Homines libenter quod volunt credunt
Posted in Uncategorized on May 5th, 2010
I find the rarity of such defaults—and the willingness of people to lend large amounts of money to borrowers who face no legal penalties if they fail to pay it back—at least mildly puzzling. Presumably the explanation lies in indirect costs to default, reputational and otherwise. That from Spawn of Satan. For non-regular readers of […]
Posted in Price System, Voluntary Society on May 5th, 2010
Few things frustrate me more than participating (or not) in “markets” where there is pricing inflexibility.Many of you I suspect hold a sour place in your hearts for ticket scalpers to sporting events. It is not clear why, however. Think about the service that scalpers provide. When there are more people interested in going to […]
