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Our economic systems weren’t invented. They’re all hacks on top of hacks on top of hacks. Every economic theorist of note is well aware of that and they always
by barry-cotter 5y ago
Our economic systems weren’t invented. They’re all hacks on top of hacks on top of hacks. Every economic theorist of note is well aware of that and they always have been. Everyone who has tried to build a new complex system from scratch has failed. Usually they’ve failed completely but occasionally they’ve gotten something functional at the end, but not what they designed.
I’m reasonably confident every economist knows people give stuff away for free but it’s certainly been true since Adam Smith, whose Theory of the Moral Sentiments is chock full of psychological and philosophical insight.
- amelius 5y ago> Everyone who has tried to build a new complex system from scratch has failed. Has anyone tried to design an economic system recently, based on tools from the information age?
- the_lonely_road 5y agoChina would probably be the best case study available, but they are of course notoriously difficult to get reliable data about. DeFi (Ethereum Decentralized Finance) would be the next best case study but finding someone capable of wading through all of the scams to find the actual projects is going to be almost as hard as getting reliable data out of China.