3 ms·
I can't help but wonder if there's a middle ground between people not being able to obtain credit to pursue new enterprises, and entire productive enterprises b
by goda90 1y ago
I can't help but wonder if there's a middle ground between people not being able to obtain credit to pursue new enterprises, and entire productive enterprises being swallowed up in the pursuit of short-term rent seeking.
- Ntrails 1y agoCould such a middle ground exist? Sure. Could someone design a system where that middle ground was a natural equilibrium? Unsure. I don't see how you incentivise the goldilocks behaviour (but I am not the smartest bear so maybe someone else can)
- wizzwizz4 1y agoThere's a good book on this topic by a Scottish philosopher: An Inquiry into the Nature and Cauſes of the Wealth of Nations by Adam Smith, LL. D. and F. R. S, formerly Profeſſor of Moral Philoſophy in the Univerſity of Glasgow.