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In computer science or math terms, the market economy is incredibly simple to understand: 1) People are encouraged to locally optimize -- i.e. optimize their o
by kenster07 13y ago
In computer science or math terms, the market economy is incredibly simple to understand:
1) People are encouraged to locally optimize -- i.e. optimize their own happiness. But as any psychologist would point out, lots of people have no idea how to do that. Kind of a problem.
2) Local optimization rarely achieves the global optimum.