While there are a thousand things you can do to improve your negotiation outcomes, one single undertaking stands out above the rest. As anyone who teaches, coaches, or practices negotiation will tell you, preparation is the key to better results. In approaching any important … [Read more...]
Fama Gets His Nobel Prize
“Eugene Fama will probably win the Nobel Prize someday for his work on the efficiency of financial markets.” If I had a nickel for every time I’ve said that, my vast wealth would permit me to ignore his teachings. This week, the folks in Sweden decided that the time had come to … [Read more...]
A Luddite’s Plea for a Less Complex Tax System
Just how much complexity can we tolerate? The question might serve as a general comment on contemporary life but, in this case, it is specifically targeted at the tax code. We are rapidly moving from an absurd level of complication to something more troubling – complexity that is … [Read more...]
Commitment as an element of negotiation
Good negotiators concentrate intently on what they are being locked into, when the tie takes hold of them, and how tightly it binds. This is what negotiation theorists refer to as the element of commitment. How tightly do you wish to be bound? The answer to such an abstract … [Read more...]
Public Pensions, Private Banking, and the Profit Motive
Months ago I proposed one or more not-for-profit investment banks to meet the financing needs of municipalities and other governmental entities. The context of that post was removing the profit motive from the process of selling municipal debt. I called for a … [Read more...]
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