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151 sats \ 1 reply \ @k00b OP 10 Mar \ parent \ on: Compressing Information for Other Humans and Self mostly_harmless
I wonder if the idea of loss compression applied to money and price could be a genuine criticism of the free market- is it possible for all the points of information to be compressed to price?
I think that's a compelling criticism of the free market. Prices often don't reflect negative externalities. Strangely, I can think of cases where prices do reflect purported positive externalities like in ESG products.
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154 sats \ 0 replies \ @Undisciplined 10 Mar
The side of the free market that people don't pay enough attention to is property rights. The externalities people talk about as problems for the free market are usually a result of poor property rights assignment or enforcement.
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