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Re:The Casino-Chip Society: a framework for understanding th... by jrm4 on Wednesday November 30, 2022 @05:59PM (#33809243)
But markets are just as made up as money? I fail to see the difference.
Re:The Casino-Chip Society: a framework for understanding th... by jacobr1 on Wednesday November 30, 2022 @06:10PM (#33809354)
More the study of human behavior under the environmental conditions of markets, or groups within firms. You can study animal behavior in the environment of a zoo, as opposed to say, a savannah or jungle.
Re:The Casino-Chip Society: a framework for understanding th... by throwanident on Thursday December 01, 2022 @07:21AM (#33815302)
If the market is a distributed algorithm, then money is a representation of some of its free variables.

Both are made up in the sense that the algorithm itself can be modified by regulation or social convention. There's even a field of economics dedicated to finding out how to engineer such an algorithm (a mechanism) to satisfy a given objective.

But if the algorithm is more or less stable, then it makes more sense to study it rather than just parts of its state. That's the difference.