> Maybe this is a revelation to…someone? I don’t know why Eugene Fama saying this in 2024 is considered news. The guys entire body of research since the 1960s i

> Maybe this is a revelation to…someone? I don’t know why Eugene Fama saying this in 2024 is considered news. The guys entire body of research since the 1960s is about market inefficiencies. Because there are still significant numbers of people, many of whom are in positions of power, who think that increases in market efficiency solve all problems in a society. When you have people thinking that shortages of things like "food", "medicine", "shelter", and "water" can be solved by simply adjusting prices until some people can no longer participate in the market, you don't have a hypothesis, you have a cargo cult, and a psychopathic one at that.