@themattsimpson Yes, I see… Maybe issue is “elasticity” of demand wrt degree of institutional change?
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@themattsimpson That’s probably not really right either! Intuitively what he says makes sense, however.
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@themattsimpson The essay seems to depend on intuitions about non-monetary measures of value, and I’m usually skeptical about those, but.
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@themattsimpson I seem to be getting increasingly confused, so maybe he just writes well!
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@Meaningness TFP really needs an e-mail sub. I never remember to read their stuff. -
@TristanSevers No use telling me that :-) I’m not involved. I can recommend an RSS reader if you like… - 1 more reply
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@themattsimpson Not sure I understand… won’t there be demand for jeans, regardless of institutions?
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@themattsimpson
@Meaningness I think what's being captured is a problem of procedural inertia... -
@themattsimpson
@Meaningness ...when government map fails to match social territory, rather than changing the map we hire surrogates... - 1 more reply
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@themattsimpson
@Meaningness The "artificial demand" is for reality to be translated to fit procedural specifications.Thanks. Twitter will use this to make your timeline better. UndoUndo
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