Commentary
There is this joke in economics that says two people are walking along and one says “There’s a twenty dollar bill on the sidewalk.” The economist responds: “That cannot be true because someone would have already picked it up.”
There is a weird truth to the joke that in economics class we learn about these things called market forces that no one in particular can influence. The “sophisticated” view of these things is not to care. Markets are efficient and their outcomes are correct. We as individuals are merely along for the ride. We can never outsmart the whole….