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> I think that we should try to strive for a world where good and moral business sense is better rewarded than great business sense. This stuff gets outcompete
by lwansbrough 5y ago
> I think that we should try to strive for a world where good and moral business sense is better rewarded than great business sense.
This stuff gets outcompeted by the free market every time. You don’t have to look far to find failed attempts to plan economies around the morals du jour. The whole point of free market capitalism is it’s game theory - if something worked better anybody would be free to use that better method. Humans have a consensus on what better means, and free markets are structured around that (+ a sane amount of government oversight because humans act dumb at scale.)
- taurath 5y agoThe structure of the market is such that massive scale and non-local business has been winning out lately, but that has not always been the case. I’m not arguing against capitalism here (plenty of arguments to be made tho), but against the incentives of our current policies.
- CRConrad 5y agoWhen market mechanisms lead to a sub-optimal outcome "within" the economy, that's called a "market imperfection" or "market failure". The fact that these things exist show that "the free market", while perhaps the best system ([Citation needed]) is certainly not perfect. On the meta-level, should the fact that "the free market" wins out even though it is perhaps not the best system -- at least according to many (most?) people's morals "du jour", however long that is -- be called a "meta-market imperfection" or a "market meta-failure"?