Political Futures Tied to Cash – American Civics Exchange

Decisions being made in Washington are increasingly consequential for the future of private industry. Two Internet entrepreneurs sense an opportunity in giving businesses and individuals a chance to hedge their financial risk when it comes to changes in public policy. The American Civics Exchange is the country’s first commercial market for political futures. The Web-based … Read more

I, Pencil

Leonard Read’s delightful story, “I, Pencil,” has become a classic, and deservedly so. I know of no other piece of literature that so succinctly, persuasively, and effectively illustrates the meaning of both Adam Smith’s invisible hand–the possibility of cooperation without coercion–and Friedrich Hayek’s emphasis on the importance of dispersed knowledge and the role of the … Read more