4 ms·
Eh, where to start.. Probably with the Peter Thiel's famous line "competition is for losers". Then you have things like industry associations or unions the sole
by asgard1024 11y ago
Eh, where to start.. Probably with the Peter Thiel's famous line "competition is for losers". Then you have things like industry associations or unions the sole purpose of which is to advocate non-free market for a certain group of people. Governments (comprised of people, not aliens!) enacting things like subsidies, intellectual property, limited liability, social security, privacy and many other regulation ensure that free market doesn't happen.
Free market predicts zero margin but most industries operate pretty far from that, for a good reason. It's also undesirable from the workers perspective - free market translates as subsistence wages. Everybody is running from the free market as fast as they can; there is a reason why "price war" is called "war" - it's an exhausting and ugly enterprise.