Where are the new monthly threads when I need them? A pox on the +11 EDT zone!
This thread is for the discussion of Less Wrong topics that have not appeared in recent posts. If a discussion gets unwieldy, celebrate by turning it into a top-level post.
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There is some relevant discussion of the issue of how our empathy/instinctive moral reactions conflict with efficient markets in this interview with Hayek. The whole thing is worth watching but the most relevant part of the interview to this discussion starts at 45:25. Unfortunately Vimeo does not support links directly to a timestamp so you have to wait for the video to load before jumping to the relevant point.
ETA a particularly relevant quote: