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  • In Finance, Slow is Good

    “What the central bank RTGS/LSM two-step teaches us is that we need a good balance between fast and slow. Sure, real-time settlement is a nice feature. But let’s also have delayed settlement. If brokerages have a choice to use some combination of two-day and real-time settlement, we may arrive at a socially optimal stock settlement…

    In Finance, Slow is Good
  • Yuval Noah Harari’s Terrifying Pandemic Future

    “Let’s focus on the ethical obligation that now runs rampant in our broken societies: everyone’s health is everyone else’s business. Your wants, desires, habits, and routines are mine to police; after all, if we’re not careful, your body could be the source of the next global disease. That means I, or some national or global…

    Yuval Noah Harari’s Terrifying Pandemic Future
  • The Maoist Roots of Social Justice in Higher Education

    “Those who actually want to make efforts to forward amiable goals like diversity, equity, and inclusion should distance themselves from radical far-left doctrines in favor of one that does not seek political domination while using minorities as a wedge. If that cannot be done, it would be understandable for demands for social justice to be…

    The Maoist Roots of Social Justice in Higher Education
  • Central Planners Send Vaccines to Places Seniors Don’t Live

    “Federal officials monopolized the purchase and distribution of vaccines which were sent to state governments, which micromanaged distribution of vaccines to their counties. Vaccines were then rationed by political preferences (such as defining some jobs as more essential than others) and by random luck after spending hours searching for an appointment.” ~ Alan Reynolds

    Central Planners Send Vaccines to Places Seniors Don’t Live
  • Mastercard’s Crypto Ruse

    “With more corporate powerhouses supporting cryptocurrencies by the month, it appears that crypto is here to stay. Whether those cryptos are the ones currently popular or this announcement by Mastercard acts to initiate a path dependent development process is presently unknown and unknowable. Other recent initiatives by the massive processing firm suggest a focus that…

    Mastercard’s Crypto Ruse
  • The Case for the Deregulated Texas Power Grid

    “Markets learn from outlier events such as this one. Institutions and individuals will adapt in light of new perceptions of weather exigencies and risks. This is the major advantage of any deregulation market: it is adaptive. The same cannot be said for any system of regulated state control.” ~ Jack Nicastro

    The Case for the Deregulated Texas Power Grid
  • Texas Electricity Prices Are Lower Due to Deregulation

    “Contrary to McGinty and Patterson, a close look at the evidence reveals that deregulation and competition have, in fact, reduced electricity prices in Texas. Prices in competitive markets have fallen, while those of noncompetitive utilities have increased. Competition has brought both residential and commercial prices down below the national averages.” ~ Thomas L. Hogan

    Texas Electricity Prices Are Lower Due to Deregulation
  • The Wreckers of New York and their Bitter Rivalry

    “Unfortunately, New Yorkers apparently retain faith in central planning of their lives despite the dismal failures at both the mayoral and gubernatorial level. The political profits of demagoguery will perennially trump the calculus of benevolence. The only ‘savior’ worth trusting is the revival of individual freedom and a vast decrease in regulatory restrictions and tax…

    The Wreckers of New York and their Bitter Rivalry
  • Post-Covid Policy Advice from Ludwig von Mises for Developing Countries

    “Mises’ warnings about misguided government policies remain just as relevant if not more so today, as we see in our own time a new push for increased interventionism, expanded welfare statism, and renewed calls for socialist-style centralized planning. As Mises said, if we want, peace, freedom and prosperity, there is no alternative to the free…

    Post-Covid Policy Advice from Ludwig von Mises for Developing Countries
  • That The Profit Of One Man Is The Gain Of Another

    “It is not exploitation; rather, profit is a reward you earn for helping strangers in ways that waste no resources and leave them available for other strangers. Are firms earning ‘exorbitant’ profit selling natural gas and Covid vaccines? I doubt it. If anything, people scrambling to get their hands on artificially-short supplies indicates that they…

    That The Profit Of One Man Is The Gain Of Another