I’m sorry–trying to understand the second paragraph…”it doesn’t follow…that the pattern of prices…bears no relationship to people’s preferences”?
As I was writing my last post, I understood that entrepreneurs are still satisfying consumer preferences; but, I’m reading the Great Deformation and I think it is arguable that the loose monetary policy has created non-productive trades and that much of the market’s foresight is in response to the easy money. Therefore, many people are getting rich that aren’t necessarily in government but conceivably shape government to protect their ends; and, they are probably not providing net value to the economy. Moreover, the preferences of these people that possess so much disposable money create markets in the private sector. Do you believe we can improve the economy by privatizing things that are currently under government purview and by reforming the tax code? I’m of the opinion that all bets are off as long as we have government issuing currency, particularly fiat. Sorry if I seem to be getting off track. I guess I just worry about so much of the debate being on taxes, interventionism and the mixed economy, which I am against, while only paying lip service to the monetary system, which I believe is the source of all the other distortions. I want to be satisfied with your answers and not waste your time–I have a lot to learn so this must be frustrating for you. Thank you for engaging me all the same.