Naval On How Bankers Have Effed Over Society

On The Joe Rogan Experience podcast, Naval Ravikant gave his thoughts on the drawbacks and advantages of capitalism. In terms of one of the drawbacks, Naval talks about how bankers have essentially effed society over. Here is a direct quote from the clip. You can also watch the video—the exchange is from 40:43 to 41:30.

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What Does Intertemporal Abstractions Mean

The term intertemporal abstractions was coined by Thomas Sowell. I first heard the term in his book Black Rednecks and White Liberals. Sowell summarized it best in his interview with The Spectator, as…

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