The South Pacific country of Vanuatu has been voted the happiest place in the world so what makes its inhabitants such a happy lot? Not having to worry about money – the secret of Jean Pierre’s happiness (photo: James Mair) Jean Pierre John is living the dream. That popular fantasy of owning one’s own island, [...]

(from a conversation with David) The thing about just-in-time JIT in all of its manifestations is that it induces system fragility because it encourages optimization against a static frame. The assumption is that things will be tomorrow much as they are today. Worse, systemic underpricing of risk is an evolutionarily stable strategy over the long [...]