In looking for simple answers—or worse, easy villains to blame for what goes wrong—we all too often suppress the realities of complexity.
The Beauty of Complexity
Continue Reading
Larry Hatheway has over 25 years’ experience as an economist and multi-asset investment professional. He is co-founder, with Alexander Friedman, of Jackson Hole Economics, a non-profit offering commentary and analysis on the global economy, matters of public policy, and capital markets. Larry is also the founder of HarborAdvisors, LLC, an investment advisory firm catering to family offices and institutional clients worldwide.
Previously, Larry worked at GAM Investments from 2015-2019 as Group Chief Economist and Global Head of Investment Solutions, where he was responsible for a team of 50 investment professionals managing over $10bn in assets. While at GAM, Larry authored numerous articles on the world economy, policy-making, and multi-asset investment strategy.
From 1992 until 2015 Larry worked at UBS Investment Bank as Chief Economist (2005-2015), Head of Global Asset Allocation (2001-2012), Global Head of Fixed Income and Currency Strategy (1998-2001), Chief Economist, Asia (1995-1998) and Senior International Economist (1992-1995). Larry is widely recognized for his appearances on Bloomberg TV, CNBC, the BBC, CNN, and other media outlets. He frequently publishes articles and opinion pieces for Bloomberg, Barron’s, and Project Syndicate, among others.
Larry holds a PhD in Economics from the University of Texas, an MA in International Studies from the Johns Hopkins University, and a BA in History and German from Whitman College. Larry is married with four grown children and resides with his wife in Redding, CT, alongside their dog, chickens, bees, and a few ‘loaner’ sheep and goats.
Trump’s Indictment is Just the Beginning
The New York indictment will unleash forces in American politics whose direction and implications are difficult to comprehend.
A Tale of Two Banks
Is the Fed is losing control over the money supply and inflation in its efforts to combat the banking crisis?
What Next?
The ongoing banking crisis is an opportunity to rethink whether we even still want or need to have banks.
Time For a Different Drink?
While it is tempting to assume the market is driven only by the direction of the Federal Reserve, what is happening in China should also be
Markets Believe in Miracles
Global equity markets are priced to perfection, a state that is unlikely to remain unchallenged.
Do We Know What Causes Inflation?
The Phillips Curve has fallen into disrepair, leaving central bankers without reliable tools to navigate through the fog. That ought to worry
Germany: Tanks are Moral
The 20th century was defined, in many ways, by the worst of Germany. The 21st can yet be defined by its best moral self.
Round 1: 2023 ‘Forecasts’
Although John Kenneth Galbraith once said ‘The only function of economic forecasting is to make astrology look respectable,’ we think
Humility and Economics
Economics is full of inherent contradictions — and wisdom for those with the humility to unpack them.
FTX and When Foxes Guard Hen Houses
A great deal has been written about the demise of FTX, the cryptocurrency exchange run by Sam Bankman-Fried (SBF). Many of the post-mortems have focused on potential fraud, drawing comparisons to Enron’s collapse in the early 2000s. Less ink has been spent on...
Turkey for Thanksgiving?
This coming Thursday, Americans celebrate Thanksgiving. Thanksgiving is a family gathering, thankfully without the obligation of gift-giving. It is a holiday to reflect on that for which we are grateful. Turkey is the mainstay of the traditional Thanksgiving dinner. A...