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robotpepitoday at 3:33 PM2 repliesview on HN

what's your point?


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soulofmischieftoday at 5:20 PM

"Market" is a proxy for other things, and different people mean different things when they say it. So when we talk about the "market" wanting or doing something, we aren't always talking about the same thing. This is important to realize, so that we don't conflate separate concepts and talk past each other.

js8today at 4:28 PM

I wasn't really sure how to respond, it seemed obvious to me, so I put your question with the two comments into Claude. I genuinely think it gave a great response. I encourage you (or anybody) to try yourself next time, but here it is:

The second person was essentially unpacking the phrase "the market" to reveal who it actually represents. Here are the top 3 interpretations of their point:

1. The market isn't a neutral arbiter — it's a voting system where money is the vote. When we say "the market decides," we're really saying that people with more money have more say. A billionaire's preference for a luxury yacht counts for vastly more than a poor person's need for affordable housing. So "market outcomes" aren't some objective measure of what society wants — they reflect what wealthy people want.

2. The first person's critique is correct, but misdirected. By saying "the market" is indifferent to people's well-being, the first commenter was almost treating the market like an external, autonomous force. The second person is saying: it's not some mysterious system — it's just rich people's preferences given structural power. The problem isn't the abstraction called "the market"; the problem is inequality in who gets to participate meaningfully in it.

3. The language of "the market" obscures a political reality. Calling something a "market outcome" makes it sound natural, inevitable, and impersonal. But framing it as "rich people's preferences dominate resource allocation" makes it sound like what it actually is — a political and social choice about whose interests get prioritized. The second person is essentially calling out the ideological function of the word "market" as a way to launder what is really a power structure.

The three interpretations overlap, but they emphasize different things: the mechanics of how markets work, the validity of the first person's critique, and the rhetorical/political role of market language respectively.

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