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.
Next week, New York City voters almost surely will send self-proclaimed socialist Zohran Mamdani to Gracie Mansion, and he promises...
Conor here: Richard Murphy offers up a defense of nationalism based on a politics of care. He deals with the...
BUSAN, SOUTH KOREA - OCTOBER 30: U.S. President Donald Trump greets Chinese President Xi Jinping ahead of a bilateral meeting...
Humans continue to devise innovative ways to kill one another. Bullets simply will not suffice in modern warfare. Moscow has...
The MSM calls her ICE Barbie, but Kristi Noem, and the sprawling empire she rules as Secretary of the Department...
Unless members of Congress intervene to prevent it, the food stamp program—also known as the Supplemental Nutrition Assistance Program (SNAP)—will be...
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