Mike D. Becomes

A Number-Cruncher

Though this blog will not compete with fellow Lansing native Nate Silver, I thought I would share an amazing and disturbing economic statistic (it is my forgotten major).

On a world scale, stock-market turnover increased from 28% of world output in 1990 to 81% in 1998.

Nothing that hasn’t been said a billion times before, but the tripling of anything in a short time resembles nothing more than a gambler at a casino.

H/T: From Marxism to Post-Marxism?, by Goran Therborn