Late Stage Capitalism is a nonsense concept. Perfect competition is a very simplistic assumption from unrealistic late 19th century economic model by Walras. T

Late Stage Capitalism is a nonsense concept. Perfect competition is a very simplistic assumption from unrealistic late 19th century economic model by Walras. That is fine for econ 101 but its clearly not what economists have understood for a long time. Also, water markets are inertly political for the most part, so political economy actually gives you far more insight into how they work then Walrasian micro economics.