Further Outside the Box

Terrorism Markets

In the case of 9/11 there was lots of valuable and relevant information available before the attack took place. What was missing was a mechanism for aggregating that information in a single place. A well-designed market might have served as that mechanism.

—James Surowiecki, in Slate Magazine

The difficulty lies not so much in developing new ideas as in escaping from old ones.

—John Maynard Keynes, British economist

WHEN TOM RIDGE BECAME US Secretary of Homeland Security in 2003, he said that innovation and new ideas must be a cornerstone of the fight against terrorism. One of Ridge’s priorities was “encouraging new projects and innovations from entrepreneurs.” Senator Ron Wyden of Oregon jumped ...

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