Re:25 years of coding, and I'm just beginning
by gjm11 on Monday January 21, 2019 @07:55AM
(#18960040)
Oops! I accidentally the last sentence. It should say something like: "It claims (I haven't checked any of its empirical claims or its theoretical analysis) to find the effects I described in the paragraph above: there are contracts, the market does its thing, and the result is efficient resource allocation."
But allegedly it turns out that in at least some cases where you have beekeepers and apple farmers near to one another they do trade with one another -- with e.g. contracts stipulating what sort of bees the beekeepers are going to keep -- and the market does do its thing, and the result is efficient allocation of resources.
Here's a paper by Steven Cheung about bees and apples in the Pacific Northwest. It claims (I haven't checked any of its empirical claims or its theoretical analysis): https://www.jstor.org/stable/724823