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Individuals might prioritize personal outcomes over market outcomes, but societies and governments should prioritize the latter.
by harryh 8y ago
Individuals might prioritize personal outcomes over market outcomes, but societies and governments should prioritize the latter.
- pron 8y ago> but societies and governments should prioritize the latter Societies should prioritize according to their values. I don't think that maximizing GDP is a universal value.
- wpietri 8y agoYeah. The consumer optimum is heavily exploited workers, as that drives labor costs down as much as possible. We're looking for a reasonable balance, so the value created by labor is shared between consumer, producer, and the many other people in the value chain.