Tuesday, March 17, 2015

A Deep Smithian Insight

This person is not "lovely."  Adam Smith would recognize what's going on here.  This is NOT a functioning system of self-interest.  An XKCD insight:

For more, see Russ Robert's new book on Smith...

1 comment:

Kevin Erdmann said...

Remember the movie "A day without a Mexican"? This cartoon makes it clear that the movie we need even more than that movie is "A day without arbitrageurs".