Economics of Culture
“Culture is one of the most underrated ideas in economics. For decades, economists avoided invoking culture—the shared values, norms, beliefs, preferences, and behaviors of a group—as an explanation for economic outcomes.”
—Roland Fryer (@Dr_RolandFryer), WSJ, October 31, 2025
Poverty is a word that nominalizes a complex process, turning it into a fixed "thing." This framing directs our caring instincts toward identifying and repairing that "thing," as if it were a tangible object like a car.
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"Research shows 80% of trading success is psychology—not strategy. Yet most traders never measure their mindset. Mind Metrics tracks your Sensations, Emotions, Thoughts (SET) to rewire your edge. 4-week live group starts April 29. https://t.co/dQ724xO0Qj
Mike was an impulse-trading mess. 3 weeks with Mind Metrics? Doubled his account. Sarah stopped bailing on winners—now she’s fearless. Join my last group before I retire. Starts April 29.
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Lost a trade this week because you panicked—or chased a hunch?
Most traders don’t even know why they keep screwing up. I do.
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"Coaches preaching 'will power' or 'discipline'
forge chains for your soul’s endless battle.
Politicians crying 'fight' for their cause
weave wars in words, never meant to unravel."
I had a delightful hour talking to Kyle Hedman with Band of Traders. When I am coaching my trading clients live on Zoom, they always (almost) execute their strategy very well. Here is a 30 second clip from our discussion.
https://t.co/bUlq48NYhJ
When the U.S. Constitution was ratified, was it descriptive or prescriptive? In other words, did it codify the existing zeitgeist or was it created to improve the cultural beliefs? I am asking what is foundational...
As a founder of my equities, options, and futures trading firm, I watched the news, NOT to find out what was happening, but for what it induced people to believe. Next, I look for the subtle tells that beliefs were about to shift. This is where the most money was to be made.
“Acceptance does not mean you condone; it simply means you are powerful enough to flow through "what is" with peace until you co-create change.” Valencia Ray