Michael Matulef on Nostr: The rationality of the free market lies not in achieving some optimal or efficient ...
The rationality of the free market lies not in achieving some optimal or efficient state but in its ability to coordinate decentralized knowledge, drive innovation, and adapt to changing conditions. The market process, with its inherent uncertainty and creative destruction, ensures that resources are allocated efficiently over time, even if individual outcomes may not always be rational or optimal.
Published at
2024-04-26 12:12:40Event JSON
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