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“The market” is a psychopath’s wet dream.

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@aral I'm not sure if it was Neal Postman or Michael Heusemann, and this might well be a blend of both, but a key question for any technology is who benefits and how?

Markets are an allocation technology and mechanism.

Who does it benefit? How? At the cost of whom?

I think those become interesting questions.

Economists speak in terms of "market failures". Virtually all of those are actually market biases. That is, statements of who is unfairly advantaged by a market-based system or mechanism.

@aral Markets have a place, but they shouldn't be a totalising paradigm for every human activity.

@bob
What do you think are good places for markets?

Consider also an economic system that does not need money. Then what is a good place for markets?

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