No rules were broken in the making of the largest IPO ever, revealing a deeper flaw than critics realize.

Governance determines the evolution of an innovation, giving society power over a technology’s ultimate form.

We know simple metrics can’t work for complex problems. So why do we build systems that measure the wrong thing?

Capitalism is a social technology and a system of governance predicated on specific historical developments.

Disambiguating LLMs from other machine learning tech is the first step to making sense of the current AI boom.

The economy's composition changed over 20 years ago, but economic reporting hasn't caught up.

Both AI enthusiasts and market fundamentalists gloss over the context needed to understand complex systems.

Misaligned Markets turns one year old. I reflect on the year and what comes next.

New to Misaligned Markets? Here's an overview of the ideas behind the project.

Catch the highlights from the first year of the Misaligned Markets blog

Issues like right to repair and privacy are extensions of age-old battles over property rights, which are inherent to capitalism.

Here's the latest happening at Misaligned Markets in Feb 2026

LLMs leverage scaffolding and user psychology to appear as slabs of raw intelligence in service of a costly illusion.

A field guide to the metaphors and mechanisms of capitalism’s runaway optimization.

Greed is not just a personal vice but something far more dangerous.

The way players cheese games reveals how markets, networks, and other systems are exploited.