Today’s needull addresses an interesting question: how much risk is okay early in life? Should you park anything with risk for a little later in life?
There is a case to be made that, in the game of life, avoiding elimination in the early rounds is a good approach.
It always interests me that we are now more sanctimonious about tobacco than we are about drink, cycling, motorcycling and mountaineering. Almost every single person I know who has died before the age of 50 was killed by one of these four.
Something economists don’t understand, with their narrow focus on utility, which is an artificial additive function accumulated in a series of independent transactions, is that life is multiplicative, not additive. And it is path dependent.