If you could invent something to fulfill an economist’s dream, it would look an awful lot like a prediction market. A world where every uncertain future can be priced, hedged and insured against? Kenneth Arrow and Gérard Debreu would approve. A market mechanism to co-ordinate the decentralised wisdom of crowds, ensuring the accuracy of such prices? Adam Smith and Friedrich Hayek sought just that.
Prices consumers pay for a broad range of goods and services rose in line with expectations for February, offering a...
Today at Econlib, we’re joining our friends at Liberty Matters in their celebration of the 250th anniversary of the publication...
Canada’s housing market has become one of the most expensive in the developed world, and the affordability crisis continues to...
ASIA: The major Asian stock markets had a green day today: • NIKKEI 225 increased 1,519.67 points or 2.88% to...
Kevin Warsh, former governor of the US Federal Reserve, speaks with CNBC on July 17, 2025.CNBCKevin Warsh could face a...
In his article “Nations by Consent,” Murray Rothbard reiterated his argument that individual liberty does not envisage atomistic human beings...
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