The only two ways to coordinate human societies at scale are free markets and physical power. Any ideology rejecting free markets is just advocating for power. Socialism, communism, and fascism all converge to the same endpoint - rule by the biggest thug.
-
nash equilibrium for a free market will periodically create imbalances that concentrate power, and the winner will get rid of the free market. going to need an external stabilizer
There is no external stabilizer. The state is not separate from the people who constitute it, the systems it interacts with, or the context of its existence
-
-
the state itself is the external stabilizer. when a free mkt creates a monopoly, you want a mechanism that enables restoring the mkt instead of oligarchy or a different monopoly.
-
Right. That's the theory. But regulatory capture is what actually happens.
- Show replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.