terça-feira, agosto 07, 2007

Normandos e saxões (parte II)

“We can reinterpret markets as an evolutionary search mechanism. Markets provide incentives for the deductive-thinkering process of differentiation. They then critically provide a fitness function and selection process that represents the broad needs of the population (and not just the needs of a few Big Men). Finally, they provide a means of shifting resources toward fit modules and away from unfit ones, thus amplifying the fit modules’ influence.”

“Evolution is cleverer than you are. Even a highly rational, intelligent, benevolent Big Man would not be able to beat an evolutionary algorithm in finding peaks in the economic landscape. Markets win over command an control, not because of their efficiency at resource allocation in equilibrium, but because of their effectiveness at innovation in disequilibrium”

“But the bottom line is that people vote with their feet, and the record of worldwide immigration flows, particularly in the modern era, has consistently been from Big Men economies to market-oriented economies.”

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