Monday, May 11, 2009
Markets: 348th Idea
Markets is where most work occurs and where most things are bought and sold. Manufacturers first transport then sell or transport their merchandise, sellers receive goods or structure available services, employers hire workers who perform for customers and communities, buyers seek out, compare, and make purchases, and integrators structure consumer choices in typologies of competitive markets.
Markets involve tension, where there is usually a 'spread' between purchase and sale price. This gap relates to underlying costs such as facilities, transport, labor, utilities, debt, and, where practicable, profit margin.
Pricing gives dynamic pricing information about demand, availability, and competition. The very essence of the word 'market' relates to distribution. As we say, markets are forms of 'complex adaptive systems', and as such can be stable or unstable, large or small, local or global, open or closed, and transparent or opaque.
Lastly, while some markets can be highly efficient, others can be grossly confused and involve great stupidity and loss of vital energy. Markets are a lot like codependency and addiction, and it is really hard to separate markets from either exploitation or flagrant ignorance.
While market employ agents often involving persons, to a large extent, in modern society markets are beyond the pale of any one person and truly rule.