(Not) boring finds for November 2019
This month, we learned how the 7 most common plots in storytelling can help investors; why analyzing historical returns usually needs more context; the case for “narrative economics”; and a look at the first map of America’s food supply chain.
Collaborative Fund – Common plots of economic history
How familiarizing ourselves with the 7 most common story-telling plots can add to our understanding of human behaviour, and the economy.
“Economic history may be complicated. But the common denominators of human behavior means there are, if you look, only a handful of broad story plots that pop up again and again, throughout history and around the globe, connecting the economic experiences of people who otherwise seem to have little in common.”
Of Dollars and Data – Realistic investment results
Why discussing historical returns isn’t always a practical exercise.
Marker (Medium) – The economist who wants to ditch math
Nobel laureate Robert Shiller makes a case for reorienting economic theory around analyzing narratives: “The standard statistical analyses are no longer valid. They assume that we know the probabilities with which everything will occur. In reality, we are almost never in that position…if narratives are driving things, I just don’t think that’s what we should do as a profession — ignore it — because we don’t have precise ways of researching it.”
A fascinating first look at America’s food supply chain from core producing hubs, to receiving ones, and most common transportation methods.