For some reason this idea is blowing my mind rn: People can be roughly fungible, but relationships aren’t fungible. ‘If I didn’t have you, somebody else would do’ (thanks Tim Minchin!) But once I have you, and spend 10 years building a relationship, someone else will not do.
An infinite exchange rate, or complete lack of liquidity, would simply encode the fact that A doesn’t trust B enough to engage in market activity with them. Some affordance like that is necessary for markets to be non-coercive, I think.
-
-
How is an infinite exchange rate different from simply being ‘off the market’ or uninterested in making a trade with a specific individual?
-
It’s the same
End of conversation
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.
