There is enormous inertia—a tyranny of the status quo—in private and especially governmental arrangements. Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable.Uncle Milt. Sort of, I agree, but we usually make things slightly better. Hard to justify the effort. The sandbox will show that, a system with no arbitrage cash, will still allow voters and traders to screw themselves, now and then.
Thursday, June 21, 2018
I have a dream
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