I think it’s a confused model that calls it a paradox.
Almost zero parts of a “free market” are market-decided top-to-bottom. At some level, there’s a monopoly on violence that enforces a lot of ground rules, then a number of market-like interactions about WHICH corporation(s) you’re going to buy from, work for, invest in, then within that some bundled authority about what that service, employment, investment mechanism entails.
Free markets are so great at the layers of individual, decisions of relative value. They are not great for some other kinds of coordination.
I think it’s a confused model that calls it a paradox.
Almost zero parts of a “free market” are market-decided top-to-bottom. At some level, there’s a monopoly on violence that enforces a lot of ground rules, then a number of market-like interactions about WHICH corporation(s) you’re going to buy from, work for, invest in, then within that some bundled authority about what that service, employment, investment mechanism entails.
Free markets are so great at the layers of individual, decisions of relative value. They are not great for some other kinds of coordination.