EJ still has an Austrian bent to me. Hoping for the divine conditions of the mutually beneficial market, preaching the inevitable failure of any intervention, hoping to return to venture capitalism to test himself in a pure competitive environment. I reckon best to just admit there needs to be some well thought out restrictions, and well funded agencies to monitor and legislate against new scams, despite the obvious opportunity costs. Markets in capitalism in particular, despite a theoretical theory of mutually grateful participants, always end up about one group successfully bending another over a barrel through various information, law making, organisational, access to resources etc asymmetries and twists of fate. If EJ is past his Austrian phase (i think the optimism you refer to means he's not), then surely he'd have to be more in favour of some "commie" restrictions. Otherwise, by my logic, if EJ thinks capitalism and markets are the be all and end all, the goose that laid the golden egg that is not to be interfered with, then he should give up iTulip and get back to trying to be the one standing over the barrel for his own sense of integrity.fficeffice" />