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That's why it's a market. If they do that, and you seem the pushing policies that you don't think will work, you and everyone else who likes money can bet again
by darawk 6y ago
That's why it's a market. If they do that, and you seem the pushing policies that you don't think will work, you and everyone else who likes money can bet against them. Bribery would be prohibitively expensive relative to the value gleaned, if the market were liquid.
- mola 6y agoThis sound like dogmatism. Markets fail, a lot. The fact a thing is a market is not a guarantee for the intended consequences. At most it adheres to a paradigm of thinking which is now very popular due to percieved successful past.
- darawk 6y agoMarkets do fail in certain circumstances, but I outlined a specific mechanism. If you think there's a way for that mechanism to fail, i'd be interested to hear it, but just saying 'markets sometimes fail' in a generic sense, isn't really much of a counter argument.
- rjmunro 6y agoI disagree, I think bribery would be cheap and legal. The value of the 40 year future payoff would be tiny compared to the value of getting what you want now. You might be able to reduce this issue by issuing 1000 LPFs, giving politicians only 1, and making rules that they are only allowed to sell on the public market, not in a private deal. Then in order to bias the market you'd have to spend 1000x what the politician will receive.