professor Mark J. Perry's Blog for Economics and Finance
No drug, not even alcohol, causes the fundamental ills of society. If we're looking for the source of our troubles, we shouldn't test people for drugs, we should test them for stupidity, ignorance, greed and love of power.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
7 Comments:
Hello Mark, I recently read your article on Seeking Alpha.com in regards to Index funds outperforming Actively managed mutual funds. Please take a look at my firm's website www.revenuesharesetfs.com
In the past few months we rolled out 3 ETFs, RWL, RWK, and RWJ where we take existing indexes and rank them according to revenues of the member companies instead of market cap. Over time, the numbers have shown us that we can outperform the indexes with less risk. I figured this would be of itnerest to you. Thank you.
P.W.
Would that be 4 separate tests, or one big one that included all 4 categories equally? Either way, a grade of 75% or more would be difficult!
we shouldn't test people for drugs, we should test them for stupidity, ignorance, greed and love of power.
...and then?
Bob Hope was the best.
Live From Las Vegas
The Masked Millionaire
Must concur, Masked Millionaire,
Easy to see which one is the better humorist. You have to like people to be a really good comedian.
"...we shouldn't test people for drugs, we should test them for stupidity, ignorance, greed and love of power"
Greed is often one of the main driving forces behind innovation and progress.
Greed is not necessarily bad.
Can we modify the test to detect bad greed from good greed?
> Greed is often one of the main driving forces behind innovation and progress.
> Greed is not necessarily bad.
> Can we modify the test to detect bad greed from good greed?
I concur. I've noticed this about most of the "Seven Deadly Sins"... They are only bad or deadly in significant quantity. In small doses, they often have good affects --
Pride can be one of the reasons why a person does not commit crimes -- too proud to drag their name, family, or friends through the dirt.
Envy, like greed can be a good thing, as it can spur people to work harder to obtain more. As long as it remains under control, it can be an impetus to strive harder.
In quantity, they are certainly bad, but where would we all be if no one ever got Angry at an injustice? Where would we be if we never felt any Lust for our Significant Others? And how many time-saving inventions would exist if no one ever felt Lazy?
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