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Financial Markets and the Knowledge Gap

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The Dirty Little Secret of Finance: Asymmetric Information

It's an old concept that deserves new attention: Financial markets are driven by differences in how much people know. Noah Smith argues that information asymmetry, which is nothing more than a nuisance in most markets, is central to how finance works. 

Google Gets Cozy With Government

The tech giant's reach in Washington goes beyond every browser: More than 250 Google employees have joined the federal government (or vice versa) since 2009, including 31 ex-Googlers in the White House. With that in mind, Justin Fox examines how well the company's interests been served during the Obama years.

Shaming Could Be the Best Fix For Olympic Doping

Let's face it: Enforcing social norms isn't pretty, but it usually works. As Olympic officials consider how to keep athletes from using performance-enhancing drugsCass Sunstein points to the bright side of public shaming.

Early Returns From Seattle's Minimum-Wage Experiment

It's been 16 months since Seattle boosted workers' baseline pay from $9.50 to $11 an hour (part of a large plan that will lead to a citywide $15-an-hour wage). So how has the city fared so far? Megan McArdle says the lowest earners took home a tiny bit more, if they kept their jobs. But not all of them did.

Don't Expect Instant Gratification From New Tech

Technology reaches the market at the height of the hype cycle, not when it can deliver on its promises. So Leonid Bershidsky urges early adopters to think of themselves as product testers and keep their expectations low. 

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