Darwin’s Piggy Bank allows baffled citizens to share their thoughts about the bizarre world of finance. As Bitcoins bubble and gold sinks to the dark recesses, economists glibly publish theories and financial models that are often worse than faulty safety belts, which cease to work when they are needed most – during a crash. Meanwhile, cunning Wall Street’s bankers create complicated financial instruments that cause irreparable harm to our society. Financial advisors have become reverse “Robin Hoods” – stealing from the poor to give to the rich. Somewhere during the 20th century we seemed to have forgotten that economics should be centered on human behaviors, not backtested data, while our financial system operates like a super-organism – constantly adapting to new technologies, legal systems and environments. If we start to think about economies as an integrated ecosystem that suffers from the animal spirits of fear and greed, does that change how we should save and invest? What would Darwin make of our current state of affairs?
This blog is intended to engage and enrage in equal measure.