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The definition is easy: by market efficiency, people mean time (labor market being the only market Adam Smith concerned himself and invisible hand being a refer
by notgoodenuff88 9y ago
The definition is easy: by market efficiency, people mean time (labor market being the only market Adam Smith concerned himself and invisible hand being a reference to how the people themselves will tacitly protect their own interests).
And right now, the sense is that we're spending a lot of our time in jobs that overwhelmingly benefit a rich minority, which is not time spent well it.
When our ability to focus on self-preservation is being expropriated, people revolt
This interpretation isn't even up for debate, IMO. It's been investigated by biologists, neuroscientists, psychologists, medical doctors, philosophers, logicians, mathematicians, physicists, computer scientists.
A curious omission: economists. Very few of re-known willfully admit their own field is being twisted into undermining the majority for the minority.