228 sats \ 1 reply \ @Undisciplined 10 Mar \ parent \ on: Compressing Information for Other Humans and Self mostly_harmless
or systematically leaves out the concerns of millions or even billions of beings
I think about this sometimes, but not enough to have anything super interesting to add. It's a reminder that prices solve a problem of overwhelming complexity, but the statement of the problem being solved by prices has certain assumptions built into it.
Prices are the mechanism that allows the problem to be solved, but other institutions and incentives are important to make sure it's the right problem to be solving.
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25 sats \ 0 replies \ @elvismercury 11 Mar
It's a reminder that prices solve a problem of overwhelming complexity, but the statement of the problem being solved by prices has certain assumptions built into it.
Yes. Related: prices solve one problem of overwhelming complexity, but just because a problem is overwhelmingly complex does not mean it is solved by the naive application or prices. Or perhaps, even their non-naive application.
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