Quote Originally Posted by Chris View Post
Speaking of Nash, equalibria may exist in games, but not in markets. Schumperterian creative-destruction is the rule.
Similar to any valid criticism of Leninism, the rule is never think of people as being merely impersonal objects in a theoretical structure. Another important thing that people are led away from is the quality of the actors, especially those with command authority. In our time, unpaid education puts inferior people in superior position. So does the unearned advantage of Daddy's Money.