Ignorance of markets is distributed unequally across participants

Evidence

Collective ignorance—rather than collective wisdom—drives market equilibrium and social order (Martin 2015). Nonetheless, not everyone is “equally ignorant.” Exposing the unequal distributions of nonknowledge is important for understanding uneven experiences of uncertainty in the face of financialization, and thus our speculative responses to it, not to mention our ability to garner capital from speculation. — Aris Komporozos-Athanasiou, Speculative Communities, 319

Categorization

• XREF: Hayek’s price system thesis and Keynes connect to the economics tradition under critique throughout this book
• QUESTION: Worth chasing: what empirical work measures who bears ‘nonknowledge’ most heavily under financialization?