The whole point of the ‘market’ -as we #Asutrians have been telling you for over a century- is that the prices formed by the countless interactions of our teeming humanity convey info of the best possible quality to help co-ordinate the most fruitful use of scarce resources 1/x
- the greater the nodes on that market network; the more individual needs and preferences expressed upon it, the better the solutions: the more enriched the ‘spontaneous order’ it throws up.
The scrambling of price signals by state lever-pullers is one evil we often discuss - 2/x
The scrambling of price signals by state lever-pullers is one evil we often discuss - 2/x
- what we don’t address often enough in financial markets (theoretically possessed of the densest and most widespread, most rapid, most frictionless networks of all) is the deadening effect of overconcentration and the move to oligopoly under which we are now suffering - 3/x
- it’s not just the price-insensitive Wizards of Oz sitting behind their #centralbank curtains and arrogating ever-wider ‘mandates’ to themselves, but also the Whales like #Vanguard, as well as the thousands of copy-cat minnows swimming alongside, & the blind-trust #ETFs- 4/x
- Together with the current, monolithic push for #Green finance and the whole apparatus of bans & diktats, penalties & subsidies, forced loans & targeted inflation, cronyism & waste which this will entail, there will be precious little room or means left to continue - 7/x
- the historically unprecedented explosion of prosperity which the last 2 centuries or so have brought, lifting unimaginable no.s out of short-lived, disease-ridden misery, want & oppression: a marvel ONLY made real by the spread of the Free(ish) Markets we are now destroying 8/x
*- “#Austrians”
Grrrrr.....
Grrrrr.....
