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245. The Uncomfortable Truth Behind Economic Inequality | Glenn Loury
The Jordan B. Peterson Podcast
Is the Market a Mechanism for Calculating Very Difficult Application Problems?
Biere: Information is diffuse in society. The idea that a central bureau of a government, a fiat a, coulda effectively manage all the different trade offs and co ordination problems isn't realistic. He says prices carry all the information they need about the relative merits of one or another course of action for themselves. Biere: Our prediction, our margin of error, expands terribly as we move out into the future.
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