by Joshua Mawhorter
Economic calculation is not an either-or proposition. Market distortions can cause degrees of “calculational chaos.”
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133 sats \ 5 replies \ @SimpleStacker 11h
Our medical system is a great example of absolute calculational chaos and I think almost everyone could agree with that statement
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72 sats \ 1 reply \ @kepford 11h
Indeed and it drives me nuts when people on the right and left speak as if it is a free market of medicine.
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79 sats \ 0 replies \ @Undisciplined OP 10h
You can't have market price discovery when no one knows what the prices are
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33 sats \ 1 reply \ @Undisciplined OP 11h
Yeah, it's not my field but I've listened to a bunch of EconTalk episodes about the insane incentive structure in medicine.
There really doesn't seem to be much downward pressure on the fake base prices because so many parties benefit from pretending the actual prices are discounted.
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42 sats \ 0 replies \ @SimpleStacker 10h
Prices are fake... no one knows the cost before doing the service... it's an absolute mess.
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0 sats \ 0 replies \ @Fenix 8h
drought are also too
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72 sats \ 1 reply \ @0xbitcoiner 10h
It's the old socialism versus capitalism debate. But yeah, the price signals are constantly messed up, even in mixed economies. I don't know that guy, but you can tell he knows what he's talking about.
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33 sats \ 0 replies \ @Undisciplined OP 10h
I know I've read a few of his articles but I'm not sure what he's best known for.
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