CDR: Re: Re: <nettime> Rebirth of Guilds

[Jim Choate]

On Thu, 28 Sep 2000, Sampo A Syreeni wrote:

> Aren't you applying this principle rather liberally? I thought it was meant
> to apply to factors participating directly in price formation, nothing else.

No, I am applying it quite literaly to the actors in the market. It was
meant to apply to the market and its consituents in toto. You really
should go back and read what Hayek (and Von Mises, etc.) really said about
competition and free markets.

The facts have been seriously mis-represented.

The requirement is meant to relate to ANY factor in the market that
interacts with the participants and the exchange (not the particular
price for that particular exchange).

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