The Optimistic Thought Experiment

You’ll want Instapaper for the full arti­cle, but this comes from a lengthy piece about the econ­omy, glob­al­iza­tion, and mar­ket trends at The Hoover Institute.

Those investors who limit them­selves to what seems nor­mal and rea­son­able in light of human his­tory are unpre­pared for the age of mir­a­cle and won­der in which they now find them­selves. The twen­ti­eth cen­tury was great and ter­ri­ble, and the twenty-first cen­tury promises to be far greater and more ter­ri­ble. Classic invest­ment strate­gies no longer work in a world where ordi­nary eco­nomic cycles are broken.

Seriously, go read the full arti­cle, it’s worth it.