Re:Robinhood is limiting purchases of stocks: AMC, Blackberr...
by ballenf on Thursday January 28, 2021 @10:33AM
(#25943387)
> one of the central conceits of capitalism is wrong (i.e. that the stock market isn't a good arbiter of the value of companies)
The "central conceit" is not that the market is a "good arbiter" of the value of a company. Just that it's the least bad one.
The central conceit of every alternative to capitalism is that there's such a thing as a singular, coherent definition of "the value of a company" and that it's consistently, accurately measurable by some central authority.
The "central conceit" is not that the market is a "good arbiter" of the value of a company. Just that it's the least bad one.
The central conceit of every alternative to capitalism is that there's such a thing as a singular, coherent definition of "the value of a company" and that it's consistently, accurately measurable by some central authority.