Markets Are Kinda Fake - by Judah - Be Wrong

truly efficient distribution has never been tried

Economics is about grand ideas, the economy itself is a bunch of people. The field includes a bunch of theories for why things happen the way they do. Sometimes, these theories are really good ones and explain things like banking and the dollar’s dominance. Other times, they get things wrong and reality has to show them just how fake some of this stuff is. But people, and what they do (or don’t do), are very, very real. Markets, which are simultaneously an abstract ideal and a real emergent phenomenon, are where those two come closest to meeting. Things that happen in markets seem to…

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