Brad DeLong's Grasping Reality • 192 implied HN points • 13 Jul 25
- The idea of ownership is really strange. We believe we can own things even when we're not present, which is a unique concept for humans.
- Trade and exchange are important for how societies work. They help people specialize in tasks and improve efficiency, leading to greater productivity.
- Markets and property rights help coordinate action in society. They distribute resources but don't guarantee fairness, so the rules around them shape who benefits and how much.