The Ideamarket & Laissez-Faire Infonomics
February 16th, 2022
What is Truth?
What is Truth?

"Give a man an idea, and he thinks for a day. Teach a man to list ideas, and he can feed himself for the rest of his life."

Not quite the original quote, but it fits the idea economy available in Ideamarket well.

Knowledge is power, few would refute that, yet how is truth handled in society today? Private interest gatekeepers, news organisations that are better described as advertising lobbyists, billionaire hobbyists protecting their interests - all these have an outsized influence on what society views as 'truth'.

But how can we go beyond the current state of play? Perhaps some learned individuals can shed some light on the situation?

“When enough people understand reality, tyrants can literally be ignored out of existence. They can't ever be voted out of existence.” - Larken Rose

The above quote shows a depressing take on the state of things, appealing that a corrupt ruling influence can never be dealt with by the system they govern over, but rather takes the people to collectively enforce a new way of ruling.

Can this not apply to the corporate structure of the news and its many invested powers? Can we not as a society avoid the trappings and interests of those with power over what is considered true by innovating a new way to verify this most sacred of concepts? Ideamarket achieves this marriage of the free market and truth so adeptly, it is almost as if the concept has existed since time immemorial, but only now brought into the world.

“The free market punishes irresponsibility. Government rewards it.” - Harry Browne

A free market of information, to avoid the centralised influences currently in play that subvert the news, should be able to natively identify those actors with impure motives. But the question remains on how to deal with them?

“The criminal excesses of unlimited capitalistic liberty had soon been checked thanks to the unlimited liberty of the press.” - Salvador de Madariaga, Essays with a Purpose

Ah, the bad actors in the free market are supposed to be dealt with by a free press! But how does that help us when the press themselves engage in bias and have special interests that do not align with common good?

The answer is to determine what is true with a free market. This forces the underlying assumptions of truth and integrity not to be attributed to a particular institution, but rather to the information itself. Then the press can provide their unique value; but the authenticity of the information will never be answered by an individual or a company, but by the wisdom of the free market.

“It is the consumers who make poor people rich and rich people poor.” - Ludwig von Mises

People can decide what is true and what is fake, institutions are not necessary for that. We can come together and bring about a more enlightened age, with a technological advancement of news similar to that of the printing press or the Internet.

Who is smarter? A single leader, or their 1000's of subjects?
Who is smarter? A single leader, or their 1000's of subjects?

Fundamentally, we need not rely on government or ruling entity to tell us what is right.

“State is the name of the coldest of all cold monsters. Coldly it lies; and this lie slips from its mouth: 'I, the state, am the people.” - Friedrich Nietzsche

We need not feel fear at the thought of being wrong, as we only need to state our truths with conviction and the inherent acknowledgement that it is subjective to us.

“People and institutions that refuse to admit error eventually discredit themselves.” - Jeffrey Tucker

We need not be bound by Byzantine rules and regulations for something as simple and pure as the truth.

“The more laws and restrictions there are, the poorer people become... The more rules and regulations, the more thieves and robbers.” - Lao Tzu

But, if this does not appeal to you, perhaps your choice should remain the reliance on powers beyond your ken to determine truth, with your simple faith that they are right, if not correct.

"The markets are moved by animal spirits, and not by reason." - John Maynard Keynes

Truly, is there anything more terrifying than a fool with power?

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