Lance A. Brown <[EMAIL PROTECTED]>
> John Williams wrote:
> > there will be decisions made by people, and people do make mistakes.
> You are assuming everyone is a rational actor.
By no means is everyone a rational actor. People make mistakes, act
emotionally instead of rationally, and generally tend to screw things up.
Politicians especially.
> You argue that diverse decentralized systems work better because
> mistakes are uncorrelated and failures are localized.
This is too strong, sorry if I overstated. Mistakes are less correlated
and failures are more localized, relative to government control which
tends to create strong, long-range correlations.
> Instead, we are faced with actors who will collude with each other to
> manipulate markets, subvert systems, and for the short term gain without
> regard to long-term consequences.
Definitely. Such actors exist in government, as well. In fact, they dominate
government.
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