Independent Institute

ChatGPT uses “natural language processing” to estimate the sequence of words that users want next in phrases, sentences, and paragraphs. In other words, #ChatGPT is a calculator. Deal with it.

We are thrilled to welcome Phillip Magness as the David J. Theroux Chair in Political Economy. “Phil is a proven intellectual entrepreneur, as David Theroux was, and will bring new energy and vision in showcasing classical liberal ideas, needed now more than ever,” Mary Theroux, Chairman and CEO of the Independent Institute. https://buff.ly/4aprrLU

As monetary officials gather this week for their annual retreat in Jackson Hole, WY to ponder on raising the cost of capital to slay inflation., there will be a more important question looming: What role should the Federal Reserve have in running the U.S. economy? https://lnkd.in/gxZstN_4

Smokey Bear’s advice on campfire safety, proper maintenance of equipment, and home protection is better than blowing smoke on climate change, blaming energy companies, and allowing politicians and bureaucrats to escape accountability.

Can we have a safety net that meets the needs of people who experience misfortune without creating a permanent class of non-working dependents who behave in socially undesirable ways? “Yes,” says John Goodman, the father of health savings accounts—and he shows us how.

There is a lot of talk today in America about inequality—but all of it needs to start (though it usually doesn’t) with this fact: the consumption levels of the poorest 5 percent of Americans today stand at the 95th percentile of all people who have ever lived! Time to revise (drastically) the textbooks!

Gamers should determine their preferred firms and offerings, not antitrust regulators influenced by corporate rivals. Consumer benefits should guide decisions, not protecting powerful companies playing their own version of Call of Duty. | Gary M. Galles

License plate readers may not resemble typical government surveillance. However, their widespread use in the US raises 4th Amendment concerns, urging the Supreme Court to address the issue of police employing this dystopian-like technology. Jonathan Hofer and Leslie Corbly explain👇

Not all usages of “disinformation” and “misinformation” come from people intent on shutting someone up. But a lot are. Daniel B. Klein explains below👇

The human condition spans from misery to happiness. Economic misery arises from #inflation, steep borrowing costs, and unemployment, and economic growth is key to reducing it. Country metrics reveal global happiness levels. Steve Hanke expands on his 2022 Misery Index👇