Markets are not that philosophical

The market economy believes that the only rights that matter at all are property rights. The market economy believes that the only property rights that matter a lot are those that produce things for which the rich have high demand.

One of Brad's notions is too expansive to be of use.

Markets believe that whatever the issue, price it now and close the deal. Markets are an exercise in liquidity management.


On the socialist battles.

Humans pay a price for specialization, it is not comfortable and causes stress.  Specialization of one's personality for strict period during the day is not natural.  Socialist government cannot guarantee you the opportunity to engage in stressful activities. It is unethical, it is not guaranteeing a natural right.

Socialism is a rebellion against being stuck in the industrial labor class.  Government cannot make the task less constraining.  Nor, as we see in California, can the unions make government work like a labor class. Government will always be the diminutive part of the economy. No one really wants the government takeover, they want government grease to escape private sector bottlenecks. Socialism has been dead for some time, we accept the fact that government is at least too different for the task.

The alternative is not something called the market economy. The problem is that markets price anything, including government. This is an asymmetric relationship, the private sector consumes most of the bandwidth with a market mechanism vs a deliberative mechanism. The market inevitably making an educated guess before the government clerks can finish their calculations.

The asymmetry makes government and private sector tend to be relatively prime, one side has to hedge a lot longer to make the complete sequence than the other.  they agree to disagree. We never reach a culmination, we always orbit the two around each other, it will always be that way; it is an artifact of quantization and Hawkin's rule. This is the market make intrusion. The two color system equilibriates when the market make is maximally liquid. So it is the bounded variation problem,, the pit boss needs one side to be somewhat more liquid than the other to prevent flow reversal and collapse, no flow then quantitative history is lost.. That would be market share going to zero and the pit boss applications signs off, it has no risk adjusted clients. This is the boundary condtions imposed for arbitrage free two color banking.

It is an adaptable prime eliminator, the pit boss. It wants the one color to be a consistent divisor into the other color such that the round off error is within contract.  If the numerator goes to zero, it is gone over. But if both numerator and denominator get larger and larger, the pit boss occupies the board, constantly, the system is blocked. So we can see the pit boss has an optimum in the middle, the point where its second derivative power, the power to change the 'Items per basket' is greatest.

When the pit boss maintains its maximum liquidity it is unpredictable but bound.  Then everywhere the ratio of the one color to the other can be scaled within the bounds. For agents this means buy or sell; borrow or deposit. They are the complementary accounting standards. If the standard is kept then sellers queues and buyer queues using the same credit system can use relative price as a gauge of flow sustainability (how many others of it our still out there)..