‹ BackHN Continuity

Thread

The Mafia may be keeping fentanyl out of Italy

204 points · 269 comments · runeks

  1. bilekas · · focus · HN ↗
    I'm no expert, but I've always thought that adding much more risk to the lives of your customers unnecessarily is not good for business.
    1. mdp2021 · · focus · HN ↗
      Soon after John Stewart Mill we assessed that markets are not perfect.

      Accelerations in the different directions of bounded incentives create as-if Brownian motions, - not the stability towards optimality of a perfect organic model.

      Or: what you write is rational, but people are easily not... The supply side should disappear from the market when irrational, but changes are slow..

      1. UpsideDownRide · · focus · HN ↗
        Did we? Because while seemingly obvious nowadays it is not a settled matter in orthodox econ academia.
        1. mdp2021 · · focus · HN ↗
          Yes. Everybody here should be or get acquainted with Herbert Simon - he is both "Logic Theory Machine" and "General Problem Solver" and "linked lists", and "bounded rationality" and "satisficing".

          Herbert Simon - <a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Herbert_A._Simon" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Herbert_A._Simon

          1. TeMPOraL · · focus · HN ↗
            People would benefit from learning some control theory too. A little tinkering with (even abstract) PID controllers can quickly disabuse one of the notion that feedback loops settle instantly.
Open on Hacker News to reply ↗

Unofficial Hacker News client; not affiliated with Y Combinator.