I tend to delay writing by doing more research - it's really the act of writing the piece that I have the hardest time with.

In a world where companies increasingly know about their business in real time, it makes no sense that public reporting mostly follows the old quarterly schedule. Companies sit on vital information until reporting day, at which point the market goes crazy.

Companies have long gathered data to break down their customer base into specific segments. Now political parties have become adept at micro-targeting, too, using data on shopping habits, leisure activities, voting histories, charity donations, and so on, in order to pinpoint likely supporters and the type of appeal most likely to win them over.

Patrimonial capitalism's legacy is that many people see reform as a euphemism for corruption and self-dealing.

Businesses that have gone through an episode of hyperinflation become understandably alert to the threat of it: at the first hint of inflation, they're likely to increase prices, since they've learned that if they don't, and inflation hits, their businesses will be wrecked.

Sometimes even a smart crowd will make a mistake.

Critics of consumer capitalism like to think that consumers are manipulated and controlled by those who seek to sell them things, but for the most part it's the other way around: companies must make what consumers want and deliver it at the lowest possible price.