In Fortune Tellers, Walter Friedman shows not only where our contemporary forecasting ecosystem came from, but also its considerable influence on present-day economic thought and practice.
The whole idea of a democracy is that the majority is generally supposed to get its way. But time and again, it’s not the majority but a potent minority that drives—or prevents—progress.
Financial literacy promotion may sound perfectly sensible—who wouldn’t want to teach children and adults the secrets of managing money?—but in the face of recent research it looks increasingly like a faith-based initiative.