Warning: This post might get longer over time. That is partly a joke, but “long post is long” is a frequent warning on the old Slatestarcodex blog, whose author has now moved to Astral Codex Ten. While the New York Times has issued a sloppy, poorly researched rant fit for a rag, in contrast Scott Alexander has responded, debunking their falsehoods with a statement. But since I’ve shared links to SSC articles many times over the years, I wanted to respond to the NYT as they seem to think SSC readers are evil. This is the internet, so I’m sure…


Bootstrapism

Watching a video debunking the lottery recently, I decided to quantify the financial impact of poor people playing the lottery against investing money. I find this kind of nagging about coffee, avocado toast or lottery tickets mostly bootstrapism, where financial gurus claim people wouldn’t be poor if only they made better decisions. Sure, it makes a difference, but how much EXACTLY?

Standard disclaimer: None of this is financial advice. Lottery tickets and investments are risky and can and will lose value. Your mileage may vary. …

Nate the Albatross

Writing

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