PayPal's Private Governanceby EDWARD STRINGHAM
Mar. 06, 2013
1.The Huffington Post Is What Happens When There's No Men In The Room
2.Hungary PM: Clinton is George Soros Puppet, Wants to Overrun EU With Millions of Muslims
3.The Guardian: 'Revolution' Possible in 2043 When Whites Become Minority in U.S.
4.Another Bogus 'Hate Crime': Muslim Teen Killed by "Islamophobe" Actually Killed Himself
5.Austria's Own Trump On Cusp Of Winning Presidency
6.Rapper Threatens to Kill Donald Trump If His "Momma's Food Stamps" Are Taken Away
7.Trump Destroys Hillary in Under 3 Weeks, Now Leading in Two National Polls
8.Trump Takedown of Hillary Confirmed In New Washington Post-ABC Poll
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.