Raised on textbooks that obscure the role of institutions, economists often imagine that markets arise on their own, with no help from purposeful, collective action. And, once we recognize that markets require rules, we must next ask who writes those rules.
Tagged with “editorial” (2)
As the Internet has accelerated the creation of all types of content, it’s become more and more difficult to sift through that content and find something of quality. We’ve tried it with machines and even mass consensus but the results are either wrong or lowest common denominator. The irony in all this is that we really need other humans to help us. The vast breadth of content on the Web only highlights what we’ve always relied upon: the valued opinion of others.