You can expect society to perform suboptimally and find low-hanging unsolved problems in areas where:
- Decision-makes have little to lose or gain personally from making improvements.
- Decision-makers can’t reliably learn the information they need to make decisions, even though someone else has that information.
- Systems that are broken in multiple places so that no one actor can make them better, even though some magically coordinated action could move to a new stable state.
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