AT&T’s proposed merger with the media giant Time Warner has prompted an outcry across the political spectrum, raising worry that a corporate behemoth could control a huge chunk of the U.S. telecommunications infrastructure, along with the content that flows through it. The complaints should be familiar: Almost a century ago, in the age of radio, the phone company tried …

  Have a look around the web — even when it isn’t Halloween — and you will see headlines that seem to be designed to frighten investors: ‘These Are the Scariest Charts…’ ‘3 Reasons Everyone Is Spooked…’ ‘Fright Night at the Stock Market’ ‘Inflation Fear Fuels Bond Rout’ ‘Fear and Uncertainty in Cattle Markets’ These clickbait headlines should be little …

  Modern economics has little room for parasites. In the vast majority of models, there are only buyers and sellers —there’s no one who just comes up and steals your money. In the real world, of course, there are parasites galore — thieves, con artists, fraudsters, extortionists and more. In the long term, the amount of parasitism in any system …