michael_nielsen

http://marginalrevolution.com/marginalrevolution/2017/02/vix-show-far.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+marginalrevolution%2Ffeed+%28Marginal+Revolution%29 … The obvious alternative explanation is that the embarrassment should reside with markets as means of social decision

That aside, the post provides also non-market evidence that the world is unlikely to end.

VIX prices this unless everything goes poof all at once, suddenly.

scenario - the Hayekian Pinochet scenario with added bluster is not, for most of us, an attractive one to live in.

U.S. is a democracy, a big difference, plus not clear long-run level of discrimination will be any higher.