Hayek was right. Twice.

Marcel Popescu mdpopescu at subdimension.com
Wed Jul 3 07:52:39 PDT 2002


From: "Sampo Syreeni" <decoy at iki.fi>

> But when the yield does not go to the one who created
> the master copy, why should anyone create anything, anymore? (Or, more
> realistically, why should people create at an efficient level?)

There's no such thing as "efficient level", except in the tautology "the
market outcome is always efficient". We both created stuff we didn't expect
to be paid for - these emails. Why - this is for psychology to discover.

Mark





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