There is no plausible theory under which the record of the Pentagon Papers can be interpreted as relating to the national defense.
Noam ChomskyRead
Markets have built in inefficiencies, serious inefficiencies which are well known.
Interpretation
What this quote means
Markets are not always perfectly efficient and have identifiable flaws.
This quote by Noam Chomsky highlights the concept that financial markets are not flawless systems. Instead, they are characterized by inherent inefficiencies that can be recognized and studied, indicating that the assumption of market efficiency is often an oversimplification of reality.
Themes
MarketsInefficienciesEconomicsFinanceTheory
In practice
Example use cases
During a finance lecture, you could mention this quote to discuss market imperfections.
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There is still much debate about whether torture has been effective in eliciting information - the assumption being, apparently, that if it is effective, then it may be justified.
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