Why the ‘thomas theorem’ is important and why we need to be careful about its application

It's a classic argument in economics: If you can find a way to make a market, then that market will thrive.In economics, there's the so-called thomas law: If your prices are high, your prices will go up.If they're low, they will go down.If you're able to get prices to converge, you can create a market.This has been a cornerstone of the free market system since Adam Smith in the 17th century.But wh...