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You may or may not be aware that there's a Simple English Wikipedia.

It's very helpful for those of us who know English, but are unable to parse complex sentences (for whatever reason).

I'm very interested in Taleb's concept of Ergodicity (Taleb may have gotten the idea from Mandelbrot).

Ole Peters has probably been most responsible for fleshing out the concept in the domain of Economics.

I'm very intrigued by the concept and am curious about ways to apply it in my life to improve my life. You may be too.

I know some math, but am often unable to parse interpretations of complex mathematical concepts.

I've posted a screenshot below with three sentences/phrases underlined. The screenshot is from this article by Ole. I'd appreciate if you could provide a simple breakdown of what one or more of these sentences are trying to say. Thanks in advance.

enter image description here

thanks_in_advance
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  • I would not pay too much attention to what Ole Peters is saying... See the consensus on his contributions. – Richard Hardy Nov 10 '23 at 20:08
  • @RichardHardy Fair, but I still want to parse those three sentences/phrases. Even if just as an exercise in improving my parsing ability. – thanks_in_advance Nov 10 '23 at 20:22
  • Truth be told: when I got to the line "Economics textbooks and papers miss this point" I stopped reading. Because, unfortunately, economics attracts a lot of I'm-right-and-conventional-econ-is-wrong people. My advice: anyone promoting a heterodox theory should briefly explain their changes to conventional econ and how it improves the result. – Daniel Nov 11 '23 at 02:17
  • @Daniel Fair, but it helps to remind oneself that the advent of Behavioral Economics, too, once led to a revision in Economics textbooks: https://www.nobelprize.org/prizes/economic-sciences/2002/kahneman/lecture/ , https://en.wikipedia.org/wiki/Homo_economicus – thanks_in_advance Nov 11 '23 at 03:28

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