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7c Nickel
Apr 27, 2008

Sarcastr0 posted:

I really liked this brief discussion of when markets and are useful, and when they are counterproductive.

https://www.bbc.co.uk/programmes/m000py8t.

Bottom line, we really need to stop reflexively reaching to markets as the default (replacing norms and expectations, and the like), but for a lot of things a regulated market is exactly right.

By a fancy UK banker, even!

I view market forces kind of like fire. Yes, it's very useful for certain applications. But once someone starts talking about "The Will of Fire" to justify why it's ok to immolate grandma you're dealing with cultists.

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