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The hidden-hand is a myth. Humans lie and cheat and use psychology to manipulate groups (negating your assumption that "in aggregate" there's such a thing as wi
by vbuwivbiu 9y ago
The hidden-hand is a myth. Humans lie and cheat and use psychology to manipulate groups (negating your assumption that "in aggregate" there's such a thing as wisdom of crowds - there's isn't).
- teilo 9y agoCertainly they do. That is why societies make laws. I am not a Randian.
- vbuwivbiu 9y agopeople lie and manipulate without getting caught - the law is always behind the cheaters. Add to that the irrationality of humans and the idea that the market optimizes the values of goods & services is a myth: prices are arbitrary. (and I am not a communist)