Capitalism makes sure all deed are done with maximum misery. Sell as high as possible. Buy as low as possible. Haggle until you tire. Work until you can no more. Those are the affordances of the system. To enjoy yourself and the time you’re given on this earth needs resistance. You need to resist. You need to resist the temptation to exploit yourself and your fellow humans. Resist and enjoy what little time you have left.
@kensanata
Actually, I think that happens only if your goal is to maximize your profits.
If you have a certain level of money, at which you can say "that's enough, I don't need more", then the game changes.
Now it matters how much you value your free time. Is an hour your free time worth more than earning additional 5$ ? 10$ ? 100$ ?
@Wolf480pl I agree absolutely. I think that is part of the resistance. Put sadly I have enough friends that say they would like to work less but they don’t not because they need the money but because they want the money. And many spend quite some time looking for the best deal, which sucks a tiny bit of life from them – and makes sure the vendors aren’t enjoying themselves too much, either. Sure, the market is very efficient. But it’s members are also unhappy.
@kensanata @Wolf480pl nothing particularly efficient about markets. Pareto optimality isn't all that, and we don't even have that in actually existing markets today
@Wolf480pl @kensanata "markets are efficient" tends to mean one of three things - pareto optimality is great, price discovery is great, or "central planning kills millions!!!!"
Even taking perfect information as a given, pareto optimality is a very poor definition of "efficiency", and there are many *possible* pareto-optimal configurations with very different outcomes, with no clear way to choose between them.
With perfect information, you can have pareto optimality without markets anyway
@Wolf480pl @kensanata price discovery (which the "efficient market hypothesis" rests on) is fundamentally inefficient. The discovery mechanism *requires* waste. Defence of it typically focuses on the third point about central planning ^^
@lupine @kensanata
One thing I know is that markets are not efficient when not every player has perfect information about the whole market. Which is, in reality, most of the time.
You seem to know about other flaws in markets, which I'd be interested to hear about.