On a day when there is a report out about the confused approach of regulators regarding the $200 billion 'cryptocurrency' market another report caught my eye: Academics study the probability that bitcoin's price will fall to zero - in one day! But a similar calculation would be to find the probability that a meteor hits the earth and wipes out all life - interesting but pretty useless. Cryptocurrencies serve those in failed states quite well, in addition to criminals and tax cheats. Use your common sense!
How likely it is that bitcoin will become worthless? (CNBC)
Acemoglu and Robinson Basically Ignored Adam Smith
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In my *Wall Street Journal* op/ed on the 3 Nobel Prize winners, “A Nobel
Prize in Economics for the ‘Inclusive’ Free Market,” published on line on
the...
2 hours ago