Sublime

The result is that a growing range of products and services can be produced abundantly, nearly for free, unleashing potential such as open-source design, free online education, and distributed manufacturing. In some key sectors the twenty-first-century collaborative commons has started to complement, compete with, and even displace the market. What

Valuable new ideas have become quite scarce, and so the small number of people who hold the rights to new ideas—whether it be the useful Facebook or the more dubious forms of mortgage-backed securities—earned higher relative returns than in earlier periods. The “rise in income inequality” and the “slowdown in ideas production” are two ways of descr

De la croissance sans fin à la prospérité équilibrée

there is a well-known pattern in government behavior called financial oppression: There exists an alternative to outright default. “Financial oppression” (imposing on creditors real rates of return that are either negative or artificially low) has been used repeatedly in history in similar circumstances. Investors should be prepared to face financi

To fight for mental and moral changes after policy is changed means fighting alongside growing benefits and

Angel-List

22 Monica Martinez-Bravo, Gerard Padro-i-Miquel, Nancy Qian, and Yang Yao, “Accountability in an Authoritarian Regime: The Impact of Local Electoral Reforms in Rural China,” Yale University (2010), manuscript.