Free Markets
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From the Land of Financial Bubbles
“For the aspiring startup today, perhaps working away in the venture-cap lands of overpriced unicorns, the history of bubble allegations teaches you one thing: be right or be a bubble. Until the dust has settled, nobody can really tell.” ~ Joakim Book
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The Physics Behind Freedom
“Bejan’s book shows that freedom is actually scientifically good for society. It truly is a groundbreaking fusion of physics and economics. In his case, he sees things through the lens of energy movement and evolution, the literal workings of the universe. Economists call prosperity the result of free people and free markets. He calls it…
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Enterprise Perseveres Through the Crisis
“Though many of them are doing so in the shadows, there are entrepreneurs everywhere who are setting to work to solve the most pressing problems of our present and our future. The businesses those innovators introduce to the world will be all the more significant for the hurdles they surpassed.” ~ Peter C. Earle &…
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More or Less Democratic
“Jones’ discussions are interesting and many of his proposals should definitely be introduced, but they don’t go far enough. Instead, we could do with much less democracy and much more individual liberty.” ~ Joakim Book
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“The Market” Can Deliver Pho and Spring Rolls. It Can Deliver Vaccines.
“I doubt we would be in this mess if we had left vaccine production and distribution to Walmart, Amazon, Grubhub, and Chick-fil-A. In the middle of a global pandemic, it’s too important not to.” ~ Art Carden
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Angst Over High Price-Earnings Levels Likely Misplaced
“Despite the severe disruptions and ‘creative destruction’ that occur from time to time, the returns to capital that fuel innovation and prosperity remain strong. The market is always efficient and fairly priced relative to what is known, but the market can also be above or below its long-term enduring norms for good and rational reasons.…
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Finance Memes and the Collective Influence of Young Retail Investors
“Much like all other behaviors associated with young retail investors, on their own, they seem reckless but collectively they help shift results in their favor. Sometimes they are simply the right choice despite expert opinion. These trends not only demonstrate an interesting short-term market force but also the permanent introduction of new demand side forces…
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China Was More Dangerous When It Was Poor
“In an economic sense, similarities between the U.S. and China are greater than some want to believe. Thank goodness they are. Unlike when China was poor, nowadays its people have a rooting interest in our success. And our people benefit from their success.” ~ John Tamny
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Ten Remarkable Financial Events of 2020
“A year like 2020 educates another generation of traders and corporate managers, contributes to more robust market and exchange designs, and draws in innovators and risk-takers seeking to capitalize on the next crisis opportunity. Whatever 2021 has in store, it is unlikely to replicate financial market conditions witnessed throughout 2020.” ~ Peter C. Earle
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Ronald Coase: A Birthday Appreciation
“Like Adam Smith before him, Ronald Coase remains highly cited but still underrated. His ideas on transaction costs, rules, and organizations were influential, but as I wrote when he passed in 2013, ‘a few minutes with the ‘externalities’ section of almost any principles book, or a few seconds watching and listening to TV and radio…
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From the Land of Financial Bubbles
“For the aspiring startup today, perhaps working away in the venture-cap lands of overpriced unicorns, the history of bubble allegations teaches you one thing: be right or be a bubble. Until the dust has settled, nobody can really tell.” ~ Joakim Book
-
•
The Physics Behind Freedom
“Bejan’s book shows that freedom is actually scientifically good for society. It truly is a groundbreaking fusion of physics and economics. In his case, he sees things through the lens of energy movement and evolution, the literal workings of the universe. Economists call prosperity the result of free people and free markets. He calls it…
-
•
Enterprise Perseveres Through the Crisis
“Though many of them are doing so in the shadows, there are entrepreneurs everywhere who are setting to work to solve the most pressing problems of our present and our future. The businesses those innovators introduce to the world will be all the more significant for the hurdles they surpassed.” ~ Peter C. Earle &…
-
•
More or Less Democratic
“Jones’ discussions are interesting and many of his proposals should definitely be introduced, but they don’t go far enough. Instead, we could do with much less democracy and much more individual liberty.” ~ Joakim Book
-
•
“The Market” Can Deliver Pho and Spring Rolls. It Can Deliver Vaccines.
“I doubt we would be in this mess if we had left vaccine production and distribution to Walmart, Amazon, Grubhub, and Chick-fil-A. In the middle of a global pandemic, it’s too important not to.” ~ Art Carden
-
•
Angst Over High Price-Earnings Levels Likely Misplaced
“Despite the severe disruptions and ‘creative destruction’ that occur from time to time, the returns to capital that fuel innovation and prosperity remain strong. The market is always efficient and fairly priced relative to what is known, but the market can also be above or below its long-term enduring norms for good and rational reasons.…
-
•
Finance Memes and the Collective Influence of Young Retail Investors
“Much like all other behaviors associated with young retail investors, on their own, they seem reckless but collectively they help shift results in their favor. Sometimes they are simply the right choice despite expert opinion. These trends not only demonstrate an interesting short-term market force but also the permanent introduction of new demand side forces…
-
•
China Was More Dangerous When It Was Poor
“In an economic sense, similarities between the U.S. and China are greater than some want to believe. Thank goodness they are. Unlike when China was poor, nowadays its people have a rooting interest in our success. And our people benefit from their success.” ~ John Tamny
-
•
Ten Remarkable Financial Events of 2020
“A year like 2020 educates another generation of traders and corporate managers, contributes to more robust market and exchange designs, and draws in innovators and risk-takers seeking to capitalize on the next crisis opportunity. Whatever 2021 has in store, it is unlikely to replicate financial market conditions witnessed throughout 2020.” ~ Peter C. Earle
-
•
Ronald Coase: A Birthday Appreciation
“Like Adam Smith before him, Ronald Coase remains highly cited but still underrated. His ideas on transaction costs, rules, and organizations were influential, but as I wrote when he passed in 2013, ‘a few minutes with the ‘externalities’ section of almost any principles book, or a few seconds watching and listening to TV and radio…