Israeli Attacks Across Gaza Kill Five Palestinians, Wound 32

Yemen’s Ansar Allah, also known as the Houthis, has told the EU that it doesn’t intend to target European shipping, The Financial Times has reported, as the group has maintained that its Red Sea blockade applies only to Saudi shipping. Ansar Allah began its blockade on Saudi shipping after Saudi Arabia launched airstrikes against the […]

No, AI Won't Make Money Obsolete Authored by Peter Earle via the American Institute for Economic Research, The notion that artificial intelligence (AI) at full bloom might eliminate the need for money reflects a deep confusion about what money is and does. Money is not merely a barter-avoiding convenience layered onto an otherwise frictionless world. It is a solution to fundamental problems of exchange, profound difficulties in coordination, and comparison of alternatives under scarcity. Even in a hypothetical future defined by extraordinary productivity gains and broadly collapsing prices, those underlying problems do not disappear. Instead, they...