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We are incredibly market-brained at this point. A certain kind of person loves markets because they provide decisions on complex questions at scale. And like, t
by ToucanLoucan 3mo ago
We are incredibly market-brained at this point. A certain kind of person loves markets because they provide decisions on complex questions at scale. And like, that's not NEVER true, but it also takes for granted a lot of rational thinking among people who act completely irrationally with incredible regularity.
Perhaps our greatest cultural fiction right now is the "rationality" of markets, and people are looking for insight more than ever on our insane world. So that makes perfect sense to me, really.
- Terr_ 3mo ago> A certain kind of person loves markets because they provide decisions on complex questions at scale. And like, that's not NEVER true, but it also takes for granted a lot of rational thinking It also tends to assume a certain hypothetical ideal of perfect information, where all prices and transactions are public, secret deals don't exist, and ownership/interests are never hidden.
- buddhu 3mo agoInformation asymmetry is one of those things that is so obvious that you'd expect it to be fundamental to economics, but it wasn't until the mid-90s that mainstream economics started to take it seriously. https://en.wikipedia.org/wiki/Information_asymmetry https://en.wikipedia.org/wiki/Information_asymmetry