PayPal's Private Governanceby EDWARD STRINGHAM
Mar. 06, 2013
Polish MP Schools BBC Host On Refugees: 'How Many Terror Attacks Have You Had In London?'
Trump Skips Ramadan Dinner For The First Time In Nearly Two Decades
Protesters Blow Whistles As Trump Sends 'Thoughts And Prayers' to Rep Steve Scalise
Gohmert: FBI's Refusal to Label Scalise Shooting Terrorism Suggests DOJ Compromised by Obama Holdovers
How Big Pharma Is Profiting Off Transgender Mania
Markets have a long history of generating rules and enforcement mechanisms from within (endogenously) rather than requiring market participants to wait for the State. Instead of attributing the success of markets to government bureaucrats and elected officials, we should instead thank PayPal founders like Peter Thiel, Max Levchin, and other providers of private governance who help make markets work.