[extropy-chat] Peak Oil news

[BillK]

On 3/7/06, "Hal Finney" <hal at finney.org> wrote:
>
<snip> Lots of market ideology.
>
> So I would not be too quick to disparage the market consensus.  There is
> sound logic behind it, and few if any institutions apply the same
> discipline and motivation to people making forecasts.
>

You do realise that what you are claiming for markets requires a
degree of faith that is difficult to defend in the real world?

For every economist supporting you, there will be another opposing your view.

<rant on> :)
Markets in the real world are corrupt gambling vehicles for a few rich
people to make a lot of money while ordinary folks lose their savings.
They are manipulated by speculators, subject to speculative bubbles
and crashes, fraudulent businesses, selective monopolies, distorted by
taxation and get-rich-quick schemes.
<rant off>

I've probably missed plenty of targets, but better people than me have
written at length about market failures and distortions.

BillK