Our Master Of All Universes moans that the Free World’-s private and public decision makers rarely or never ask him for advice —-even though he sits on many “-Boards Of Advisors”- (like NewsFutures‘- one), which are, by definition, set up to provide advice —-or so he thought, at inception. How come CEOs and heads of states are not imploring him for advice to help them run the word, he asks. He blogs that advisers are probably paid primarily for the prestige value that they lend to the company.
Which leads me to realize that I pay zero French franc for having economist Michael Giberson on our Scientific Advisory Board, which is quite about what his prestige is worth in the field of prediction markets, as of today. That might change in the future, though —-especially if I continue to flatter him publicly in posts like this present one. He might suffer from ego inflation and charge me for using his so-called “-prestige value”-. All economists, be damned. They are as greedy as the people they study.