13-1a3a1h The market tends to establish and maintain as high a quality of forecasting as is humanly possible to achieve

But it is never perfect.

“The man who has bought a good to rent out at what proves to be an excessive capital value has only himself to blame for being overly-optimistic about the monetary return on his investment. And since successful forecasters are, in effect, rewarded, and poor ones penalized, and in proportion to good and poor judgment respectively, the market tends to establish and maintain as high a quality of forecasting as is humanly possible to achieve.”

Next:

• 13-1a3a1i The market’s encouragement of successful forecasters fosters a relation of final equilibrium between present capital value and actual future rents

Related:

• On success and failure
  • 13-1a2a The action axiom implies success and failure
  • 13-1a3a1f Success in the money economy implies adaptation to others (including distant ones), not merely to its surrounding environment
• On forecasting, predicting, and adaptingdevelop
  • 5-1b1a2d Knowledge is by definition unpredictable
  • 9-4b2b The evolution of ideas (memes) is somewhat intentional, whereas that of genes are random AND cannot be rejected