Bullshit Quote by Alex Tabarrok
“A bet is a tax on bullshit; and it is a just tax, tribute paid by the bullshitters to those with genuine knowledge.”
About This Quote
Source Blog: EconLog, 2019
Speculative bets act as a levy on misinformation, rewarding those with real expertise.
In simple terms: Bets tax nonsense, rewarding knowledge.
Key Takeaway
Support expertise, discourage speculation.
Themes
economics
information asymmetry
speculation
Mood
critical
analytical
Type
economic
philosophical
When to use this quote
- investment decisions
- policy design
- academic research
Key Concepts
taxation
knowledge markets
Questions to Reflect On
- How to balance discouraging falsehoods with encouraging risk?
- What defines “genuine knowledge”?
A Different Perspective
Over‑taxing speculation may stifle innovation and risk‑taking.
![“I wouldn't mind gigging around the same era as Jesus, after he gives his speech about the meek and how blessed they are and all that type of bullshit, going up there and doing a flat 20 [minutes]. I reckon I'd have better stagecraft and presence than Jesus. Yea, I'm a better stand-up comedian than…” quote by Jim Jefferies](https://sms4smile.com/quotes/img-quotes/0fb/jim-jefferies-8092_blessed_i-wouldn-t-mind-gigging-around-the-same_24477.jpg)
