7 ms·
What well known systemic problems do markets have?
by thecopy 10y ago
What well known systemic problems do markets have?
- nils-m-holm 10y agoWhat's the easiest way to win a competition? How does the prisoner's dilemma apply to markets?
- notacoward 10y agoMonopoly/monopsony, principal/agent problems, perverse incentives, information asymmetry, Baumol's cost disease, ..., the list goes on and on. Markets are great, but they are neither maintenance-free nor ideal for every situation. It's like proposing containers as the solution for every IT problem, without even saying how those containers will be built or deployed.
- diyseguy 10y agolowest-bidder engineering projects, cost cutting by employing slaves in other countries, setting fire to indonesia to plant palm oil plantations for cheaper ingredients. Markets reward greed and have no regard for ethics or common sense.