The Strategist
The long view, patient, analytical, playing several moves ahead.
Edward Chancellor reads as The Strategist because his method is to map causality across time horizons that shorter-cycle thinkers ignore. His excavation of interest rate history, at GMO and in The Price of Time, traces how central bank decisions distort capital allocation, pension sustainability, and risk appetite across decades.
“Central bank or policy maker without anyone without anyone voting for it these people who wanted us all to have accounts with the central bank with the central bank having an authority just takes much of our capital away seem to undermine property rights but leaving aside that where we see in places like Japan and Europe there was no turb…”
“As I mentioned in the book, that insolvency rates were sort of absurdly low. We talked about the Great Depression, the new headlines were, oh, the worst financial crisis since the Great Depression. It was called the Great Recession.”
“Among other reasons. What I'm saying is that every society, because it's innate because all humans are constrained by their mortality, all actions take place, economic actions take place across time, that even if you didn't have a capitalist or market economy, something would need to ration or to direct your resources or direct your behav…”
“It's vitally important. First of all, I'd say time is important to all human beings. And what's called time preference People's tendency to prefer the present to the future, to what we call discount the future. Appears to be a universal phenomenon. Some people are another way of talking about it is impatience.”
Masters in Business: “Edward Chancellor on the Real Story of Interest”
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