What are markets that people dislike? If it is that people dislike large unregulated markets. there are some more reasons...
First, large markets encourage forming monopolies. Many people have personal gripes of ths kind: there was a relatively small company or a niche company that produced a product that was a good fit. It got bought by a larger company and now produces utterly unusable product in order to avoid competing with low-quality offering of the buying company. Also, any anti-trust case you have heard of is enabled by large-scale markets: you need national market for an antitrust case to make national news. Availability heuristic adds to the perception that “large markets = large and abusive monopoles”, which is sometimes true and sometimes not true.
Second, markets are not simply “inherently probabilistic”. Large-scale high-liquidity markets produce randomness that they call volatility. Price changes in exchanges do not change drastically more on Monday than on Wednesday, although on Monday there are two days worth news without to incorporate into prices (even if we are speaking about some natural-events-depending commmodity like agricultural produce where there are more weather predictions than mergers). News mentioning markets do not try to hide this.
What are markets that people dislike? If it is that people dislike large unregulated markets. there are some more reasons...
First, large markets encourage forming monopolies. Many people have personal gripes of ths kind: there was a relatively small company or a niche company that produced a product that was a good fit. It got bought by a larger company and now produces utterly unusable product in order to avoid competing with low-quality offering of the buying company. Also, any anti-trust case you have heard of is enabled by large-scale markets: you need national market for an antitrust case to make national news. Availability heuristic adds to the perception that “large markets = large and abusive monopoles”, which is sometimes true and sometimes not true.
Second, markets are not simply “inherently probabilistic”. Large-scale high-liquidity markets produce randomness that they call volatility. Price changes in exchanges do not change drastically more on Monday than on Wednesday, although on Monday there are two days worth news without to incorporate into prices (even if we are speaking about some natural-events-depending commmodity like agricultural produce where there are more weather predictions than mergers). News mentioning markets do not try to hide this.