No. Classicals were wrong because cooperative networks dont equilibrate as predicted, they exhaust and overextend because the cost of reorganization isn’t something they’ll pay until they have to – b/c humans in organizations maximize rents.
Source date (UTC): 2021-12-13 17:18:29 UTC
Original post: https://twitter.com/i/web/status/1470443018322915333
Reply addressees: @DanSWright @phl43
Replying to: https://twitter.com/i/web/status/1470440902162276353
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