On InTrade, if no systemic risk, and there was not, regulators should stop banned activity, no further major penalty.What exactly from a libertarian perspective could possibly be a justified banned activity? What is Cowen thinking? What's even more curious is Cowen's mention of "systemic risk." It's hard to see how systemic risk would occur without moral hazard created by the FDIC and government bailouts of the banksters. Eliminate the moral hazard creating activities of government and people would pay a lot more attention to their money and eliminate systemic risk. Doesn't Cowen get this?
— tylercowen (@tylercowen) November 27, 2012
Cowen isn't only non-Austrian, it's hard to view him as even libertarian, when he puts out a tweet like this.