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The fixed-rate, 30-year mortgage is a particularly American invention, possible only because the federal government insures the debt — if a borrower defaults, the government is on the hook. (Only one other country, Denmark, offers the same instrument.)
Lessons From a Renters’ Utopia
nytimes.com
A former McKinsey employee has described the company as “capital’s willing executioners”: if you want something done but don’t want to get your hands dirty, McKinsey will do it for you. That escape from accountability is one of the most valuable services that management consultancies provide.
Will A.I. Become the New McKinsey?
newyorker.com
In a murmuration, each bird sees, on average, the seven birds nearest it and adjusts its own behavior in response. If its nearest neighbors move left, the bird usually moves left. If they move right, the bird usually moves right. The bird does not know the flock’s ultimate destination and can make no radical change to the whole. But each of these birds’ small alterations, when occurring in rapid sequence, shift the course of the whole, creating mesmerizing patterns.
How Online Mobs Act Like Flocks of Birds | NOEMA
Renée DiResta
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Readwise