In my last post, I ridiculed the idea that the Arrow Impossibility Theorem is somehow underappreciated. Do I have an answer to Tyler Cowen's request for a hard-to-popularize result in economics, then?
Yes, I do: the Put-Call Parity Theorem, and I gave my attempt at explaining it herea while back. It's important because it reminds us that markets can phrase the same transaction in several different ways, making it hard to ban particular ones. This forces you to think carefully about exactly what kind of transaction you want to prohibit when you say that e.g. options trading, fractional reserve banking, etc. should be illegal.
8 comments:
Silas,
Is it true that you got banned on Mises.org? Peter Surda said you did...
Yes, I did. Apparently, too much gadflyishness on the IP issue again :-(
While the basic misguided judgment of payday banks as savage may persevere, plainly the business is developing, as is the requirement for quick, secure strategies for sending credit progresses and tolerating reimbursement in business sectors around the world.
I had felt that checks would not be go through close to three times. Obviously that was not the situation for the credit union. Obviously, it piled on about $500 for the measure of the check in addition to the charges.
In case you're the sort of individual, who experiences considerable difficulties charges on time or recalling when your installments are expected, you ought to pick a to pay with post-paid checks or direct charge from your financial balance.
Another approach to take a gander at a payday advance is that you are making out an electronic check for the measure of the progress, in addition to an expense, to be held until your next payday.
In the event that you've at any point got yourself shy of money and waiting on your next paycheque, you may have been enticed by one of the many organizations offering payday advances. Be that as it may, would they say they are justified regardless of the hazard?
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it doesn’t happen on every single reboot, but when it does I have to change the default and reboot for RetroPie to play sounds.
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