Good points! I agree with everything, and the way you puts it is clearer.
You’re definietly right that markets do not reduce trust. That was a bad turn of phrase: what I tried to say, and what I think you are saying, is that markets enables transactions with lower levels of personal trust.
And it is very true that markets are great enablers when they allow you to do things not possiblie within your network. Expanding my network to include someone with a truck might (or might not) be an efficient investment for me, for example. I don’t think it would be rational to exit the market. But it is important to remember that there is another direction one can look in, and that sometimes investing in growing your network is more efficient than raising your salary.
Good points! I agree with everything, and the way you puts it is clearer.
You’re definietly right that markets do not reduce trust. That was a bad turn of phrase: what I tried to say, and what I think you are saying, is that markets enables transactions with lower levels of personal trust.
And it is very true that markets are great enablers when they allow you to do things not possiblie within your network. Expanding my network to include someone with a truck might (or might not) be an efficient investment for me, for example. I don’t think it would be rational to exit the market. But it is important to remember that there is another direction one can look in, and that sometimes investing in growing your network is more efficient than raising your salary.