Billionaires aren’t making life unaffordable; government officials who overregulate housing, trade, and technology are

we spend more than double as a % of GDP than we did decades ago!! for literally no improvement in outcomes

truly fascinating that every book flagged as potential sign of "far-right extremism" argues that the individual has rights the state can't take away when a government flags its own foundations (and the foundations of every western liberal democracy) as extremism it may be time

Milton Friedman: “I am not a conservative. I’ve never been a conservative. Hayek was not a conservative.” “We are liberals in the true meaning of that term: concerned with freedom. We are not liberals in the current distorted sense—those liberal with other people’s money.”

Many people, even self-described conservatives, think socialism would work if human nature were different. No. Socialism cannot work, even in a hypothetical society of selfless genius saints. Why not? Because socialism centralizes economic choices. How much lumber do we

The classic Hayek critique of socialism is that information about prices is distributed, not centralized. But there is another critique: That empathy, the CORE PRINCIPLE of socialism, is also distributed, not centralized. Empathy is emotional. No two people will feel exactly

The Theory of Moral Sentiments explains why a society that practices Smithian economics and limited govt will be a generous and cooperative society in practice. IMO it is as seminal for psychology and sociology as Wealth of Nations is for economics.

The ETF industry charges 3 to 50 basis points on $19.5 trillion for two functions: deciding which stocks go in a basket, and rebalancing that basket over time. The first function just got commoditized. Vanguard collects $261 million a year managing VOO at 3 basis points on $872

Once you notice that it’s illegal to build anything in this country you can’t unnotice it.

TRUMP – "LET AMERICA BUILD" A huge new EO calling for permitting, environmental, and historic preservation reform, in addition to some other pro-housing nuggets. This is unequivocally a fantastic development coming from the White House. It's clear they understand the problem.

Correct, and this is a strike against deliberative democracy. For example, putting housing construction under democratic rather than market control has caused an affordability crisis.

I think we need to acknowledge that if we are spending $81k per homeless person who is sleeping on the street, our approach has failed and everyone involved in the status quo should be ashamed.

Jerusalem Thiel's concerns are extremely reasonable as usual nonprofits are often ineffective at their original goals, captured by their managers and other interests, and generally misgoverned, all largely in the way you'd expect from first principles x.com/panickssery/st…

PrivateEquityGuy (Mike Markus) This book is a great way to grasp capital allocation. It is written as a fiction narrative like the book, The Goal. a.co/d/0dB6KODV

🚨Coming soon... the answer to every question junior finance professionals have I've been collecting laws & anecdotes for this book since 2005 Screwed on your promo? Here's why! 50% of promised comp? Yup in here too! This is 'Defense against the dark arts'

"It is remarkable, and wildly counterintuitive, not only that the question "Who is in charge of the supply of bread to New York?" has no answer, but that the supply of bread to New York is better managed by a system in which there is no answer than by one in which there is."

Everyone stay in your homes to keep oil prices down. 2 weeks to open the strait

If your criticism of dynamic pricing is that customers will dislike unpredictable prices, then presumably the market will punish businesses that use it and so the alleged problem will resolve itself.

What poeople think regulations do: - Protect consumers from greedy corporations - Ensure product safety and quality - Level the playing field for small business - Prevent market failures and exploitation What regulations actually do: - Create massive compliance costs that only

My favorite fact about the Biden administration was that it set aside 2 trillion dollars for reviving America’s infrastructure and it literally disappeared. Just gone, nobody knows what Buttigieg did with it.