In a free society, everyone is allowed to benefit from exchange as best as their knowledge allows—and if they make mistakes, they can learn from them (thanks to the existence of money and money prices). In a hampered market, people are unable to fully apply their knowledge, and errors persist rather than being corrected (and such errors will be then incorporated by people as “knowledge”—further exacerbating the error).
“Ex ante he appraises his situation, present and prospective future, chooses among his valuations, tries to achieve the highest ones according to his “know-how,” and then chooses courses of action on the basis of these plans. It is erroneous, therefore, to assert that a free market society is “unplanned”; on the contrary, each individual plans for himself.”
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- Knowledge only grows when error-correction is possibledevelop
- 1-2f1a Error-correction is the beginning of infinity. All jumps to universality occur in digital systems.
- 1-2g2t3d Because creation (and growth) of knowledge is in essence error-correction, and because being wrong is way easier than being right, knowledge-creating-bearing entities will become more alike (and thrive) across the multiverse
- Money as bridgedevelop
- 13-1a3a2d2 Money facilitates actions, primarily in the form of exchange
- 13-1a3a2d3 Value scales are unified individually—they become more transparent, more measurable, and more comparable to the individual—with money, although never exhaustively
- 13-8a2a Money allows you to deal with change per se, since there is no substantive difference between changes in values scales of others and that of himself in the future
- Ex ante and ex post