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I agree, except with your last sentence. There are many examples of efficient organizations that extract billions from the market from willing participants.
by psychlops 2y ago
I agree, except with your last sentence. There are many examples of efficient organizations that extract billions from the market from willing participants.
- plagiarist 2y agoWhat sort of definition of efficiency are you operating with? A system is not efficient if billions of dollars are "evaporating" out of the system. Yes, the participants of those markets are various degrees of willingness. No, I do not agree that makes them efficient.
- mindslight 2y agoComputational complexity theorists hate this one simple trick! NP hard is a lie! You just have to assert that a given problem has been optimally computed. We all know that physics obeys the whims of politics. </s> It's especially ironic because if markets actually worked the way the "free market" dogma supposes they do, central planning would also work.