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by Towaway69 668 days ago
> … to be the most efficient

I assume you mean financial efficient. I personally suspect that getting resources out of the ground and to consumers would be a different usage of the word efficient.

Financial efficiency isn’t the same as being efficient in resource utilisation.

The capitalistic systems produces much waste in terms of resources and little or no waste in terms of capital.
1 comments
from-nibly 668 days ago
Financially efficient is resource plus labor efficiency. Money represents resources and labor. Financially efficient cant be anything other than labor and resource efficient.
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mindslight 668 days ago
iff P == NP.

Otherwise the market is just a heuristic for obtaining one type of workable solution and then refining it into a local optimum.

Business thought heartily embraces this when talking about how to make a profit - profit itself is an indicator of non-optimality, and nowhere near a small epsilon for most businesses. But then when criticizing instances where the heuristic has failed and created solutions/structures that look quite non-optimal, so many people want to brush this aside this reality and invoke the efficient market fallacy.

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from-nibly 668 days ago
No I'm saying that if you have found the cheapest way to do something with money (all inclusive, not local) then you have found the fewest resources plus labor as well.
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Towaway69 667 days ago
Would that not imply eating the cheapest food available would also be the healthiest?

Buying the cheapest car would be the most resource efficient and most reliable car?

The implication being that cheap is best, which it most certainly isn’t. In your case cheap = fewest resources used.

But cheap could also be achieved by tax breaks, financial trickery (shifting debt around shell companies), producing products in cheap labour countries and then shipping it around the world as opposed to producing locally with less resources required for transportation.

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mindslight 667 days ago
Yes, I understood that. It's a common fallacy, but in reality markets just aren't fully efficient like that. Reread my above comment.
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