What’s Wrong with the Patent System?
Would-be inventors are now more likely than ever to spend their time and attention on building new products and services for startups and open source projects rather than filing for patents.…
The Years of Lyndon Johnson
Sometimes you hear people say about a person, they’re “doing God’s work” — an important task ... so complex, that only God himself could hope to ever see it accomplished, a task that anybody else would find too daunting to even dare an attempt. Robert Caro is doing God’s work here.…
Decoupling in the Nickel Market
An advantage of understanding markets as mechanisms for synchronizing production with consumption is that market price signals are not sacrosanct. Other theories of market price signals, such as the efficient market hypothesis, suggest that market price signals reflect perfect information about available supply and demand, leaving little room for the…
The Problem of Synchronization
Markets play an important role in synchronizing the cycles of production of goods and services with the cycles of their consumption.…
The Origin of Asymmetry
What brings order to the structure of the universe?…