Huge wrote:
On 2008-06-08, Dan Sheppard wrote:
The Natural Philosopher wrote:
Theocracy, military dictatorship, Soviet style communism, all these star
with a preconception as to what is right and will work, and attempt to
create people to fit the perfect system,and thise ultimately end up
being totally repressive.

I agree with this,

Market based economies at least do not second guess societies shape:
what works tends to flourish and what doesn't falls by the wayside.

But I'm not so sure about this. Isn't this what futures and hedge
markets do?

No. Futures are a bet on which way the market will move, not an attempt to move
the market in a specific direction.

Is betting on society's shape not "second guessing society's shape"?
I'm not a betting man, but I imagine that if I were to put my money on
a horse, I'm trying to second guess which horse will be fastest?".

[Of course, it's easier in futures. The futures market helps determine
where investments are placed, which is the life blood of many
businesses. Which is like a race where every bet on a horse removes a
pound of handicap.]

Dan.