A Quote by David Graeber
There are markets extending from Mali, Indonesia, way outside the purview of any one government which operated under civil laws, so contracts weren't, except on trust. So they have this free market ideology the moment they have markets operating outside the purview of the states, as prior to that markets had really mainly existed as a side effect of military operations.
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On the one hand, you have markets such as Singapore and Thailand, with an extremely strong inbound booker market and a well-developed tourism industry. You also have markets that are just opening up to tourists, like Myanmar, that have massive growth potential and then markets that are extremely fragmented within themselves such as Indonesia.
I'd like to talk about free markets. Information in the computer age is the last genuine free market left on earth except those free markets where indigenous people are still surviving. And that's basically becoming limited.
Developments in financial markets can have broad economic effects felt by many outside the markets.
Markets can't think about anything beyond about three months. This is very long-term for markets, which is why the important things in life have got to be taken outside of the marketplace.
Markets cant think about anything beyond about three months. This is very long-term for markets, which is why the important things in life have got to be taken outside of the marketplace.
There are no free financial markets in America or, for that matter, anywhere in the Western word, and few, if any, free markets of any other kind.
It is not uncommon to suppose that the free exchange of property in markets and capitalism are one and the same. They are not. While capitalism operates through the free market, free markets don't require capitalism.
Before you start trying to work out which direction the property market is headed, you should be aware that there are markets within markets.
These people say free markets are the way to go, but wink, wink, the markets aren't really free. They're just a protectionist racket, and we have to pay for it all on every level. It's really quite extraordinary, and immoral, and illegal. These things need to be named, and shamed, and outed, and mocked, and prosecuted.
Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.
Do not trust financial market risk models. Despite the predilection of some analysts to model the financial markets using sophisticated mathematics, the markets are governed by behavioral science, not physical science.
Antitrust is the way that the government promotes markets when there are market failures. It has nothing to do with the idea of free information.
In contrast, markets - oft mythologized as "natural" are the most unnatural things going. Libertarians will tell you "market laws are laws of nature", what baloney. Markets - and the other great modernist cornucopian tools - are magnificent wealth generating machines, built ad-hoc, through trial and error, constantly fine-tuned and refined, tinkered, adjusted.
I've played in small markets; I've played in big markets. For me, basketball is inside the arena. It doesn't recognize what market you're in. It's about wins and losses, and that's the way I approach it.
I started in business journalism from the outside, so when I started writing about markets and business, I was struck by the fact that markets seemed to work well even though people are often irrational, lack good information and are not perfect in the way they think about decisions.
Markets are a social construction, they're made from institutions. We in a democratic society create markets, we constitute markets, we bring them into existence, and we shouldn't turn markets over to a narrow group of people who regulate them and run them in their interests, rather they should be run democratically for the common good.
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