Markets don't solve coordination problems
What are you talking about? Markets solve the distribution and valuation coordination problem by price signaling. That's the whole shtick.
Markets are a heuristic for solving some computationally hard problems. Heuristics get stuck in local optima. Overcoming local optima is presumably what GP meant by coordination problem.
What are you talking about? Markets solve the distribution and valuation coordination problem by price signaling. That's the whole shtick.
Markets are a heuristic for solving some computationally hard problems. Heuristics get stuck in local optima. Overcoming local optima is presumably what GP meant by coordination problem.