[ExI] Belief in Market Efficiency

[Stefano Vaj]

On Sat, Jan 31, 2009 at 3:47 PM, Stathis Papaioannou <stathisp at gmail.com> wrote:
> You could argue that yes, it's useful, since without the lure of such
> fortunes certain types of investment with potentially useful
> consequences would not be made.

... an argument which immediately opens the door to the question of
whether this is actually true or not, and whether there would not be
more effective ways to achieve the same results.

Parasitic, hereditary wealth in particular is recognised even by
free-marketeers to have hindered the economic progress during the
Ancien Régime, e.g.

-- 
Stefano Vaj