The Incentive Bubble (ungated pdf) - "The fraying of the compact of American capitalism by rising income inequality and repeated governance crises is disturbing. But misallocations of financial, real, and human capital arising from the financial-incentive bubble are much more worrisome to those concerned with the competitiveness of the American economy." [more inside]
How two American kids became big-time weapons traders - "Working with nothing but an Internet connection, a couple of cellphones and a steady supply of weed, the two friends — one with a few college credits, the other a high school dropout — had beaten out Fortune 500 giants like General Dynamics to score the huge arms contract. With a single deal, two stoners from Miami Beach had turned themselves into the least likely merchants of death in history." (via; previously on arms contractors)
Too many laws, too many prisoners - Never in the civilised world have so many been locked up for so little. [previously] (via nc)
Saving Mexico "To weaken the cartels, some argue the U.S. should legalize marijuana, let cocaine pass through the Caribbean and take the profit motive out of the drug trade."
Thirty-six years after the National Commission on Marihuana and Drug Abuse recommended that "simple possession" of pot be decriminalised, Rep. Barney Frank (D-Mass.) has introduced a bill, co-sponsored by Rep. Ron Paul (R-Texas), to remove federal criminal penalties for possession of up to 100 grams (about three-and-a-half ounces) of marijuana and the not-for-profit transfer of up to one ounce (28.3 grams). Drug reform advocates
lit up hailed the legislation as "an important step toward bringing federal law into line with scientific fact, practical reality and public opinion." Is America, at long last, having a collective moment of sanity?
Saddam's Confessions - Given Saddam Hussein's central place in the American Consciousness over the last couple decades and particularly in recent years, I found 60 minutes' interview with FBI interrogator George Piro pretty fascinating.