Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: free markets

The Long Shelf Life of Ayn Rand’s Legacy

Ayn Rand (1905-1982)

The Whole Foods CEO on health care, veganism, and free markets

John Mackey on health care, veganism, and free markets

“The last thing our country needs is a massive new health-care entitlement that will create hundreds of billions of dollars of new unfunded deficits and move us much closer to a government takeover of our health-care system. Instead, we should be trying to achieve reforms by moving [...]

Is Robin Hanson a market fundamentalist?

Niall O’Connor:
Robin Hanson, is what I would term a market fundamentalist – somebody who believes that markets are the primary mechanism for achieving the public good. Recent events have demonstrated that this creed is morally bankrupt. We are, in the words of Michael Sandel, “at the end of an era of market triumphalism”.
Robin Hanson:
I deny [...]

A young Hanson fanboy tries to build a new civilization that would float somewhere on the Ocean, far away from the supremacy of law… and, in the process, lashes out at his like-minded libertarian fellows operating in think tanks and political parties.

He defines “libertarian folk activism” (i.e., the activities of the free-market think tanks and libertarian politicians):
Folk activism broadly corrupts political movements. It leads activists to do too much talking, debating, and proselytizing, and not enough real-world action.
He asks the libertarian people to stop investing in ideas but, rather, in actions:
If a fraction of the passion, [...]

The theory of complexity should be applied to economics so as to better understand the free markets.

A French university physicist and financial researcher:
The supposed omniscience and perfect efficacy of a free market stems from economic work done in the 1950s and 1960s, which with hindsight looks more like propaganda against communism than plausible science. In reality, markets are not efficient, humans tend to be over-focused in the short-term and blind in [...]

I answered the political test designed by the “Advocates For Self-Government” people. Here’s what I got.

People I come in agreement with about the need to free the prediction markets as much as possible —a short list, which will grow, I hope.

Chris Hibbert
Steve Levitt
Koleman Strumpf
Tom W. Bell

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Waiting to see the positions of Michael Giberson, Jason Ruspini, Caveat Bettor, Robin Hanson, Justin Wolfers, Eric Zitzewitz, etc.
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Free Markets –> Free Predition Markets
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