3 ms·
Indeed: here we see that the 'efficiency' of the market or its ability to solve problems as an organic optimzation machine is a myth. The market is a collection
by wfo 9y ago
Indeed: here we see that the 'efficiency' of the market or its ability to solve problems as an organic optimzation machine is a myth. The market is a collection of many dictatorial kings of fiefdoms called small and large businesses, and it expresses the collective will of these kings. Theory says if there is a labor shortage that wages should go up, but the owning class does not wish to raise wages, rather they prefer to keep their proportion of the profit for themselves, and when theory conflicts with the will of the powerful, well...