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An optimistic Platonism

Plotinus wrote that, yes, the sensible world is a mere imperfect copy of the intelligible world, but he also wrote against the pessimism of the gnostics, against the idea that the sensible world is a bad thing.  He wrote thus:  “what more beautiful image could there be? After the fire of the intelligible world, what better image of it could there be than our fire? What earth, outside of the intelligible earth, could be better than ours?" In short: yes, we live in a cave looking at shadows, but the cave is not at all a bad place to be.  Those who aren't philosophers (most of the species, on Plotinian premises) can never get outside the cave, but that doesn't make their fate too dire. They get to look at all those fascinating shadows on the wall.  Meanwhile for those few who can sometimes get out of the cave and look at the real world ands even glimpse the sun, those times are of necessity brief. We'll have to return to the cave. We can resign ourselves to th...

Thinking About Stock Options

I was thinking of writing here something about the now-concluded college basketball season. But since Great Britain's former Prime Minister Margaret Thatcher passed away recently I've changed my mind. I think the best tribute I can do Thatcher is to continue my recent discussions of some considerations pertaining to market economies. I'm told that was something of an interest of hers. Besides, I didn't have anything especially incisive to say about basketball. Today's question, then: First: what IS a stock option? It is either an option to buy (call) a stock or an option to sell (put) a stock. An option to buy a stock is a contract by which the buyer acquires the right (without incurring any obligation) to purchase shares of a stock at a specific price on a specified date.   An option to sell is much the same, except as you might already have inferred, the buyer of an option to sell acquires the right (again, without obligation) to sell shares of a...