8 ms·
A lot of the things people like to attribute to capitalism are really aspects of a perfect market. More off a convenient fiction for framing Econ 101 discussion
by wlesieutre 10y ago
A lot of the things people like to attribute to capitalism are really aspects of a perfect market. More off a convenient fiction for framing Econ 101 discussions on than something that actually actually exists. In some cases useful as a first order approximation.
It's the economics equivalent of frictionless spherical cows in a vacuum.
- digi_owl 10y agoExcept that while said cow is absurd at the face of it, economics 101 is passed off as gospel.