alt Hacker NewsActually 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.
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.
Actually markets are always rational, perfectly efficient and there are no speculative bubbles? Of course not.
So its obviously suboptimal, only question if there is a more optimal system.
> central planner who somehow has all the information
Every developed country is balancing that with free markets and its the mainstream view that a balanced system is optimal (the exact ratio is of course something’s that not quite settled).