(Did you guys do away with the "select text, hit reply, and it will be quoted" feature? Doesn't work for me anymore.)

You could certainly posit that. Maybe what it would do is basically turn down the gain on all investment? Or, to jump domains, it would greatly penalize "explore" which, in one guise, you could label as "being efficient". But I do wonder if, in our generally legitimate critique of the malinvestment that fiat regimes produce, we're ignoring some nice benefits, which is a hard incentive on exploration that otherwise would not occur.

I know the efficient market theory rebuttal. Just don't know if I believe that it is wholly virtuous, in practice, in the same way that having a friend who prods you into taking risks you otherwise would not take is often a really good friend to have. At least, for certain kinds of people, in certain environments.