Markets are a type of ecosystem
An ecosystem that is complex, adaptive, and subject ot the same evolutionary forces as nature.
As in nature, evolution makes markets an unparalleled way of effectively solving human problems. But evolution is purpose-agnostic. If the market is oriented toward producing junk and calling it good GDP, market evolution will produce ever more junk. As complex adaptive systems, markets are not like machines at all but like gardens.
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Gardens of Democracy »Gardens of Democracy
True Capitalism - We're All Better Off When We're All Better Off »True Capitalism - We're All Better Off When We're All Better Off
Markets are a type of ecosystem
Market growth judgments requred »Market growth judgments requred
Market outcomes are not necessarily moral »Market outcomes are not necessarily moral
Markets are often wrong »Markets are often wrong
Markets often distribute irrationally »Markets often distribute irrationally
Markets produce great results when tended »Markets produce great results when tended
There is an obligation to shape markets »There is an obligation to shape markets
Economic model detached from reality »Economic model detached from reality
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