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This piece doesn't go nearly far enough. Blue pill: prices are economic signals reflecting supply and demand and play five distinct roles in capitalist economi
by jonahbenton 5y ago
This piece doesn't go nearly far enough.
Blue pill: prices are economic signals reflecting supply and demand and play five distinct roles in capitalist economies...
Red pill: prices are a statement of relative power between and among interacting entities that occasionally take economic factors into consideration, but only occasionally.
Subsidy irrationality and many other artifacts mentioned in this piece that are difficult to reconcile in a blue pill world make complete sense in a red pill world.