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WiM045 - The Vervaeke Series | Episode 2 | Wisdom and the 4 Levels of Knowing
The "What is Money?" Show
The Distributed Cognitive System Solves the Copper Shortage Through the Price Signal
A, so i'm getting this from the austrian school of economics. They would say that each individual person has a rank ordered set of actions in mind that's relevant. Demand, we call this economic demand. The actual supply of capital in the world creates the price. So then the price becomes this data point of relevance or salience to individual market actors. If i don't need to know there was an earthquake in chilly that disrupted copper production,. All i need to know is that the price of copper went up. That's how the market problem solves.
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