I read The Map and the Territory by former Federal Reserve chairman Alan Greenspan. It's about the economy and the financial system after the 2008 financial crisis.
Here are six things I learned.
1. Economics is a soft science:
2. That makes forecasting all about probabilities:
3. Still, we're not very good at it, especially when it matters most:
4. Proposed bankregulationused to have teeth:
5. Finance is really important for the economy, and it's driven by emotion:
6. We'll be arguing for decades:
Buy the book here. It's good.
The article 6 Things I Learned From "The Map and the Territory" originally appeared on Fool.com.
Contact Morgan Housel at firstname.lastname@example.org. The Motley Fool has a disclosure policy.
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