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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!
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May 2, 2021 18:44
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7c Nickel posted: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. From the linked lecture - "when we grant an entity infinite wisdom, we enter the realm of faith. Faith can guide life, but blind policy, and such cognitive capture led to the self-cancellation of the policymakers’ judgement as only the market knows. And such trust dictated that the only solutions proposed to market failures were to add more markets, or to reduce market regulation further.” Also a guest star turn by friend of the forums Ed Balls! Sarcastr0 fucked around with this message at 21:46 on May 2, 2021 |
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May 2, 2021 21:27
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