Economy – Articles, Analysis, Opinion

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A couple battle floodwaters as they evacuate their Houston apartment complex on April 18, 2016. AP Photo/David J. Phillip

What if Texas’ destructive Tax Day storm had centered on inner Houston instead? It’s why cities should plan for the improbable

Computer models of the storm hitting different areas show how much damage is possible, yet flood maps still focus on where flooding is most likely instead.
At their best, prediction markets aggregate collective intelligence to weigh the likelihood of future events. Fairfax Media/Getty Images

How polling failures, gambling legalization and political gridlock paved the way for the explosive rise of prediction markets

While media outlets are signing deals with Polymarket and Kalshi for their insights into the wisdom of crowds, gamblers are pouncing on opportunities to wager on geopolitics and celebrity weddings.
The first basic income proposals were a reaction to the seizure of common fields by English landlords. George Stubbs/The Yorck Project

Basic income’s appeal today is similar to its roots in 18th‑century England – it’s a way to compensate people for a common good taken for private gain

Today’s basic income proponents say cash payments would be good for everyone. In the 1790s, the idea’s inventor argued something else: It was owed to everyone.