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Economy

The carousel trade (arbitrage)

Imagine two companies which are secretly controlled by the same people. If company A imported some phones, then sold them to company B, it charged VAT on the deal. If company B then exported the phones, it reclaimed — from the government — the VAT it had paid to company A. the integrity of the […] The post The carousel trade (arbitrage) appeared first on Marginal REVOLUTION. CommentsThis is not arbitrage. This is fraud. Arbitrage means risk-free . by SohailRelated StoriesLiberal Economists Sc...

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Technology

Emergent Ventures winners, 54th cohort

Kenny Guo, Krish Chhajer, Luthira Abeykoon Mudiyansela, Toronto, quantum computing. Jolie Gan, Calgary/SF, a publication on science and meta-science. Hudson Mitchell-Pullman, 16, San Diego, how users interact with LLMs to learn. Adnan Manna, 17, Amman, Jordan, finding exoplanets. Heloise Hoffman, Stanford, biomedical research to cure her own rare disease. M.F. Libano-Monteiro, Portugal/LSE, economics education through […] The post Emergent Ventures winners, 54th cohort appeared first on Margi...

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Politics

The Indomitable Trump

No matter how much he’s mocked or hated, no matter how dramatic the situation, Trump never breaks or loses his sense of command

United States
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