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Yet some how the same regulated market didn’t experience the same problems after their bankruptcy? Come on, you’re really stretching here when there is an obvio
by digitaltrees 7y ago
Yet some how the same regulated market didn’t experience the same problems after their bankruptcy? Come on, you’re really stretching here when there is an obvious answer.
You seem to be looking to blame centralization to fit a preconceived normative view of economics rather than just acknowledging maybe markets were not effective or efficient in this particular instance and in fact suffered a massive distortion specifically because a decentralized profit motive allowed one party to abuse market making mechanisms and hijack the price setting function so crucial to efficiency.
- stretchwithme 7y agoI think if you and I lived on the same street and everybody on our street decided to generate and distribute our own power, we would never create such dysfunctional rules. And if we did, we would probably change it the day after it failed. Centralization enables a lot of good thing but also some bad things. Lobbying thrives on centralization because it is easier for decision makers to scam people they don't know, more likely to happen with centralization.
- digitaltrees 7y agoHave you ever lived in a neighborhood with a home owners association? Any institution that is made up of more that a few people will come up with rules that seem stupid. Even in a small scale like that.