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Oh, a basic criticism of modeling assumptions is orderly. Though, your particular example of people not changing their behavior because they're unfamiliar with
by vezzy-fnord 11y ago
Oh, a basic criticism of modeling assumptions is orderly. Though, your particular example of people not changing their behavior because they're unfamiliar with a specific terminology is absolutely baffling. The phenomenon exists regardless of whether people are familiar with the lexicon.
Whether or not it's possible to set up markets that self-correct is a different matter. They already do to various degrees even in current hampered regimes, modulo business cycles. Though, we must extend the same skepticism towards state attempts at equilibration if we are to be consistent. But far too much doubt becomes an analytical nihilism.