What are the commonalities among these three?
1. Marxist theory of surplus-value
2. Freudian theory of Libido, aka Id
3. Lévi-Strauss theory of Structural Anthropology
You must listen and try to decipher the CBC Massey Lectures delivered by #George #Steiner back in 1974 to answer the above tweet.
I have the greatest respect for this polyglot scholar par excellence.
So was Karl #Marx and his #Hegelian Materialistic #Dialectic that explained the economic history of social #evolution using scientific processes, a by-product of #Romanticism that had swept European Intellectual and Literary Circles?
To understand how #Romanticism affected the social, political, and economic thought processes in Europe, you must read #Isaiah #Berlin.
It's the most cynical attack on this movement, which needs requires a multi-dimensional analysis.
From Development Economics, and Sociology Perspectives, we should be able to distinguish between Positive and Negative Freedoms aka Civil Liberties.
Negative Freedoms will lead us into anarchy!
#Populism and Identity Politics are good examples of that.
I always ask populists and reactionary intellectuals who oppose time-tested models and theories, to come up with an exciting alternative system or theory, which would offer better living conditions for the masses.
I fail to get an answer.
The problem is that there cannot be a theory of everything in Social Sciences.
This #Astrophysics induced obsession must come to an end!
Societies cannot be written down or validated as axiomatic mathematical proofs.
Also, we have most certainly reached the end of history, as predicted by Francis #Fukuyama.

The adoption of market economics by collectivists on the left of the centre in politics such as former UK PM Blair and others around the world is an admittance of that reality.
What is trying to replace you is very much like you!

It's the same voice with a different accent emerging within your mind.

That is the concluding tweet.

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More from @SAH16928046

24 Jul
I will not invest in a mutual fund, until and unless I won't carry out specific due diligence of my own.
These @MorningstarInc style fund reports are not very helpful.
You should know inside out about the management and especially the fund manager who will be managing your money.
The standard Bull Shit advice marketed in the industry by investor relations and advisory experts =>
Maybe you can check out the Sharpe and Sortino ratios for funds before investing.
If you understand risk management concepts, do check out the VaR - Value at risk figures of all the competing funds drawn from the universe of investment possibilities.
Read 27 tweets
21 Jul
Can data science overcome quantitative finance in terms of employment and salary?
Well, I think you are asking a relevant question.

It can be explained using a Social Darwinian Perspective.
First, the Simple answer =>

YES =>
Quantitative Finance will get absorbed into Data Sciences and Machine Learning Areas as a sub-field.

Read 13 tweets
20 Jul
Even Art and Sculpture are now being used to manage wealth by some private investment teams.
I won't be surprised if portraits and handicrafts become a major asset class for the HNW Clients.
Due Diligence Risks remain, and the possibility of money laundering can't be ruled out!
Wealth Management as a subject is rapidly evolving.
Private Banking and Wealth Management Teams are offering all kinds of exciting financial and portfolio management solutions for the long term.
Hence, managing the risks of such transactions requires new paradigms.
For e.g. I was speaking to a Wealth Manager at a conference a few years back!
He told me that even Aged Cigars and certain Alcoholic Products such as Cognac, Wine, and Champagne, etc. It is a great investment, as their value augments, as time passes by!
Read 11 tweets
20 Jul
The impacts of exchange rate volatility on the monetary base has different scenario-based outcomes.
NFA and NDA both can increase and decrease with currency appreciation and depreciation over time.
It might become difficult for the central bank to mop up excess liquidity.
NFAs are Net Foreign Assets(foreign denominated balances) and NDAs(domestic currency denominated balances) are Net Domestic Assets.
That is how most central banks like to categorize the two components of the money supply.
It further breaks down into M1, M2, M3 and so on, etc.
Going back to the basics of Fixed Income Economics and Portfolio Investments aka Bond Markets, we need to understand, the liquidity preference theory, preferred habit theory, and market segmentation theory, to extrapolate yields & risk expectation formations across the rate-curve
Read 6 tweets
16 Jul
Should basic human needs be catered to as services within the framework of a market order, where forces of demand and supply shall determine the price for each interaction aka transaction and the social value created for the consumer via production, exchange and consumption?
For e.g. should the receiver of services in lieu of tax money and welfare benefits earmarked by a government in areas such as health and education be treated as consumers in any other industry?
Should we have the option to choose the most efficient hospitals, and schools?
Each public service providing institution should be corporatized?
Each public service institution should have a Profit and Loss A/c and a balance sheet?
Each public service institution should treat recipients as buyers of products and their interactions akin to transactions?
Read 4 tweets
15 Jul
Is this Unanticipated or Anticipated Inflation Risk?
This is what economists need to explain to us!
We knew it was coming due to the reflationary policy stance of central banks in the first world, and elsewhere.
But, the augmented rate was not unexpected.
But, this is not the 1970s, when oil price shocks, and other supply-side macroeconomic and microeconomic distortions of the postwar years raised the inflation rate unexpectedly to astronomical heights.
I don't see any massive stagflation developing due to technological gains.
Yes, the "PHILLIPS CURVE" is officially deceased.
won't return again!
Monetarists and some other schools of thought have created hues and cries of the return of the economic phantom, but, no, it won't happen.
Prices and #Unemployment have been disentangled.
Read 9 tweets

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