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There is a grand economic fable that has been unfolding over the past two decades, one filled with mythical creatures and great fantasy. The main character of this fable is the grand wizard of the markets, the Federal Reserve.Like all great fables, it starts with magic. Over the last twenty years, the grand wizard of the markets magically created over $7 trillion dollars by cheating time through the spell of negative real interest rates. This magic fueled the establishment of new economic creatures, the worst being unicorns and zombies. As these new economic creatures fed on the magical money, they pushed out the real creatures from their fantasy land.In 2013, venture capitalist Aileen Lee coined the term “unicorn” for any start-up company with $1 billion

I first became aware of the Property and Environment Research Center (PERC) after moving to Montana and was immediately intrigued by their work. The more I dug into PERC’s research, the more I realized they aligned with my worldview of free market conservation. The CEO of PERC, Brian Yablonski, graciously met with me to discuss PERC’s initiatives. Even after two hours, we had barely touched the surface of PERC’s free-market, conservation initiatives.
Brian caught my attention when he told me about a new insurance fund concept they were working on for the ranchers of Paradise Valley. He explained that ranchers in Paradise Valley, directly North of Yellowstone National Park, were having issues with cattle getting brucellosis from the wintering elk herd. Brucellosis