Why I Care About Markets
Just like any other person, I hold beliefs and opinions about the world. I want to understand the world so that I can improve it.
Analysis about the world can lead to carefully considered policies and philosophical stances. But even these well thought out positions suffer from being too slow.
A good public policy takes time to take effect. We need to convince people, design practical implementation, and put it into action. All of which is slow and subject to capture.
A good philosophical position can also be unpractical. While it is good to have a northstar, we are still left with the question of how to make such dreams tangible.
Markets and financial instruments are far more useful. First, they operate in real time so there is less lag between cause and effect. Second, they have the capacity for scale. And third, real material change is made possible - unlike academic debates which may never be truly tested, or proposals that get stuck in a bureaucratic mess.
So business, markets, securities, and the flow of resources are all immediate ways to tangibly impact and improve people's lives.