Wallis Chan

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Shocks, Crises, a...
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Lululemon and the...
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Helene Wecker
“Sometimes men want what they don't have because they don't have it. Even if everyone offered to share, they would only want the share that wasn't theirs.”
Helene Wecker, The Golem and the Jinni

“Look at everything always as though you were seeing it either for the first or last time: Thus is your time on earth filled with glory.”
Betty Smith, A Tree Grows in Brooklyn

Xenophon
“When, lithe of limb, she danced the Pyrrhic, loud clapping followed; and the Paphlagonians asked, "If these women fought by their side in battle?" to which they answered, "To be sure, it was the women who routed the great King, and drove him out of camp." So ended the night.”
Xenophon, The Persian Expedition

J.D. Vance
“I remember watching an episode of The West Wing about education in America, which the majority of people rightfully believe is the key to opportunity. In it, the fictional president debates whether he should push school vouchers (giving public money to schoolchildren so that they escape failing public schools) or instead focus exclusively on fixing those same failing schools. That debate is important, of course—for a long time, much of my failing school district qualified for vouchers—but it was striking that in an entire discussion about why poor kids struggled in school, the emphasis rested entirely on public institutions. As a teacher at my old high school told me recently, “They want us to be shepherds to these kids. But no one wants to talk about the fact that many of them are raised by wolves.”
J.D. Vance, Hillbilly Elegy: A Memoir of a Family and Culture in Crisis

Martin Wolf
“This book aims to learn from that mistake. One of its goals is to ask whether Minsky’s demand for a theory that generates the possibility of great depressions is reasonable and, if so, how economists should respond. I believe it is quite reasonable. Many mainstream economists react by arguing that crises are impossible to forecast: if they were not, they would either already have happened or been forestalled by rational agents. That is certainly a satisfying doctrine, since few mainstream economists foresaw the crisis, or even the possibility of one. For the dominant school of neoclassical economics, depressions are a result of some external (or, as economists say, ‘exogenous’) shock, not of forces generated within the system.”
Martin Wolf, The Shifts and the Shocks: What we've learned – and have still to learn – from the financial crisis

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