In Minnesota, the old state flag flies in private yards while the new one flies at City Hall. Beside both, the American flag is still there. It is a reminder that pluralism does not require perfect harmony, only enough shared civic life to tolerate our differences.

A small prediction-market bet on Spencer Pratt becomes a lesson in political judgment, authenticity, and the changing media environment of American campaigns.

My first prediction-market positions, small enough to be a lesson rather than a strategy.

In this conversation with Mikayla Novak, I discuss entangled political economy, the limits of the market-versus-state framework, and why democratic politics should be studied as part of the same social order as economic life.