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Then if markets are always non-efficient, but they "work", I'd argue that they aren't irrational, they are simply quite rational in doing their overall job over
by blantonl 3y ago
Then if markets are always non-efficient, but they "work", I'd argue that they aren't irrational, they are simply quite rational in doing their overall job over time.
- weatherlight 3y agoI think you are confusing efficiency and effectiveness. Markets, when regulated, can be an effective way to distribute goods and services.
- RandomLensman 3y agoEquity markets tend to be reasonably efficient - we can debate the extent of the efficiency and how exactly we define things like "weakly efficient" etc.