Markets respond only to profit changes, and even then they are far from perfect. It’s simply an economist fiction that they are uniquely good at adaptation, one proof being the utter failure of markets to handle the global catastrophe climate change is going to cause.
Markets respond only to profit changes, and even then they are far from perfect. It’s simply an economist fiction that they are uniquely good at adaptation, one proof being the utter failure of markets to handle the global catastrophe climate change is going to cause.