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Where would the incentive be to try risky experimental business ventures? To invent new things? I think you underestimate the motivating power of economic oppor
by mgraczyk 11y ago
Where would the incentive be to try risky experimental business ventures? To invent new things? I think you underestimate the motivating power of economic opportunity.
It's wise to let those who are good at allocating resources be in charge of allocating resources. The best way to decide who is good at allocating resources is to create a system in which those who are good at allocating resources have opportunities to do so.
- plonh 11y agoExtracting profit from a system is different from efficiently allocating resources. At an extremely example, consider bank robbery. Then consider LIBOR.