A Founder of the Blockchain Discusses New Research on Inherent Limitations to Bitcoin

In the latest Stigler Center working paper, Chicago Booth’s Eric Budish argues that game-theoretic constraints imply there are “intrinsic economic limits to how economically important [Bitcoin] can become.” In this review essay, W. Scott Stornetta—a co-inventor of the early blockchain—highlights the paper’s contributions while raising some exceptions with its broader generalizations.  

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Livestreaming Polluters to Enforce Environmental Policy: Evidence from a Natural Experiment in Pittsburgh

Enforcing environmental regulations is controversial and can be costly. But researchers at UCLA and Carnegie Mellon have proposed a low-cost alternative for enforcement—disclosing emissions by live-streaming videos of pollution online—and here offer some preliminary evidence on how well it works.

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