The significance between top-down vs. bottom-up has been compiled and showcased by Matt Ridley, in his book, "The Evolution of Everything: How New Ideas Emerge.

The significance between top-down vs. bottom-up has been compiled and showcased by Matt Ridley, in his book, "The Evolution of Everything: How New Ideas Emerge." It says most of human beings are incapable of comprehending evolutionary design like free market. It's true. OP labeled markets as an example of top-down phenomenon.