Today’s Reads II

Paul Krugman: “There are always a number of people out there who just can’t accept the idea of fiat money as a technocratic tool of economic management.” #tweet #money #economics
Why regulations are ‘sticky’ and hard to unwind: “Firms typically resist new regulation attempts in order to avoid the corresponding compliance costs. However, once regulations are implemented, compliance costs are often sunk and cannot be recouped. Therefore, existing firms will often resist efforts to remove the very rules they initially fought against, since these regulations become barriers that stand between them and potential competitors who haven’t yet paid the compliance costs. These dynamics all but ensure that there is no influential constituency to support removing regulations once they are enacted.” #regulations #reform #economics #publicinterest
David Rubenstein’s 10 rules for investing in #privateequity funds: “Look at the organisation’s ability to keep people. If… people are always leaving an organisation that is an important indicator.”