[Pen-l] Paul Davidson sums up

[Charles Brown <cdb1003@xxxxxxxxxxx>]

Since people are flawed mistake makers, the question becomes 
what institutional arrangements are best conducive to good 
decision-making by people and minimizing mistakes by people?
  What institutional arrangements best allow mistakes by 
people to be corrected by people?  I think theory and history 
argue in favor of markets as opposed to the alternatives on the table.

Neither I, nor Hayek, nor anybody I take seriously, believes
 markets inherently produce a Panglossian result.  All that 
we believe is that markets produce better results than the alternatives.

David Shemano

^^^^^^^^^
CB: What is your evidence that markets produce
better results than the alternatives ?
And for whom are these better results
produced ?

_______________________________________________
pen-l mailing list
pen-l@xxxxxxxxxxxxxxxxxx
https://lists.csuchico.edu/mailman/listinfo/pen-l