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guatemala-poverty-1
José Niño

Extractive Institutions Foretell the Failure of Nations

The disparity in wealth and overall political stability between developed and developing countries lies in their inclusive or extractive institutions, as made clear in ‘Why Nations Fail.’

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Max Gulker

Bitcoin Isn’t an All-or-Nothing Proposition

There are many intermediate cases where Bitcoin has value for specific applications, without “replacing” the dollar, gold, or any other major underpinning of the global financial system.

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Nicolas Cachanosky

On the Delusions of Price Level Stability

The extreme focus on price level stability should have been put to rest by the 2008 financial crisis. But conflicting narratives have enabled it to live on.

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