Thursday, June 21, 2018

I have a dream

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.

No comments: