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My latest Locus column, Wealth Inequality Is Even Worse in Reputation Economies, explains the ways in which “reputation” makes a poor form of currency — in a nutshell, reputation doesn’t fulfill most of the roles we expect from currency (store of value, unit of exchange, unit of account), and it is literally a popularity contest where the rich always get richer.

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/ / News


The Organization for Economic Cooperation and Development — a pro-establishment, rock-ribbed bastion of pro-market thinking — has released a report predicting a collapse in global economic growth rates, a rise in feudal wealth disparity, collapsing tax revenue and huge, migrating bands of migrant laborers roaming from country to country, seeking crumbs of work. They proscribe “flexible” workforces, austerity, and mass privatization.

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