Arthur Seldon: “There are eight main advantages of rationing by price over political rationing: it is neutral, informative, cautionary, pacific, humane, non-authoritarian, the essential missing link between supply and demand, and in any event indestructible. Pricing is imperfect, but the imperfections are out-weighed by the advantages. Political rationing, the method of socialism, is not always dissected candidly by socialist academics as the alternative they offer. Yet its defects, abuses and excesses are apparent from the history of socialism. The new form of politicized market offered by market socialists would not avoid the politicization of economic life that markets are designed to remove or minimize. And it lacks the qualities of market, private property pricing of capitalism.” [via CafeHayek]
The Web3 Developer Stack. From Coinbase. “Where web2 applications largely rely on centralized databases, web3 applications are built on decentralized databases (blockchains). This requires entirely new backends and new primitives like wallets. The tools that aid in the creation, deployment, and maintenance of web2 applications are incredibly developer-friendly, thanks to decades of cumulative development. Out of the box solutions, mature infrastructure, shared code libraries, and easy to use frameworks largely make building in web2 a breeze. Web3 on the other hand still requires specialized expertise to interface with complex infrastructure and commonly involves many redundant processes given that the stack is less developed, leaving teams to have to reinvent the wheel. That said, the tooling that will help onboard the next 1M+ web3 developers is rapidly improving.”
strategy+business: “Everywhere you turn, uncertainty seems to be on the rise. Dire climate predictions, unease in the workforce, novel diseases, political and economic volatility. The digitization of everything is monetizing our attention and obliterating stable industries. For the average person, burdened by the weight of uncertainty, negotiating even the smallest of daily decisions has become harder. The simple act of choosing your morning coffee requires sifting through an endless menu of choice. And as for a career? Constantly evolving ways of working make any decision about what technical skills to master and fields to pursue a fraught one. No surprise, then, that recent research points to the increasing need for individuals to not just embrace uncertainty but forge a satisfying life in the face of it. So argue Nathan and Susannah Harmon Furr in their new book, The Upside of Uncertainty, a clever self-help resource for those of us who need a guiding hand in uncertain times. “Every brilliant insight, choice, act, and innovation comes about only after a phase of uncertainty,” they write. “And the uncertainty brought about by every mistake, setback, discouragement, and even disaster carries possibility within it.””
