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[quote user="Inquisitor"]Is it just a natural instability in markets then? If so, what could mitigate it? [/quote] Any market is not a natural thing but an institution created by humans, so I hesitate to call it a "natural" instability. Experimental markets for specific instruments and institutions - stock markets - have been shown
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[quote user="Gabriel"] The answer to my original question, which cookmg helped me to realize, is that in order for the socialist entrepreneurs to establish exchange ratios for producer goods that represent real opportunity costs, the director would have to give them complete control over their capital. But this, by definition , would establish
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[quote user="Gabriel"]In other words, Mises and Salerno appear to be saying that, if people are not risking their own private property, they will not act responsibly enough to be allowed to perform the entrepreneurial function.[/quote] I point out that the interpretation of "risking one's own wealth" to force "responsible"