Why You should Not Study Macroeconomics - And What to Do Instead [Naval Ravikant, Mohnish Pabrai]

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Naval shares his thoughts on macroeconomics and the macro picture of things in general. He says that is not really worth to place one's energy in this field, and he argues that instead the Micro and Game Theory are critical for succeeding in a modern capitalist society.

Enjoy!

👉 Naval Ravikant

📲 How to Get Rich (podcast)
► https://www.youtube.com/watch?v=1-TZqOsVCNM&t=859s&ab_channel=Naval

📚 Books
📖 The Almanack of Naval Ravikant, by Eric Jorgenson.
► Free - https://www.navalmanack.com/
► Amazon Store (affiliate Link - No Extra Charge) - https://amzn.to/3qNAKBc


👉 Mohnish Pabrai

📲 Digital Content / Work
https://www.youtube.com/user/mohnishpabrai

👥 Social
https://twitter.com/MohnishPabrai

📚 Books
📖 The Dhandho Investor: The Low-Risk Value Method to High Returns, by Mohnish Pabrai.
* Amazon Store (affiliate Link - No Extra Charge) - https://amzn.to/3GWLgvz


----- Source -----
* https://www.youtube.com/watch?v=mGY2To_HW98&t=3903s&ab_channel=TheKnowledgeProject
* https://www.youtube.com/watch?v=wT1m8J4hdpA&t=1459s&ab_channel=MohnishPabrai


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* I stopped believing in Macroeconomics

* Macroeconomists can take every side of all arguments

* It doesn't make falsifiable predictions (which is the hallmark of science). You can't run experiments to test it -- Thus, it becomes a corrupted realm. --- People cherry-picking the data to make their arguments.

* Time spent consuming or making macroeconomics, is time wasted. And your stress levels would likely increase.


- On the other hand, Microeconomics & Game Theory are fundamental:

• You need to understand these disciplines in order to be successful in a modern capitalist society.

• Some concepts within Microeconomics:
** Supply-Demand Dynamics
** Labor / Capital

- Micro-Environments Over Macro Environments

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#NavalRavikant #MohnishPabrai #Macroeconomics


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