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by mnemonicsloth
4388 days ago
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Large markets are very smart. Smart is not necessarily nice. Without nice, incremental returns to smart may be negative. Furthermore, the terminal goal of a market is to give some group exactly what it wants. Such groups are often large, and their wants are defined by how their members act -- usually when others are not looking. A market does not care what anyone says they want. It's a wonder the damn things aren't banned. |
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Sorry for posting libertarian downvote-bait.