Activity

[...] adult education provides people with option value. It may also help mitigate some of the problems of inequality we described in chapter 6: to the extent that the growth of intangibles disadvantages those with poor skills and makes some skills obsolete, the availability of training offers a wa…

[...] Establishing these kinds of exchanges is a major undertaking, requiring significant coordination between rights-holders, content platforms, collection agencies, and governments. But it may be worth the effort: efficient markets and platforms for exchanging IP will be economically valuable in …

The exercise of authority seems like a good description of the Amazon warehouse above. A lot of careful process engineering has combined to allow a system where the optimal route around the warehouse can be computed very efficiently. As the economist Luis Garicano has pointed out (2000), enhancemen…