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Mutually beneficial does not mean "perfect". Lots of trade may be unfair, especially in hindsight, but at the time the trade occurred, each party sees benefit i
by jordan0day 14y ago
Mutually beneficial does not mean "perfect". Lots of trade may be unfair, especially in hindsight, but at the time the trade occurred, each party sees benefit in the trade. Otherwise, why would they trade?
- trhtrsh 14y agobecause they are forced into a series of incremental trades that are not globally optimal across a lifetim, and cannot do things like borrow now and pay back later at mutually profitable rates, due to lender uncertainty.