“What would happen, though, if networks actually supplanted markets—if people stopped leveraging the unique contextual information they possess to game markets and instead shared it compulsively, without a view to undermining competitors but out of a quest for social recognition? Do we have to have markets providing an incentive to exploit information to make that information useful and efficacious, to translate it into ‘value’? Or could masses of volunteered information be sorted according to some other principle (‘merit’?) in order to derive facts about the conditions of the economy at various times and places?”—Rob Horning
“… or in other words, does economics (as it’s currently constituted) inherently promote a vision of markets for everything and no rights but property rights?”—JW Mason
“The broken window fallacy is always a fallacy, but creative destruction is a vital part of capitalism.”—Unlearning economics
“China and India didn’t steal our middle class jobs, so much as provide a death row holding cell for jobs that one way or another are going to be automated out of existence.”—shend
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