A delay in government tax refunds probably contributed to February’s defaults on auto loans and declines in used-car prices. Of course, that doesn’t necessarily mean everything is hunky-dory in the subprime auto space.
- How economics has evolved since the crisis
- Erica Grieder on the Texas model
- An experiment in Kenya
- Sebastian Edwards on why economic populism always disappoints
- Newly conceivable ideas in economics
- The brief history of Airbnb, and what’s next
- Steven Johnson on how play shaped the modern world
- Michael Mauboussin reflects on thirty years of markets, cognitive biases, luck vs skill, and more
- The social media we deserve
- Trading Places and those frozen orange juice futures
A chat with Andrew Lo about the adaptive markets hypothesis, and the hosts discuss the lessons of a famous call to sell stocks.
Between 2012 and 2014, the established rhetoric coming from bitcoin’s staunchest supporters was that the cryptocurrency would disrupt payment clearing costs, kill-off intermediaries and economically bank the unbanked. Now that bitcoin is failing on most of those fronts, bitcoin purists claim all that was just fake news. Apparently the movement’s real purpose was to establish a bitcoin-based reserve system that mirrored established banking hierarchies.