The model of “applying” discoveries to society, or things “we” could do is at best misleading here. Society is mostly self-regulating, not controlled by outside. And even more not controlled by any “we” that I’m knowingly part of.
EMH isn’t perfect, but it does apply here, in the sense that truly low-hanging fruit has already been incorporated. Anything society is doing wrong or suboptimally (which there are PLENTY of) have pretty strong forces maintaining the inefficiency.
The fact that some equilibrium is inadequate does not imply that the adequate equilibrium is reachable.
Thanks for sharing Dagon, you made me realize a couple of things! I never thought about EMH applying in this situation and that some adequate equilibriums might not be reachable without a very large change.
I still think some of the examples shared by others might be still partially useful to think about when deciding who to vote or discussing issues with other people.
The model of “applying” discoveries to society, or things “we” could do is at best misleading here. Society is mostly self-regulating, not controlled by outside. And even more not controlled by any “we” that I’m knowingly part of.
EMH isn’t perfect, but it does apply here, in the sense that truly low-hanging fruit has already been incorporated. Anything society is doing wrong or suboptimally (which there are PLENTY of) have pretty strong forces maintaining the inefficiency.
The fact that some equilibrium is inadequate does not imply that the adequate equilibrium is reachable.
Thanks for sharing Dagon, you made me realize a couple of things! I never thought about EMH applying in this situation and that some adequate equilibriums might not be reachable without a very large change.
I still think some of the examples shared by others might be still partially useful to think about when deciding who to vote or discussing issues with other people.