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> These orgs are not truly functioning per market principles, yet for various reasons are stuck in a captive energy state that no one dares to disturb. All sig
by ajkjk 3y ago
> These orgs are not truly functioning per market principles, yet for various reasons are stuck in a captive energy state that no one dares to disturb.
All signs point to market principles leading directly to this kind of situation. It seems like markets produce ruthless competition but that's a rudimentary and naive extrapolation from the prediction.
Reality gives good evidence to a more sophisticated prediction: that, in times of non-scarcity, markets produce docile mediocrity, because everyone's goal is to keep their job and make enough money and status to survive, rather than to maximize their money or status, and mediocrity attains that.
- marcosdumay 3y agoAbsolutely this. People keep thinking about markets as some all-knowing relentless optimization machines. But they are just a bunch of distributed computing acting on extremely limited data trying to act over a completely chaotic environment. Markets are neither all-knowing nor relentless. They are always extremely conservative and risk-adverse. That holds for times of crisis too, they just become a little bit less risk-adverse.