[robotpepi]

it seems to me that the problem is quite the opposite. people believe that the "importance of allocation of capital" (good euphemism by the way) is WAY more important that it really is. do we need extra personalized ads in each of our machines? do we need instant financial trades and people optimizing instant transactions? We don't need a sophisticated AI to "inform" the customers.

there is a ton of things that are there simply because at some point people made money out of it, and then lobbied politicians to death to avoid regulation.

[charcircuit]

>do we need extra personalized ads in each of our machines?

If we want local, small, or niche businesses to exist.

>do we need instant financial trades and people optimizing instant transactions?

If we want people to easily get a fair price when they want to buy or sell something.

[robotpepi]

we had local, small and noche business before. and even today.

the point again is that nobody says that certain mechanism of the market can have positive effects. the point is that way overestimated. we have extremely complex procedures that cost insanely amounts of money for stuff like ads. we could have a fraction of that power and people would still know about the products they need, etc.