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Start-up tech companies with no revenue are regularly valued to be worth hundreds of millions, even billions, of dollars, and we act surprised when they don’t live up to these expectations. Some people go on a $10,000 vacation but spend twenty minutes each day looking for free parking. We comparison shop for smartphones. We think we have an idea of
... See moreDan Ariely • Dollars and Sense
At the time, a fierce debate was raging about whether centrally planned economies like that of the Soviet Union—in other words, economies where there was a single core responsible for creating and distributing goods and services—worked better than free market economies where planning and production were done by an undirected, decentralized crowd. M
... See moreAndrew McAfee, Erik Brynjolfsson • Machine, Platform, Crowd: Harnessing Our Digital Future
GOAT: Who is the greatest economist of all time and why does it matter?
econgoat.aiThe reality is that members of the American left have, whether they like it or not, become the new conservatives. At least in economic policy, they are usually the defenders of the status quo. In contrast, some of the so-called “conservatives” are the radicals seeking major change; at a recent public event, I heard two African American intellectual
... See moreTyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
Matt Ridley • The Rational Optimist: How Prosperity Evolves (P.S.)
Thinking about government as an economic unit that sells protection led Lane to analyze the control of government in economic rather than political terms. In this view, there are three basic alternatives in the control of government, each of which entails a fundamentally different set of incentives: proprietors, employees, and customers.
James Dale Davidson, Lord William Rees-Mogg • The Sovereign Individual: Mastering the Transition to the Information Age
Start-up tech companies with no revenue are regularly valued to be worth hundreds of millions, even billions, of dollars, and we act surprised when they don’t live up to these expectations. Some people go on a $10,000 vacation but spend twenty minutes each day looking for free parking. We comparison shop for smartphones. We think we have an idea of
... See moreDan Ariely • Dollars and Sense
We are mindful of the dangers of high welfare and unemployment benefits, watching the consequences of this compassionate policy on the job-seeking habits of the unemployed. Visiting the major cities of the industrial countries, I am struck by this curious phenomena of high unemployment and yet a shortage of waiters, cab drivers, nurses and garbage
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