alt Hacker NewsExactly, these markets exist in the real world, so as their size and use increases, the more likely the odds will influence real world events. Look at sports betting for a much smaller example. Match fixing is known. Electricity markets are gamed for individual profits at the detriment to everyone and the stability of the system, even with regulators trying to keep things stable. Enough "Market for all the things" already..
> Enough "Market for all the things" already..
See, there are two major flavours of pro-market attitudes. The first one is "if we allow many independent individuals to try their own approaches to a problem and let the people with "better" approach to personally profit from it handsomely and make them compete against each other in an environment with objective-ish judgement of "what is better" instead of "impress the (inevitably corruptible) officials to be judged victorious and awarded the fortunes", and also manually guard and regulate against several universally known ways to sabotage such competition, then we'll be able to channel human ingenuity into solving difficult to solve technical problems while also rewarding those who are able to come up with (and implement) such solutions with low overseeing overhead". Of course, such an attitude isn't strictly speaking "pro-market", it's been around since ancient times; hell, the USSR of all places had this attitude in spades until about the 70s or so.
The second one is "Nah, we don't have to try and think about anything ourselves, just let people fend for themselves, they'll figure it out, and it won't have any unforeseen bad side effects, why would it; markets are magical like that!" Yeah, about that...