I don’t know how I’d evaluate that without specific examples. But in general, if you think price signals are wrong or “more misleading than not” when it comes to measuring endpoints we actually care about, then I suppose it’s coherent to argue that we should ignore price signals.
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 don’t know how I’d evaluate that without specific examples. But in general, if you think price signals are wrong or “more misleading than not” when it comes to measuring endpoints we actually care about, then I suppose it’s coherent to argue that we should ignore price signals.
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.