Hi Jason.

I do understand you contention. However, I cannot see markets as a tool, anymore than I could ascribe any natural system as a tool. My opinion is obviously framed by the understandings I have of gifted writers like Hayek who have formulated clear thoughts about this, and I would even go so far as to challenge your assertion about the way principles of markets are evident in successful matchmaking in our social lives. I guess we have a different opinion of the evolutionary aspect of markets. You believe, I think, that it is a man-made convention that can be cut to order. I understand it as a natural system that did not result from human design, but rather evolved spontaneously, as Hayek proposed. With that understanding, it's impossible, futile, and counter-productive to intercede by tailoring it to specific jobs.

Nevertheless, I enjoy the series, and certainly have appreciated your many great articles about quant finance.

Thanks.

Cheers!

Skot