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To a libertarian or "austerian" I say: If we desire some form of markets or capitalism, we must live in a bell-shaped world, with a dominant middle class, for that is where customers come from. Neither a petro-fiefdom, a military dictatorship, nor a narco-state can support authentic internal market…

[...] In this approach, the contents of books would be atomized into bits of information to be aggregated, and the authors themselves, the feeling of their voices, their differing perspectives, would be lost. Needless to say, this approach would hide its tracks so that it would be hard to send a na…

Facebook's mission statement commits the company "to make the world more open and connected." Google's official mission is to "organize the world's information." No high-frequency trading server has issued a public mission statement that I know of, but when I speak to the proprietors, they claim th…