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The original sin is the idea that the profit motive on a free market will solve all our resource allocation problems, and that consumption demand should be the ultimate arbiter of social value. Markets are pretty freaking amazing things. But their efficiency relies on assumptions that knowledge economies and software break on pretty much every front. So, it's really no surprise that we're in this mess. I don't really know what would work better, though, in a way that can practically evolve from our existing systems.

by forlorn_mammoth4 hours ago|

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Hey, I appreciate your insight. Especially your observation that when the underlying assumptions are wrong/broken then the model produces less reliable results.

Like you, I also don't know what would work better, nor do I believe any one individual can know.

But I do have some ideas for what would make a good framework for the evaluation?

If the idea is to allocate resources in a way that provides the most benefit to the most people, where most feel they are getting a 'fair deal' or something...

and we have social institutions that convert 'resources' to value (in quotes because time, attention, etc are 'resources'. The key principle is organizing human behavior over time to produce something humans value)...

Companies Religion Sports Government

then think about what value each creates, how it is delivered, how it is captured, ... recognizing that each offers some unique strengths and unique limitations.