I venture to present my own simplistic morality tale: the small investors are the righteous and weak. Bad regulation, encouraged by Lewis’s misinformation, is the evil. And the high frequency traders will lead the righteous through the valley of darkness that is the stock market.
Last week, New Jersey became just the third state to allow online gambling, after Nevada and Delaware opened up the untapped market earlier this year. Those who are physically in New Jersey can now play all the games offered in Atlantic City without getting off the couch.
Two summers ago, I landed in Lyons, France with six euros in my wallet, only enough for a meal at the local McDonald’s. I was afraid that I could not name anything on the menu besides “royale with cheese,” but instead of being greeted by a French-speaking cashier, I stood in front of a kiosk that displayed food items in photos and multiple languages. It was effortless to order what I wanted despite the language barrier, and I got my food almost immediately after paying at the same kiosk.
To start, the bill is plain good economics for the country. It is an indisputable fact that technology and human capital drive long-term economic growth. However, despite the United States’ dominance in high tech industries, the country’s education system falls behind other nations in the Organisation for Economic Co-operation and Development in STEM graduates.