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And this happens because there is a dichotomy; a free society with only one class of participant vs a society with free people and slaves. The marketplace alway
by tankenmate 10y ago
And this happens because there is a dichotomy; a free society with only one class of participant vs a society with free people and slaves. The marketplace always has at least two classes, buyers and sellers. Buyers are typically those with liquid negotiable assets and sellers those with less liquid / negotiable assets; the most common liquid negotiable asset being cash. So when there is more than one class then there is a much higher probability that one party will have more "power" than the other, cf voters vs representatives in representative democracies, multi-national companies vs individual consumers.