2 ms·
Markets are a mechanism for allocating resources. Of course, there is neither the perfect market nor the perfect government. It seems to me that the potential
by Tichy 14y ago
Markets are a mechanism for allocating resources.
Of course, there is neither the perfect market nor the perfect government.
It seems to me that the potential for abuse is greater in the government, though. There is one vote every x years, and good tracking mechanisms of what is really being done don't exist yet.
Signal/noise - the difference is that in the market, participants can not simply spend other people's money. They have to come up with real money somehow, which might be a pretty strong signal.