I’m pretty capitalist, but the idea that markets are the smartest large-scale entities we’ll ever invent is deeply depressing. This is why I’m always intrigued by *interesting* distortions. Not tawdry cronyist power grabs, but other kinds of weird unplanned distortions.
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The concept of a "market" is itself an attempt to distort the market.
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Deep!
End of conversation
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That's a very good argument for lefties to continue trying
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Schumpeter. You’ve invented Schumpeter.
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If we “vote” in a market with dollars & also ballots, bullets, and lies, even the creation of a “distortion” is a market force.
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