4 ms·
No, I wasn't thinking of free markets. I was thinking of the bundled concepts of money, markets, capitalism, and the whole mess of technologies we use to alloca
by msellout 11y ago
No, I wasn't thinking of free markets. I was thinking of the bundled concepts of money, markets, capitalism, and the whole mess of technologies we use to allocate resources among the population.
It's more interesting to think about why we want a medium of exchange rather than how to contrast money, credit, and all the other vocabulary built into our current system.
To say that one technology is more efficient than another needs a definition of efficient. How do you want to measure efficiency?
Further, I did not argue that money (as a conflated bag of concepts representing our current system) is more efficient than a centralized authority. It appears so, given recent historical evidence, but that's still just a hypothesis.