Tim: “Capitalist economists do love their competition”
To this capitalist and (amateur) economist the striking thing about the economy is not the competition, but the strength and depth of co-operation that pervades it aka ‘division of labour’. The market is an optimiser (like evolution), one which increases coordination, giving resources to people and organisations which use them well, and taking resources from those who use them badly. To look for ‘intelligence’ in the economy is not quite as foolish as looking for intelligence in evolution, but it’s still an error.
Tim: “Capitalist economists do love their competition” To this capitalist and (amateur) economist the striking thing about the economy is not the competition, but the strength and depth of co-operation that pervades it aka ‘division of labour’. The market is an optimiser (like evolution), one which increases coordination, giving resources to people and organisations which use them well, and taking resources from those who use them badly. To look for ‘intelligence’ in the economy is not quite as foolish as looking for intelligence in evolution, but it’s still an error.