alt Hacker NewsWell my point was that it might be optimal for the one doing the allocation and maximize their returns. That does not mean its optimal for the economy and society on the whole.
Well my point was that it might be optimal for the one doing the allocation and maximize their returns. That does not mean its optimal for the economy and society on the whole.
Actually it does mean it is optimal for the economy as opposed to a central planner who somehow has all the information and does planning with precision. These are mainstream views in economics.