Home on Thinking on Credit

About

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Thinking on Credit is the third title in the Price of Thinking family and the paid tier above its free layer. The Price of Thinking is a short book that explains AI with the tools of a first economics course. The Return on Thinking measures the AI boom from primary sources and publishes everything it collects under an open licence. Thinking on Credit takes the same primary sources into the credit stack behind the boom — who owes what, what secures it, who holds it — and sells the judgement that collection alone cannot supply.

Founding subscriptions

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Thinking on Credit is sold by institutional subscription, to the person who will read it. There is no portal to procure and no platform to integrate: each edition arrives as documents and data.

A founding subscription covers the first two editions — calendar Q3-2026 and Q4-2026 — and carries input rights on the universe for the second edition and one call per edition with the author. Founding subscribers are named in the first edition’s acknowledgements if they wish, and not otherwise.

Method

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One schedule, built the same way for everyone. Every entity in the stack is treated as a dated schedule of cash commitments against dated cash sources. Debt, leases, take-or-pay purchase obligations, guarantees and vendor credit are commitments with dates; operating cash flow, contracted receipts, refinancing and sponsor support are the sources. The model is that schedule, built identically for nine entities from the registers, with two things attached to every commitment: what secures it, and who holds the other side.