A lot of bad knowledge is due to lack of clean, laundered $ rather than institution/mechanism design. Either there’s not enough $ driving knowledge production so it has shallowness//rigor problems, or there’s enough $ but it’s so dirty, laundering takes priority over discovery.
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Here my specific definition of “all economics is money laundering” not just things that are legally dirty money requiring laundering, like drug money. But there’s degrees. Knowledge production needs clean money just as entrepreneurship needs smart money.
12:03 PM - 17 Jun 2020
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