Posts Tagged ‘ownership’

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    A Mixed Economy: Ownership Incentives

    May 14, 13 • 197 Views • Behavioral Economics, Economic Thinkers, Government, Health Care, Innovation, Labor, Thinking EconomicallyNo Comments

    Thinking about our mixed economy in which government and the market intermingle, I have always gravitated to this quote from former Secretary of the Treasury, Lawrence Summers: “In the history of the world, nobody has ever washed a rented car.”...

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    Asteroids and the Wild West

    May 3, 12 • 99 Views • Businesses, Demand, Supply, and Markets, Economic Debates, Economic History, Innovation, Macroeconomic Measurement, UncategorizedNo Comments

    I’ve been wondering who should own an asteroid. This takes me back, for a moment, to colonial Massachusetts. When many of the first colonists arrived, they farmed communal fields where some got less and others got more. Soon though, unhappy sharing,...