Chapter 2: An Equilibrium of No Free Energy | Inadequate Equilibria
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How, in principle, can society end up neglecting obvious low-hanging fruit?
Chapter 2: An Equilibrium of No Free Energy | Inadequate Equilibria Inadequate Equilibria --> Chapter 2 An Equilibrium of No Free Energy I am now going to introduce some concepts that lack established names in the economics literature—though I don’t believe that any of the basic ideas are new to economics. First, I want to distinguish between the standard economic concept of efficiency (as in efficient pricing) and the related but distinct concepts of inexploitability and adequacy , which are what usually matter in real life. i. Depending on the strength of your filter bubble, you may have met
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