5/
#bookquote #quoteoftheday 

@tylercowen quoted in @allisondman 's book
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“If pairwise barter amounts to Pareto-hill-climbing across a rough terrain with few available moves; trade in a system with currency and prices amounts to hill-climbing across a smoother terrain with many available moves”.

Duettmann, Allison ; Miller, Mark S. ; Peterson, Christine. Gaming the Future: Technologies for Intelligent Voluntary Cooperation
#bookquote #quoteoftheday