Proposition 19 already is a winner no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago.

I put forward a pretty general theory that financial markets are intrinsically unstable. That we really have a false picture when we think about markets tending towards equilibrium.

If the bubbles contain a misconception, as they always do, then it can't be maintained forever.

The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money.

The worse a situation becomes the less it takes to turn it around, the bigger the upside.

You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.

The hardest thing to judge is what level of risk is safe.