Hello, Welcome to the thirty-ninth issue of Allison’s Ode to the Second Moment, a newsletter about the risks involved in, well, let’s just say a wide variety of jobs. Does technology make markets more efficient? I think we underappreciate how much commerce changed in the past 20 years. Classical economics assumes transparent pricing and buyers and sellers who can easily find each other. But for most of human history, neither of these things were always true. I’d guess that caused all sorts of market distortions, though it is hard to know what the costs (or benefits) were until the market changed.
Allison's ode to the second moment
Allison's ode to the second moment
Allison's ode to the second moment
Hello, Welcome to the thirty-ninth issue of Allison’s Ode to the Second Moment, a newsletter about the risks involved in, well, let’s just say a wide variety of jobs. Does technology make markets more efficient? I think we underappreciate how much commerce changed in the past 20 years. Classical economics assumes transparent pricing and buyers and sellers who can easily find each other. But for most of human history, neither of these things were always true. I’d guess that caused all sorts of market distortions, though it is hard to know what the costs (or benefits) were until the market changed.