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Pedantic counter-example and Exhibit A: The endless litany of unraveled crypto scams that keep getting bigger and better, year over year. There's one that's goi
by vkou 4y ago
Pedantic counter-example and Exhibit A: The endless litany of unraveled crypto scams that keep getting bigger and better, year over year. There's one that's going bust right now.
It's the poster child for a perfect market environment, where everyone involved is simply trying to optimize their returns, and there are next to no rules. It's also full of hucksters, thieves, conmen, liars, and flat-out frauds, to the utter detriment of any legitimate commerce in the space.
- danielmarkbruce 4y agoYou don't think the market could sort this out through time? Free market believers don't think the market will sort out every problem overnight - it is pretty much the belief that the bad players get shaken out over time. The harder ones seem to be healthcare (massive info asymmetry) and anything related to pollution (externalities). The market has had time on those and not done so well.