Rethinking Markets

I had an interesting discussion this morning, with a colleague from across town. The topic was commensuration, a concept that we both have been interested in for some time (actually, our intellectual ‘pedigree’ is fairly similar, and I should say with some amount of grace that I’ve leaned on his insights more than he on …

One of the contradictions of economic markets is that they rest on the notion that individual actors, acting in their own self-interest, come together to produce outcomes that are in the collective good. This effectively solves the political problem of social order – market exchange provides its own incentives for participants to distribute scarce resources, …