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> counteract the externalities the transaction creates Doing so uses up more time and resources that could have been put to better use had the transaction neve
by grecy 3y ago
> counteract the externalities the transaction creates
Doing so uses up more time and resources that could have been put to better use had the transaction never occurred in the first place.
- nerdponx 3y agoThis is one of the big problems with relying on the price system exclusively as a mechanism of allocation and regulation. It doesn't work well for regulating externalities when people's budget sets vary across orders of magnitude.