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}A daily digest of opinions and analysisMonopoly: The Second-Most Dangerous GameThe Democratic Party is trying to channel FDR these days, but Noah Smith suggests they turn to another Roosevelt for inspiration: Teddy the trust-buster. A wave of mergers and acquisitions has led to creeping oligopoly, distorting the economy and hurting workers, families and small businesses alike. (Hey, Republicans could get behind this push, too!)Bitcoin’s Divide Is Good For ProgressFans of bitcoin have long feared the digital currency would be split into two separate blockchains, but when the so-called “hard fork” finally arrived Tuesday, it wasn’t a major disaster. In fact, Leonid Bershidsky says it will be a long-term boon for cryptocurrencies, helping them move toward mainstream acceptance. Meanwhile, Matt Levine has an entertaining story about a bitcoin exchange that’s frankly too complex to summarize here, but trust us, if you’re interested in cryptocurrencies or short-selling, you’re going to want to read it. The Neglected Lessons of a Lost DecadeThe Great Depression may have been the biggest economic mess in U.S. history, but the financial crisis of the aughts was worse in at least one way. Now Narayana Kocherlakota, a former president of the Minneapolis Fed, warns that policymakers are raising the risk of another crisis.Maybe Berating Your Employees Isn’t That SmartIn part one of our theoretically endless series “Why Savvy Execs Should Do the Opposite of What Donald Trump Does,” Kara Alaimo says the president keeps breaking a basic rule of public relations: Don’t attack your underlings. Watch and learn (and if you’re wise, maintain a judicious silence). Before it’s here, it’s on the Bloomberg Terminal. Find out how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more.Ritholtz’s ReadsWhy won’t millennials embrace the stock market? (Barron’s)The great escape: How credit raters ducked reform (Bloomberg)Switzerland’s first-world problem: What to do with $750 billion (Wall Street Journal)(Read Barry Ritholtz’s full daily news roundup here.) Bloomberg GadflyA bucket of water for hot shaleTesla’s first billion is the hardestBuyers bet on infrastructure, with or without Trump(Read more from BV’s sister site for fast business commentary.)Bloomberg L.P. ● 731 Lexington Avenue, New York, NY 10022Web ● Facebook ● TwitterFeedback ● Unsubscribe

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