One of the craziest examples of how government is objectively worse than free market is: lotteries.
When you bet $10 in a state-run lottery, your expected value could be as low as $5. Yes, an instant -50% return!
Yet we could have lossless lotteries with DeFi where the EV of your bet is (near) 100%. And revenues come from yields on the capital via DeFi. Like @PoolTogether_.
Yet the solution from the free market is banned, while consumers are fooled to get a -50% return on their money instead.
How are state-run lotteries not a scam?
