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> Market structures (including "smart markets", with elaborate and perhaps quasi-arbitrary rulesets driving desired outcomes) are quite egalitarian Even smart
by RcouF1uZ4gsC 4y ago
> Market structures (including "smart markets", with elaborate and perhaps quasi-arbitrary rulesets driving desired outcomes) are quite egalitarian
Even smart markets aren’t egalitarian. See for example the response to the DAO hack.
And real markets aren’t egalitarian, see the bailouts.
- lliamander 4y ago> And real markets aren’t egalitarian, see the bailouts A market as heavily regulated, subsidized, and insured by the government as banking is hardly a central example of a "real market". That being said, I'm not even sure what people mean by "egalitarian" in this context, and so I don't know whether the term should be applied to markets or not.