3 ms·
in this example it is wasteful but it also decreases risks in the long term. The free market does not have to produce the most efficient solution, it just often
by LeanderK 4y ago
in this example it is wasteful but it also decreases risks in the long term. The free market does not have to produce the most efficient solution, it just often does.
- Sakos 4y agoThe free market is only able to optimize towards local maxima. That maxima might have plenty of downsides that don't affect its performance, but have negative effects on human beings and society that aren't captured by market mechanisms.