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Darrell Duffie

Dealer banks--that is, large banks that deal in securities and derivatives, such as J. P. Morgan and Goldman Sachs--are of a size and complexity that sharply distinguish them from typical commercial...

Leonard E. Read

“Leonard Read’s classic essay, “I, Pencil,” is justly celebrated as the best short introduction to the division of labor and undesigned order ever written. But it holds another, largely...