In the short run and for decisions unlikely to have broad impact, it may be more cost effective to use just one expert.

It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.

A major boom in real stock prices in the US after Black Tuesday brought them halfway back to 1929 levels by 1930. This was followed by a second crash, another boom from 1932 to 1937, and a third crash. Speculative bubbles do not end like a short story, novel, or play. There is no final denouement that brings all the strands of a narrative into an impressive final conclusion. In the real world, we never know when the story is over.

Marketers know that if people you respect - perhaps laughably including entertainers and athletes - say they like a product, you're more likely to buy.

I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.

In the longer run and for wide-reaching issues, more creative solutions tend to come from imaginative interdisciplinary collaboration.

News media stimulate bubbles, since stories about them boost their audience.