As for another profession ... I suppose I'd manage a global-macro hedge fund. I love that kind of stuff. Weird, I know, but I find it fascinating.
The achievements of past struggles and the aspirations of an entire nation are [being] undone and erased.... No Agent Orange or steel pellet bombs, no napalm, no toxic chemicals: a new phase of economic and social (rather than' physical) destruction has unfolded. The seemingly neutral and scientific tools of macro-economic policy constitute a non-violent instrument of recolonization and impoverishment.
I'm involved in everything from highly progressive lighting systems to airline interiors. In the field of transportation I can go from the micro to the macro: architecture, transportation, industrial product design, right across the board. It's Russian dollism, because they all interrelate: one goes into the other.
I heard someone say that concern over the [Confederate] Flag is sensitivity to micro-aggressions, to which my response is to say that kidnapping and enslaving people, breaking up families, terrorizing families, if that's not a macro-aggression, I don't know what is.
One influential philosophical position about the use of probability in science holds that probabilities are objective only if they are based on micro-physics; all other probabilities should be interpreted subjectively, as merely revealing our ignorance about physical details. I have argued against this position, contending that the objectivity of micro-physical probabilities entails the objectivity of macro-probabilities.
I think what they've been doing is largely almost in firefighting mode without a good conceptual framework - either at the micro or the macro level. Micro, you would ask: "What kind of financial or banking system do we want?" Macro, you would say: "What are the underlying problems in the structure of our economy?"
One thing I want to emphasize is that, like any human being, we can discuss our view of the economy and the market. Fortunately for our clients, we don't tend to operate based on the view. Our investment strategy is to invest bottom up, one stock at a time, based on price compared to value. And while we may have a macro view that things aren't very good right now - which in fact we feel very strongly we will put money to work regardless of that macro view if we find bargains. So tomorrow, if we found half a dozen bargains, we would invest all our cash.
When you look at any experimental work not directly related to economics, but trying to test rational behavior in other ways, experiments have conspicuously failed to show rational behavior. Macro evidence certainly suggests deviations from rationality, but I don't want to say the rationality hypothesis is completely wrong. If you have any introspective idea or experimental idea about people's behavior, it seems to be incompatible with the really full scale rational expectations.
...by regularly reading business newspaper and magazines I am exposed to an enormous amount of material at the micro level.. I find that what I see going on there pretty much informs me about what's happening at the macro level.
It seems to me that at least as far as the financial markets are concerned, there is increasing evidence against rational expectations, even at the macro level.
But the macro-economy is not the Whole. It too is a Part, a part of the larger natural economy, the ecosphere, and its growth does inflict opportunity costs on the finite Whole that must be counted.
Thanks to the central bank, most "monetary experts" and "leading macro-economists" can, by putting them on the payroll, be turned into government propagandists "explaining," like alchemists, how stones (paper) can be turned into bread (wealth).
Many developing countries are enjoying demographic changes. They have a younger demographic composition so they're not burdened by legacy policy. Now, if you combine this with a good macro policy and ambitious structural policy, those countries are able to move more flexibly and be more agile.
It is my conviction that if any professional biologist will take adequate time to examine carefully the assumptions upon which the macro-evolution doctrine rests, and the observational and laboratory evidence that bears on the problem of origins, he/she will conclude that there are substantial reasons for doubting the truth of this doctrine. Moreover, I believe that a scientifically sound creationist view of origins is not only possible, but it is to be preferred over the evolutionary one.
Although a biologist, I must confess I do not understand how life came about... I consider that life only starts at the level of a functional cell. The most primitive cells may require at least several hundred different specific biological macro-molecules. How such already quite complex structures may have come together, remains a mystery to me. The possibility of the existence of a Creator, of God, represents to me a satisfactory solution to this problem.
John Boehner has to start taking a macro step towards the American people, away from the more radical elements of his party. You know, it's almost a form of anarchy. We have a law that was passed by Congress. We have a law that the Supreme Court said was legal. It's been implemented. And I'm sorry they don't like it. There's been a lot of laws in the past the Democrats didn't like. But that's what this country is about. You pass laws. And if they are deemed legal, you respect them and you move forward.
We have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.
My off-the-cuff remarks at the University of Virginia were with regard to global macro traders, who are on-call 24/7 and of whom there are likely only a few thousand successful practitioners in the world today. Macro trading requires a high degree of skill, focus and repetition. Life events, such as birth, divorce, death of a loved one and other emotional highs and lows are obstacles to success in this specific field of finance.
As I've told my three daughters, all of whom I've at one time encouraged to go into macro trading, any man or woman can do anything to which they set their heart and mind.
I believe that great success is possible in any field — from music to mathematics to macro trading.
Some writers find that they don't know their themes until they've finished the first draft (I am one). They then rewrite with an eye toward balancing on that tightrope: not too contrived, not too rambling; does what I'm saying about the world below me actually add up to anything? Other writers pay attention to these things as they write the first draft. Either way, an awareness of the macro and micro levels of theme can provide one more tool for thinking about what you should write, and how.
Peter Montiel has long set the highest standard for lucid textbooks on the macroeconomics of developing countries. Now in this new edition of his superb classic Macroeconomics in Emerging Markets, he has surpassed even himself. He uniquely fills the gap between rich-country-obsessed macro- and micro-obsessed developing-country analysis. No student of the macroeconomics of development will henceforward be able to do without this book.
It's therapy. [people] say true healing requires honest confrontation, and that can be seen on a macro scale with America and the things that have been swept under the rug, whether it be with the native Americans or slavery, or whatever holocaust that's happened on this soil.
Jargon marks the place where thinking has been. It becomes a kind of macro, to use a computer term: a way of storing a complicated sequence of thinking operations under a unique name.
The first gesture of an architect is to draw a perimeter; in other words, to separate the microclimate from the macro space outside. This in itself is a sacred act. Architecture in itself conveys this idea of limiting space. It's a limit between the finite and the infinite. From this point of view, all architecture is sacred.
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