4 ms·
How so? The market is just what people are willing to pay isn't it? Do you think the precious metal markets are wrong?
by d0lph 9y ago
How so? The market is just what people are willing to pay isn't it?
Do you think the precious metal markets are wrong?
- cf 9y agoSee arbitrages, asymmetric information, collusion, and price fixing
- zeroxfe 9y agoThese are all effects of unregulated markets. Markets aren't right or wrong. People decide what's right and wrong, and apply the relevant constraints via regulation.
- cf 9y agoSure, I agree with that. It's not clear the comment I'm replying to does so. If we want to view the market as a phenomenon like soil erosion that's fine. I got the impression that the parent comment was implying markets as a provably optimal solver for resource allocation problems.
- mcguire 9y agohttps://en.wikipedia.org/wiki/Externality https://en.wikipedia.org/wiki/Externality