I wouldn’t say that “in general” but there are some situations where I do think price signals mean little. For example:
prices of expensive modern art
prices of expensive clothes
valuations of some startups
salaries of many CEOs
America today has large income inequalities, but income inequality < wealth inequality < power inequality. One thing the items on the above list have in common is LARPing by the ultra-wealthy.
I wouldn’t say that “in general” but there are some situations where I do think price signals mean little. For example:
prices of expensive modern art
prices of expensive clothes
valuations of some startups
salaries of many CEOs
America today has large income inequalities, but income inequality < wealth inequality < power inequality. One thing the items on the above list have in common is LARPing by the ultra-wealthy.