@_Hurlock_ @ProfessorZaius It's like Boltzmann brains -- it's logically possible for a cosmic dust cloud to suddenly start thinking.
@ProfessorZaius @_Hurlock_ Sole Austrian 'policy' recommendation is "don't try to second-guess the market".
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@_Hurlock_
@ProfessorZaius To base social policy on such an eventuality would be a little reckless.
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@emcee_graham
@ProfessorZaius @_Hurlock_ As soon as the Neocameral pirate islands declare independence, there's a market.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@Outsideness @_Hurlock_ Is market failure impossible? -
@ProfessorZaius @_Hurlock_ Failure is always possible. There's no superior epistemic position less susceptible to failure. - 2 more replies
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@_Hurlock_
@Outsideness "market failure" is a term in economics meaning a situation in which a free market does not result in efficient> -
@_Hurlock_
@Outsideness allocation of goods. It's whenever a market is not Pareto-optimal. http://en.wikipedia.org/wiki/Market_failure … - 1 more reply
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@_Hurlock_
@Outsideness Was the Canadian government right to not regulate the northwest Atlantic cod fisheries, allowing fishermen to> -
@_Hurlock_
@Outsideness almost completely deplete the cod population? http://en.wikipedia.org/wiki/Collapse_of_the_Atlantic_northwest_cod_fishery … - 1 more reply
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