If you could invent something to fulfill an economist’s dream, it would look an awful lot like a prediction market. A world where every uncertain future can be priced, hedged and insured against? Kenneth Arrow and Gérard Debreu would approve. A market mechanism to co-ordinate the decentralised wisdom of crowds, ensuring the accuracy of such prices? Adam Smith and Friedrich Hayek sought just that.
National Economic Council Director Kevin Hassett, one of the finalists for the Federal Reserve chair job, showed support Tuesday for...
Writing on Facebook, AEI economist Mark Perry points to evidence that the tariffs imposed in April by the Trump Administration...
ASIA: The major Asian stock markets had a negative day today: • NIKKEI 225 decreased 668.44 points or -1.31% to...
The MAGA civil war intensified as POTUS Trump lost his battle to bully Indiana Republicans into redrawing their congressional districts....
In the spirit of the Friedman Unit1 as a metric for Iraq war progress (or in his case, what wound...
Donald Trump told Politico’s Dasha Burns that he gives the US economy an A+++++. He posted on Truth Social, “When...
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