I believe (though I cannot yet prove)
- that the market is the way of nature
- that a market system is the most efficient economic system obtainable by humans
- that large scale government intervention results in economic losses due to queuing losses
- that the price discovery function of the market is the single largest creator of wealth since fire.
- that, absent the constraint of income imposed by a market system, economic participants would have no incentive to communicate proper information to the economy (thus killing the idea of central planning)
- that the inequality imposed on market participants by the market system facilitates greater aggregate and discrete well being
- that said inequality would be greatly reduced and more productive (and therefore tolerable) if we had a proper currency system
While it is easy to attribute my magnanimous view of the market as attributable to the fact that I have benefited greatly (read: disproportionately) from it, the reality is that my defense of the market is much like my defense of nature. I see it for its beauty and elegance. I see it in everyday life, I see how individuals engaging in discrete processes of bidding and offering manage to price and allocate goods and services throughout the entire economy in an almost quantum manner. I defend the market because, much like Adam Smith, I stand in awe of the market
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