The volatility machine
by Michael Pettis · first published 2001
3mentions
2recommended by
2HN commenters
2014–2016first – last mentioned
100% recommend
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Traders, Guns and Money - Satyajit Das Debunking Economics - Steve Keen The Volatility Machine - Michael Pettis
on “Ask HN: What are the must-read books about economics/finance?” ↗His book "The Volatility Machine" was one of the best I have ever read on global macro. Perhaps due to publication timing, it's managed to stay under the radar.
on ““Not with a bang but a whimper”” ↗…not seen any Walkman-scale consumer innovations/global successes since Morita. I read somewhere, many years ago, that as many as 11 could be directly traced to him. The macro economist (e.g. see "The Volatility Machine" by Pettis) would argue that there was fabulous amounts of FDI right until 1991, and one side effect of cheap capital is a lot more R&D into "useless" and "risky" things some of which become groundbreaking…
on “In High-Tech Japan, the Fax Machines Roll On (2013)” ↗