Life explained and lived through -
- Selfishness is a virtue - work hard for yourself; keep expanding the economy around you; pay higher taxes; hire people; spend more. It will do good.
- Moral hazard - you pay a price for others' indulgence. Almost always.
- Information asymmetry - you can never know the truth. Only knowable truth is what you did.
- Chance theory - one thing somewhere there can and will affect the something else here. a boss has a fight at home; team gets screwed.
- Black-swan events - extraordinary, not ordinary, events shape life. Ours or someone else's. 9/11. marriage. death.