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Red Flag Warning: These California Wildfires Are ‘Among The Most Destructive Fire Events In US History’ And They Are About To Get Even Worse

The wildfires that are roaring through northern California are already “among the most destructive fire events in U.S. history”, and by the time it is all said and done this could be the worst wildfire season in the history of the state.  So far, fires have scorched more than 250 square miles, and more than 3,500 homes and businesses have already been destroyed.  The official death toll has risen to 21, but that is expected to rise dramatically because over 600 missing persons reports have been filed with authorities.  The worst damage has been done in Napa and Sonoma counties, […]

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Adam Smith’s Destructive Hand

Adam Smith’s “invisible hand” is perhaps one of the most misunderstood concepts in economics. It is usually interpreted to mean that when individuals all operate according to their own self-interest, their actions somehow combine to create a well-ordered, well-functioning society “as if guided by an invisible hand”. To be fair, this statement about the “invisible hand” (from the Wealth of Nations) does seem to mean exactly that: [The rich] consume little more than the poor, and in spite of their natural selfishness and rapacity…they divide with the poor the produce of all their improvements. They are led by an invisible […]

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