Nightcap

  1. Who betrayed Syria’s Kurds? Amberin Zaman, Al-Monitor
  2. How the Physiocrats confronted France’s empire (Smithian-Misesian-Hayekian federation) Pernille Røge, Age of Revolutions
  3. Strange respect for central banks Scott Sumner, MoneyIllusion
  4. This is just the beginning of Brexit Tom McTague, the Atlantic

Nightcap

  1. Making Canada great for the first time Scott Sumner, EconLog
  2. Detoxifying Brexit Chris Dillow, Stumbling & Mumbling
  3. What’s driving protests around the world? Tyler Cowen, Bloomberg
  4. There’s no telling what’s next” Conor Friedersdorf, the Atlantic

Nightcap

  1. Nozick, State, and Reparations Irfan Khawaja, Policy of Truth
  2. No friends but the mountains Maurice Glasman, New Statesman
  3. The layers of Israel’s Trump mistake Michael Koplow, Ottomans & Zionists
  4. Why hasn’t Brexit happened? Christopher Caldwell, Claremont Review of Books

Nightcap

  1. Not all Indian reservations are alike Ryan McMaken, Power & Market
  2. Is the UK about to become Canada? Scott Sumner, EconLog
  3. Why economists are wrong so often Chris Dillow, Stumbling & Mumbling
  4. Life, fate, and the assault on liberalism Gideon Rachman, Financial Times

Be Our Guest: “How to make Brexit Really Worthwhile – Example: Financial Regulation”

Be Our Guest is an open invitation to NOL‘s readers to participate with us. Pretty much anything is on the table. The latest article comes from the Freeconomist, who is following up on his earlier piece about making Brexit worthwhile via information asymmetries. His new piece is on financial regulation through the prism of Brexit. Check out this excerpt:

I do not want to write a lengthy discussion on the question of which alternative is the least costly in dealing with the incentive problems arising from the implicit subsidy by the taxpayer. There are good reasons to believe an incremental, decentralized and evolutionary system of market-based regulation to be superior to centrally designed government regulation. (4)

But even if this is the case, private regulation arising as a response to the incentive problems resulting from explicit and/or implicit government guarantees is still costly. Indeed, the evolved system of private regulation in the UK banking industry was giving the appearance of a restrictive cartel. If my analysis is correct, this “cartel” served a useful social function, namely to deal with the incentive problems created by the implicit government guarantee. Nevertheless, it also involved costs.

At the root of the problem are the taxpayer guarantees.

Please, read the rest. It’s another excellent piece of work.

And don’t be afraid to submit your thoughts to us.

Nightcap

  1. The threat of fanaticism Chris Dillow, Stumbling & Mumbling
  2. On targeting the price of gold George Selgin, Alt-M
  3. Reinventing language Catherine Charrett, Disorder of Things
  4. Geopolitics and Greenland Jon Rahbek-Clemmensen, War on the Rocks

Nightcap

  1. What does a post-Putin Russia look like? Jakub Grygiel, American Interest
  2. A primer on China’s “People’s Armed Police” Joel Wuthnow, War on the Rocks
  3. How can people be smart consumers, but dumb voters? Chris Dillow, Stumbling & Mumbling
  4. The imperial myths driving Brexit Alex von Tunzelmann, the Atlantic