Nothing’s Free: How Lotteries Work

From Ideas on Liberty, at My brother and I have a game we play from time to time. He calls me with a can’t-miss investment opportunity and my job is to figure out what’s wrong with it. There is always something wrong with it. In fact, the better it…

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Illuminating the Unseen

From Ideas on Liberty, Vol. 49, No. 3, at The good effects of laws are often easily seen. The bad effects, unseen. So observed Frederic Bastiat 150 years ago. His basic insight remains true today. We live in busy times. Information bombards us. In such a world, even that…

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