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A comment on Well-behaved bubbles often make history. Parent comment

Re:Well-behaved bubbles often make history by xwolfi on Wednesday June 16, 2021 @01:07AM (#27525109)
But where I disagree maybe is that it's a market anomaly. It sounds like a human anomaly but the market is here to allow it to be expressed fairly and in the open so that it corrects itself naturally over time.

The alternative is a small group of well educated or armed people planning the economy by 5-year increment for the good of the people. They can be right for very long, but is it fair to prevent us to make mistakes and only allow them ?

The market maybe isnt here to maximize efficiency of outcome, but maximize fairness of access ?

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Re:Well-behaved bubbles often make history by nytgop77 on Wednesday June 16, 2021 @03:12AM (#27525755)
free market does not maximize anything. it just is. fairness is not in the equation. free market (or something similar) is just good enough way to organize economy with good enough outcomes.
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Re:Well-behaved bubbles often make history by nicoburns on Wednesday June 16, 2021 @07:50AM (#27527449)
> free market does not maximize anything.

That's a little too strong. It doesn't maximise efficiency of outcomes. But it does (more or less) maximise profit under free-market rules.

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