Quote:
Originally Posted by Superman
Guys, I'm really confused. The nice folks over on the PARF Forum insist that markets are "efficient" in the sense that the natural forces of supply and demand reliably keep businesses honest and require that businesses, at least over the long haul, provide maximum value. They say that these forces are enough (again, at least in the long haul) to ensure that poor quality sellers and sellers who are dishonest and/or unscrupulous cannot cheat consumers effectively over an extended time frame. Regulations, they say, are unnecessary because these "efficient" market forces are.....efficient.
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The percentage and myopic vision of those "nice folks" over on the PARF forum is perhaps analogous to the percentage of folks who patronize MM, are delighted by the quality of their work and are in complete denial re those who go to MM and are ravaged mercilessly?
