2026-09-09 05:04 UTC
Replies (1)
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@david_chisnall@infosec.exchange 2026-09-09 06:49
@SnoopJ@hachyderm.io anyway, yea, markets are tools for efficiently allocating resources Markets are tools for efficiently allocating resources, but with some very important caveats: They must be properly regulated to incentivise the desired outcomes. Otherwise, they are optimising for something very efficiently, but it’s not likely to be the thing you want.Markets do not perform well where you have information asymmetry. When ‘AI’ companies can outright lie about their products and the press unconditionally repeats those lies, you have too much information asymmetry for markets to work well.Markets rely on aggregate behaviour of a large number of participants making independent decisions. If wealth is too concentrated then they don’t functioning market, you have a centrally managed economy run by a handful of oligarchs.Free markets are not a stable state, they need constant intervention to remain free markets. I wish more free-market fanboys in politics understood how markets actually work. They can be amazing tools but few machines work well if you remove their regulators.