4 ms·
A market that allows gamblers to cause resources to rot rather than lose money on their own bad bets is working exactly as a market should? Seems to me the big
by ab5tract 2y ago
A market that allows gamblers to cause resources to rot rather than lose money on their own bad bets is working exactly as a market should?
Seems to me the bigger magical leap here is in the observer who considers this to be either desirable or necessary.
- vasco 2y agoIf the people that wanted to buy bought, and the people that wanted to sell sold, and there was no fraud, yes.
- ab5tract 2y agoThis is why no one should take capitalist true believers seriously. It’s not an efficient (let alone moral) distribution system if one of its outcomes is spiraling prices that are irreflective of genuine market demand. The whole problem highlighted here is that the people who want to sell cannot sell because the buyers don’t want to eat their consequences and man up to the loss on their gambling.