The Generalist on what to watch in Crypto in 2022. Key points: “Sovereign data could change the internet. Music NFTs are heading for a breakout. DAOs may be used to tackle hard problems. The infrastructure phase is ramping up. Wallets go beyond transactions.”
Paul Heyne: ““Limited government” does not mean government that limits itself; all governments limit themselves at some point. Limited government means government limited by rules that citizens know and can count on. It means a government that revises the rules only in accordance with the rules. Many students of government have in recent years begun to see the limitation of government in this sense as the critical problem facing democracies. The processes of democratic government are falling increasingly under the control of special-interest groups, groups that can use their intense interest in single issues to coerce legislatures into an endless series of enactments that sacrifice the public interest.” [via CafeHayek]
Arnold Kling: “When prices are free to move, there are no shortages. You can create a shortage of gasoline by fixing the price at a penny a gallon. There will be more demand than supply at that price. But if you let the price go higher, demand will decrease and supply will increase. At the right price, they will be in balance. When I read stories of empty shelves in stores, that tells me that prices for those goods have further to rise.” More on price controls from Hoover.