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Robin Hanson: How Global Elites Manufactured Stagnation and How We Escape
From the New World
Adding Manipulators Makes the Prices More Accurate, Right?
In financial markets, typically, the more sheep you have, the more wolves you attract. Sheep make prices more informed, i e, add more noise and the price gets more accurate. If you look at a big stock price like google, compared to a small stock price like cosco, then a the big stock price will be more accurate because there's more people trading it for other reasons. And therefore the price a more noise, more informed traders come in.
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