Verbatim quote · from the corpus

“If the market is presented as a decentralized aggregate of individual activities in which knowledge that no individual could possess by himself is nevertheless held and acted on socially, this is only the case insofar as each of us donates our intelligence to the central intelligence of the market. And in the end this central intelligence is embodied by the central bank, which must step in and “correct” for “market failures.””

— Adam Katz, There Is No Economy but Only the Debt to the Center: Money, Capital and the Tributary · Spring 2023 · Essays & Articles