Summary of Dice Have No Memory

Big Bets and Bad Economics from Paris to the Pampas

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Dice Have No Memory book summary
Curmudgeonly columns from a constant contrarian

Rating

8 Overall

6 Importance

8 Innovation

9 Style

Recommendation

Bill Bonner’s curmudgeonly blog posts are so well crafted that they are pretty entertaining, even if you disagree with his conclusions. This collection of his best columns from 1999 to 2010 from his newsletter, The Daily Reckoning, displays his unusual combination of hard-hitting analysis and witty writing. The compilation includes excerpts in which Bonner recommended gold when gold wasn’t cool and bashed Alan Greenspan before that was fashionable. A constant contrarian, Bonner takes positions that might seem extreme: Central banking is a waste of time, he believes, and government can do nothing right. Yet Bonner delivers his opinions in a style that can make even a skeptic enjoy his wry way with words. While some of his ideas seem intended more to shock than illuminate – he advocates letting a Great Depression happen and contends that people are poor because they prefer poverty to working – getAbstract suggests this collection as a distinctive, contentious and conservatively controversial take on economic doings.

In this summary, you will learn

  • Why economists and central bankers are usually wrong and often dangerous
  • Why only gold provides true financial value
  • Why massive consumer and state spending will doom the world economy
  • Why government can’t get anything right
 

Summary

The Folly of Economists
Economists, especially those who run central banks, are usually wrong. To call economics a science is an insult to science: While physical science discovers provable and unchanging facts, the “dismal science” of economics is more akin to reading the tea leaves of...
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About the Author

Bill Bonner is the president and CEO of Agora Publishing. Bonner also created The Daily Reckoning blog.


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