As America marks 250 years since the Declaration of Independence, rising political extremism serves as a warning. History suggests that societies built on compromise, constitutional government, and peaceful disagreement are far more likely to prosper than those that turn political conflict into violence. | @drspy23
California’s catastrophic wildfires require three ingredients: ignition, abundant fuel, and people or property in harm’s way. The state has made progress, but power-line risks, accumulated fuel, and development in fire-prone areas remain. Until all three are addressed, the recipe for the next catastrophic wildfire remains. | @drspy23
New in the QJAE: Banking crises can be produced by a mismatch of assets and liabilities, which can lead to illiquidity in the financial system. Daniel Sánchez-Piñol Yulee @drspy23 examines implications of arbitraging the yield curve. @mises@PhilippBagus https://t.co/k5z6tJbYE1