3 ms·
> In the absence of a law structuring the sale, money is the best proxy we have for importance. I strongly disagree under these circumstances. Prices are one b
by dwohnitmok 7y ago
> In the absence of a law structuring the sale, money is the best proxy we have for importance.
I strongly disagree under these circumstances. Prices are one benchmark of importance/value and are often useful as such. But Goodhart's Law comes here in full force.
In particular I would argue that when unusual things happen, the usual benchmarks and proxies we have deserve extra scrutiny, since often any discrepancy between a measure and what is being measured is magnified in abnormal times.
And right now times are quite abnormal. Now is exactly when traditional benchmarks of value should be re-evaluated to see if they are still useful under present circumstances.