TBD. But one possibility is that markets as a technology for organizing resources/policy are being quietly undermined by other information tools, and so are likely fail more often and in ever messier ways moving forward. - ThreadSky

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devinfidler.bsky.social • 97 days ago

TBD.

But one possibility is that markets as a technology for organizing resources/policy are being quietly undermined by other information tools, and so are likely fail more often and in ever messier ways moving forward.

Comments

alexis-madrigal.bsky.social•97 days ago

Tho I think markets are likely to be very resilient even as other information tools replace/augment some of their signaling capacities

alexis-madrigal.bsky.social•97 days ago

Yup, this is definitely the terrain I’m most interested in

mikeliebhold.bsky.social•97 days ago

“Other information tools” e.g. algorithmic targeted transactions; too diffuse. to be called markets? Or … ?

devinfidler.bsky.social•97 days ago

Everything from different prices tailored for each person, to memes that effectively coordinate demand and manipulate prices, to direct management of production by AI, to automation of 'entrepreneur' role.

None of it fits how markets are traditionally "supposed" to help society function smoothly.

bkreit.bsky.social•97 days ago

I'd agree with all that and add that there's a deeper cultural issue, which is that far too much of business--both leaders and process/structural stuff--is focused on value capture regardless of whether or not what they're doing is creating value for the larger world.

bkreit.bsky.social•97 days ago

For instance, no one in this crypto bubble/hype cycle is even pretending that there's anything to crypto other than an elaborate ponzi scheme. And it seems to basically be okay with a large segment of the world. We're just inflating some nonsense coins so we can (hopefully) get some other people's $

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