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Economics is insofar different that we are not just at mercy of the laws of nature. We have to deal with the nature of humans and their behavior but besides tha
by danbruc 11y ago
Economics is insofar different that we are not just at mercy of the laws of nature. We have to deal with the nature of humans and their behavior but besides that we can make up the rules and could at least in principle set them up in a way that yields a stable system. If it is possible in practice I don't know, maybe stability inevitably leads to terrible inefficient systems or requires enforcing practically unenforceable things. But you are at least correct for our current system, there are several constructs that are not stable and lead to runaway behavior.